Finance and Planning Minister Dr Philip Mpango (right) chats with the BancABC Board Chairman Dr Jonas Kipokola (centre), the banks Managing Director Dana Botha (left) and the banks Head of Retail Banking Joyce Malai after launching of the BancABC Tegeta branch in Dar es Salaam on Wednesday.
Finance and Planning Minister Dr Philip Mpango chats with BancABC staff after launching of the banks Tegeta branch in Dar es Salaam on Wednesday.

BancABC has opened up a new branch at Tegeta in Dar es Salaam in order to cater for the growing customers demand for financial and banking services necessary in speeding up the economy. Tegeta branch is the fifth branch of BancABC in the country. 

Speaking during the official inauguration of the branch, the Minister of Finance and Planning Dr Philip Mpango said it was a good move for the bank to extend its services near the customers in the outskirts of Dar – es- salaam instead of concentrating in the city centre where all banks have branches.

‘I take this opportunity to congratulate the management of the bank for coming up with this good idea of opening a branch in Tegeta. It is good to note that areas like these is where you find a large number of Tanzanians who don’t use financial services like banks and therefore this branch will help penetrated into the unbanked population in this area’.

Commenting on the services offered by the bank, Dr Mpango expressed his satisfaction that the bank services over 60,000 government employees by offering loans and investing opportunities. ‘The way that you have been serving government employees, do the same to the private sector, let them have a trust in your services and they will be good customers’ ,Said Mpango. 

Dr Mpango called Tanzanians to develop a culture of savings as it’s by saving that one can reach their goals. Savings has a lot of advantages not only achieving your goals but also a bank can have trust, when it comes to offering loans, said the Minister.

 Dr Mpango also urged BancABC and other banks in the country to consider reducing lending rates among their customers as they are many Tanzanians who are willingly to borrow but higher rates discourage them from doing so.

Mpango further insisted that is good for Tanzanians to develop a trust of paying their debts each time they borrow’. 

Speaking at the same occasion, BancABC Tanzania Managing Director Dana Botha said that launching of branch is a key milestone in bringing closer the banks products and services to the people of Tegeta.

‘This is a key milestone to BancABC as we align our vision to the premier financial service institution in Sub- Saharan Africa and obtain top five market position in countries we operate', said Botha. 

The Managing Director urged Tegeta residents to come up and make use of the services offered by the bank. ‘We have always been working hard to achieve better results. BancABC which is part of Atlas Mara has been named in the 2017 Banker Africa, Southern Africa Awards as the Best Emerging Bank – Southern Africa.

 The results are based on nominations and votes from the Bankers’ subscribers. It has been our objective for the bank to have brag awards whilst we fix our value propositions for excellence, said Botha. 

The Managing Director said that BankABC is planning to open other two branches in Dodoma and Mwanza before the end of this year.

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