- Source: Azania Bank
Azania Bank Limited, whose formal name is First Adili Bancorp Limited, and is commonly referred to as Azania Bank, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania (BOT), the central bank and national banking regulator.
Overview
Azania Bank is a Tier One-sized commercial bank that engages in retail banking, corporate banking, lease financing, foreign exchange transactions and import/export financing, as well the issuance of letters of credit. Following the acquisition of the assets and liabilities of Bank M, in January 2019, the total assets of Azania Bank were valued at approximately TSh 1,339 billion (US$582 million). At that time the bank's shareholders equity was valued at TSh 164 billion (US$71.46 million). As of December 2019, the bank's total assets were valued at 1,148,710,000,000/= (US$496,575,000), with shareholders equity of 241,351,000,000/= (US$104,333,000).
History
The bank was established in 1995, as First Adili Bancorp, by Tanzanian citizens, together with national pension funds and International financial institutions, including the East African Development Bank, the Swedish International Development Agency and an American merchant bank, Gerald Metals Inc.. Today, the main shareholders are Tanzanian pension funds and Tanzanian nationals.
In January 2019, Azania Bank acquired the assets and liabilities of Bank M, a retail commercial bank, which had been under management by Bank of Tanzania since August 2018, on account of "critical liquidity problems" and inability "to meet its obligations".
Ownership
As of December 2021, Azania Bank's stock was owned by the following corporate entities and individuals:
Branch network
Azania Bank has its headquarters in Dar-es-Salaam. As of December 2021, the bank maintained a network of branches at the following locations:
Masdo Branch - Samora Avenue, Dar es Salaam
Kariakoo Branch - Msimbazi Street, Dar es Salaam
Kisutu Branch - Kisutu, Dar es Salaam
Tegeta Branch - Chief House, Tegeta, Dar es Salaam
Mwenge Branch - Mwenge Market, Dar es Salaam
Mawasiliano Agency - Sam Nujoma road, Dar es Salaam
Industrial Branch - Nyerere road, Dar es Salaam
Lumumba Branch - Lumumba Street, Dar es Salaam
Mwaloni Branch - Mwaloni Fish Market, Mwanza
Rockcity Branch - Makongoro Street, Mwanza
Rwagasore Agency - Rwagasore Street, Mwanza
Lamadi Agency - Lamadi, Simiyu
Kahama Branch - Kahama Central Business District, Shinyanga District
Kagongwa Agency - Iponya Street, Kahama, Shinyanga
Arusha City Branch - WaKaloleni Street, Arusha
Mbauda Branch - Mbauda Corner, Arusha-Dodoma Road, Arusha
Arusha Business Centre - Joel Maeda Street, Arusha
Moshi Branch - Opp. Moshi Municipal Offices, Moshi
Geita Branch - Geita
Geita Mineral Centre - Kalangalala Street, Geita
Katoro Branch - Geita
Nyarugusu Service Centre - Geita
Morogoro Branch - Old Dar es Salaam rd Street, Morogoro
Sokoine Branch - Kikuyu Avenue, Dodoma
Tunduma Branch - Sumbawanga Road, Tunduma
Mbeya City Branch - Karume Avenue Road, Mbeya
Governance
Azania Bank is governed by an eleven-person Board of Directors of whom one is an Executive Director and ten are non-Executive. The Chairman of the Board is Eng. Julius Ndyamukama, one of the non-Executive Directors. The Managing Director of Azania Bank is Ms. Esther Mangénya.
See also
Economy of Tanzania
List of banks in Tanzania
References
External links
Azania Bank Is A Key Mortgage Lender in Tanzania
Azania Bank Eyes SME Growth
Bank Issues TSh65.2 Million To Upgrade Unplanned Settlements
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