Azania Bank plans Tanzania expansion

May 25, 2012

Azania Bank is to expand its presence across Tanzania this year by opening more branches and relocating its Dar es Salaam headquarters to a more spacious building.

Azania Bank is to expand its presence across Tanzania this year by opening more branches and relocating its Dar es Salaam headquarters to a more spacious building.

The firm, which specialises in providing finance to small and medium-sized enterprises (SMEs) and acknowledges that SMEs are "crucial for economic and social development" in the country, plans to open agencies in Lamadi, Katoro and Kagongwa, as well as a new branch in Geita, by the end of the month, Daily News Online reports.

"We will be opening more branches across the country by the end of this year that will go along with our vision of becoming a one-stop financial centre for small and medium enterprises," remarked Managing Director Charles Singili.

In the capital, it will move its head office to Mawasiliano Towers, which offers more room to serve customers.

Azania uses market segmentation to build up an in-depth knowledge of its customers and employs cost-effective tools to comprehensively manage the risks of loaning to SMEs.

In addition, the company is focused on working with global small business finance leaders to develop strategic partnerships that will help it further improve its services.ADNFCR-2976-ID-801371833-ADNFCR