Mkombozi Commercial Bank
|Traded as||DSE: MKCB|
|Headquarters||Dar es Salaam, Tanzania|
|Method Anatoli Kashonda
Edwina Agnellus Lupembe
Managing Director & CEO
|Products||Loans, Checking, Savings, Investments, Debit Cards|
|Revenue||Aftertax:US$70,500+ (TZS:119 million (2013)|
|Total assets||US$37.94 million (TZS:64.03 billion) (2013)|
Mkombozi Commercial Bank Plc. (MKCB) is a commercial bank in Tanzania. It is licensed by Bank of Tanzania, the central bank and national banking regulator. Mkombozi is a Swahili word meaning Savior.
The bank is a small commercial bank that focuses on serving the lower social economic classes in Tanzania, along with their small-to-medium enterprises (SMEs). As of December 2013[update], the bank's total asset valuation was approximately US$37.94 million (TZS:64.03 billion), with shareholder's equity of approximately US$6.82 million (TZS:11.5 billion). The bank made a profit of TSh119 million (US$70,500), in calendar year 2013.
The bank obtained a commercial banking licence from the Bank of Tanzania, the national banking regulator, in July 2009. MKCB then opened for business in August 2009.
Mkombozi Commercial Bank is owned by Tanzanian Catholic dioceses, parishes, and individuals of all religious persuasions. In order to raise the US$5 million (TZS:7.8 billion) initial share capital, shares were sold to individuals and businesses, in batches of 100 shares at US$0.75 per share. In November 2014, the bank floated its shares of the Dar es Salaam Stock Exchange (DSE), with three main objectives: (a) to raise paid-up capital, above the new statutory minimum of TSh15 billion (US$9 million), before 1 March 2015 (b) to raise funds for expanded lending and (c) to source funding for opening more branches.
- Main Branch - St Joseph's Catholic Church, 40 Mansfield Street, Dar es Salaam
- Mwanza Branch - Mwanza
- Msimbazi Branch - Msimbazi, Ilala District, Dar es Salaam
- Kariakoo Branch - Kariakoo, Dar es Salaam.
- Moshi Branch - Moshi Town, Kilimanjaro
- Bukoba Branch - Bukoba Town, Kagera.
The Board of Directors of the bank comprises eight individuals. The Chairman is one of the seven non-Executive Directors. The current Chairman is Method Kashonda. The current Managing Director and Chief Executive Officer (CEO), is Edwina Agnellus Lupembe.
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- Daily News Reporter, . (3 November 2014). "Mkombozi Bank Formally Goes Public, Offers 5 Million Shares". Tanzania Daily News (Dar es Salaam). Retrieved 14 November 2014.
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