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Wednesday, 21 March 2018

MWALIMU BANK SEEKS 2 BOARD MEMBERS


Dar es Salaam. Mwalimu Commercial Bank (MCB) on Tuesday, March 20, announced two positions for board members who will represent minority shareholders.

A statement showed that the bank raised its capital of Sh30.9 billion from 61.8 million shares of Sh500 each floated and paid-up through the Dar es Salaam Stock Exchange.

MCB shareholders are the Tanzania Teachers Union and its affiliate Teachers Development Company that have a 16.2 per cent stake.

Other shareholders, with their percentages of shares in brackets, are individual teachers (35.2), Public Service Pensions Fund (16.2), National Health Insurance Fund (16.2) and the general public (16.2).

The Citizen

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