Ecobank Tanzania Opens Mwanza Branch to Facilitate Trade in the Lake Region

Ecobank Tanzania, an affiliate of the Ecobank Group, officially launched its new Mwanza branch in northern Tanzania.

Ecobank’s presence in Mwanza is expected to boost cross-border trade by supporting local SMEs in agriculture, fisheries, and manufacturing.

The opening ceremony, which attracted the bank’s existing and potential customers, was attended by the Mwanza Regional Commissioner Eng. Evarist Ndikilo.

Speaking at the event Eng. Ndikilo welcomed and emphasized the importance of having a regional banking force in Mwanza to support key business activities between the residents and other countries in Africa as well as Europe and Asia in a seamless and efficient manner. “After a long period of waiting, Mwanza’s dream of having a seamless banking partner has now come to pass.

We are earnestly looking forward to Ecobank to take the region to the Kilimanjaro level by leveraging its regional network to facilitate efficient cross border business and trade in the Great Lakes region and the Democratic Republic of Congo.” Ndikilo added.

According to Ecobank’s Mwanza branch manager, Mrs. Philomena Jacob, who has lived in the region for the last 8 years, Ecobank’s approach for the SME sector is to bundle financial products with financial skills training.

“Our goal is to deepen financial inclusion in Mwanza to the benefit of all and sundry.” she said.

Other key guests at the opening ceremony were the District Commissioners from the Lake Zone, the Mayor, Mwanza City Director and the Regional Police Commander.

With 25 years of experience operating across Middle Africa and total assets of US $ 20 billion as of December 2012, the Ecobank Group network comprises 34 African countries and representative offices in London, Paris, Dubai and Beijing.

Founded by Africans, and managed by Africans, Ecobank Group is focused on aligning itself with the socioeconomic imperatives of all the countries in which it operates.

Ecobank started operating in Tanzania in January 2010. Today, the bank boasts of six branches across Tanzania and a lending portfolio, which consists of about 50% of loans to SMEs in Tanzania.