EQUITY BANK SPREADS ITS WINGS TO SPICE ISLANDS

The newly opened branch in Zanzibar 

• This is the fourteenth Equity Bank outlet in Tanzania – scattered across Dar es Salaam, Arusha, Kilimanjaro, Mwanza, Dodoma, Mbeya scaterred,regionsand now in Zanzibar

Zanzibar. Equity Bank Tanzania has opened a branch Zanzibar as it seeks to tap into the tourism economy of the semi-autonomous archipelago.

This is the fourteenth Equity Bank outlet in Tanzania – scattered across Dar es Salaam, Arusha, Kilimanjaro, Mwanza, Dodoma, Mbeya and now in Zanzibar

Speaking at the official opening of the branch here yesterday, the Equity Bank Tanzania managing director, Mr Joseph Iha said the move is part of the bank’s strategic expansion plan that directs it to tap into the vast investment opportunities across the region.

It (the move) also augments the bank’s overall strategy of positioning itself as a champion for socio-economic prosperity of the people of Africa.

“Since 2012 when Equity Bank set foot in Tanzania, we have made major investments that have seen us play a pivotal role towards the economic growth of the country and the financial sector as a whole. Our entry into Zanzibar underscores our commitment to further entrench our offering into the region”, Mr Iha said.

Equity Bank, he said, will continue with its expansion plan across Africa as it seeks to play an increasingly important role in reaching out to the financially excluded segment of the continent’s population.

Through stimulating financial inclusion, Mr Iha said his bank will also be significantly contributing towards the attainment of Zanzibar’s economic growth as envisioned the Zanzibar’s Strategy for Growth and Reduction of Poverty, better known in its Kiswahili acronym as Mkuza whose implementation expires in 2020.

Equity Bank Tanzania offers financial literacy training aimed at empowering its customers with financial management skills, a move that has led to the growth of its Fanikisha loan products that target women.

The bank’s branch network is supported by over 800 agents and merchants and 17 automated teller machines