Azania Bank

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Azania Bank
Private
Industry Financial Services
Founded 1995
Headquarters Dar-es-Salaam, Tanzania
Key people
William E. Erio
Chairman
Charles G. Singili
Managing Director
Products Loans, Checking, Savings, Investments, Debit Cards
Total assets US$171.8 million (TZS:299.5 billion) (June 2014)
Number of employees
244 (2014)
Website Homepage

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.[1]

Overview[edit]

Azania Bank is a medium sized commercial bank that engages in retail banking, lease financing, foreign exchange transactions and import/export financing, as well the issuance of letters of credit. As of June 2014, the bank's total assets were valued at about US$178.1 million (TZS:299.5 billion). A that time, the bank's shareholders' equity was valued at approximately US$20.32 million (TZS:34.2 billion).[2]

History[edit]

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 nations.[3]

Ownership[edit]

As of November 2014, Azania Bank's stock is owned by the following corporate entities and individuals:[4]


Azania Bank stock ownership
Rank Name of owner Percentage ownership
1 National Social Security Fund - Tanzania (NSSF) 34.8
2 Parastatal Pension Fund (PPF) 30.1
3 Public Service Pension Fund (PSPF) 17.2
4 Local Authorities Pension Fund (LAPF) 14.2
5 East African Development Bank (EADB) 2.3
6 Minority Shareholders, Including Azania Bank Staff 1.4
Total 100.0

Branch network[edit]

Azania Bank has its headquarters in Dar-es-Salaam. As of May 2012, the bank maintains a network of branches at the following locations:[5][6]

  1. Masdo Branch - Samora Avenue, Dar es Salaam
  2. Kariakoo Branch - Msimbazi Street, Dar es Salaam
  3. Tegeta Branch - Chief House, Tegeta, Dar es Salaam
  4. Mwenge Branch - Mwenge, Dar es Salaam
  5. Mwanza-Mwaloni Branch - Mwaloni Fish Market, Mwanza
  6. Mwanza-Nkrumah Branch - Nkrumah Street, Mwanza
  7. Kahama Branch - Kahama Central Business District, Kahama, Shinyanga District[7]
  8. Arusha City Branch - Wapare Street, Arusha
  9. Mbauda Branch - Mbauda Corner, Arusha-Dodoma Road, Arusha[8]
  10. Moshi Branch - Market Street, Moshi
  11. Mawasiliano Branch - Mawasiliano Towers, Sam Nujoma Road, Dar es Salaam Main Branch
  12. Geita Branch - Geita
  13. Katoro Branch - Geita
  14. Lamadi Branch - Simiyu
  15. Kagongwa Branch - Kahama
  16. TCRA Branch – Dar Es Salaam.

Governance[edit]

Azania Bank is governed by an eight person Board of Directors of whom one is an Executive Director and seven are non-Executive. The Chairman of the Board is William E. Erio, one of the non-Executive Directors. The Managing Director of Azania Bank is Charles G. Singili. He is assisted by seven other managers in supervising the operations of the bank.

See also[edit]

References[edit]

  1. ^ BOT, . "Directory of Banks Operating In Tanzania". Bank of Tanzania (BOT). Retrieved 8 November 2014. 
  2. ^ AZBT, . (July 2014). "Azania Bank Limited: Report of Condition of the Bank As At 30 June 2014" (PDF). Azania Bank Tanzania (AZBT). Retrieved 8 November 2014. 
  3. ^ AZBT, . "Profile & History of Azania Bank Tanzania". Azania Bank Tanzania (AZBT). Retrieved 8 November 2014. 
  4. ^ AZBT, . "Shareholders In Azania Bank Tanzania". Azania Bank Tanzania (AZBT). Retrieved 8 November 2014. 
  5. ^ AZBT, . "The Branch Network of Azania Bank". Azania Bank Tanzania (AZBT). Retrieved 8 November 2014. 
  6. ^ Daily News Reporter, . (24 May 2012). "Azania Bank Embarks On Expansion". Tanzania Daily News (Dar es Salaam). Retrieved 8 November 2014. 
  7. ^ Daily News Reporter, . (24 October 2010). "Tanzania: Azania Bank Records Positive Growth". Tanzania Daily News (Dar es Salaam) via AllAfrica.com. Retrieved 8 November 2014. 
  8. ^ Arusha Times Reporter, . (26 February 2011). "Tanzania: Azania Bank Opens New Branch in Mbauda". The Arusha Times. Retrieved 8 November 2014. 

External links[edit]