Equity Bank Tanzania is launched
31st October, 2012 Dar es Salaam… Equity Bank Group has officially launched operations in Tanzania as it seeks to enhance its market share within the East African region while replicating its successful business model.
The launch saw the unveiling of their head office in Dar es Salaam today in a ceremony presided over by Hon Janet Mbene, Deputy Minister for Finance, representing H.E President Jakaya Kikwete.
Speaking at the launch, Equity Bank Tanzania Board Director Professor Delphin Rwegasira “Equity Bank exists to transform the lives and livelihoods of the people of Africa through socio-economic empowerment. The Bank will continue to partner with the Government and people of Tanzania to offer inclusive financial services aimed at broadening financial access and deepening financial inclusion in the region. The Bank’s business model is based upon the principles of accessibility, affordability and convenience. The Bank has grown to become a centre of financial and development excellence, using its strong financial base to unfold social development potential in East Africa and beyond. It is also playing an active catalytic role to integrate the people and economies of East Africa and intends to spread this dream to the rest of the continent.
Equity Bank Tanzania, a commercial bank licensed by the Bank of Tanzania started its operations in February 2012. Equity Bank’s Group business model has been a success prompting the development of a regional diversification strategy which has already been replicated in Uganda, South Sudan and Rwanda. The Bank has adopted a customer focused and market led approach to business and aims to increase the level of access to financial inclusion.
“Equity Bank’s entry into Tanzania will play a major role in the microenterprises, SME, industrial and retail sectors as it continues to contribute positively to the growth of the Tanzania economy,” said Prof Rwesagira.
Equity Tanzania has launched operations with five branches in Dar es Salaam, Arusha and Mwanza.
Tanzania's Deputy Prime Minister of Finance Hon. Janet Mbene signs the visitors’ book after officially opening the Equity Bank Tanzania subsidiary. Looking on is Equity Bank Board Director Tanzania Prof. Delphin Rwegasira and Equity Bank Group CEO Dr. James Mwangi, CBS. Equity has branches in Dar es Salaam, Arusha and Mwanza.