FINCA MICROFINANCE BANK SETS GROUND IN MBEYA CITY

FINCA Tanzania CEO, Edward Talawa acknowledged the support from the Government of Tanzania, the business community and individual stakeholders have made the bank continuously deliver quality services as a continued effort to achieve its mission grounded in three main banking solutions areas, namely village banking, provision of group loans and loans to individuals.

Mbeya Regional Commissioner, Honourable Juma Zubeir Homera officiated the opening of the new FINCA bank branch in Mbeya, encouraging individuals and group residents, industrial and commercial institutions, social business institutions like schools and colleges to make use of the bank's presence in the region.

FINCA customers had an opportunity to openly share their feedback about the bank’s services and how best the new branch can meet their needs.

FINCA Microfinance Bank Tanzania has inaugurated its new Branch in Mbeya to offer financial solutions that enable Tanzanians to achieve their business and personal goals.

The bank that has relocated to Mafiat, Royal Tughimbe Hall was successfully inaugurated by Hon. Juma Zuberi Homera, the Regional Commissioner of Mbeya region who was the guest of honour. Other attendees included government officials, FINCA customers and the bank’s representatives led by the CEO Mr. Edward Talawa, Mr. Jeffrey Smith a representative stakeholder, Ms. Nasama Massinda the Chairperson on the Board of FINCA Tanzania.

At the inauguration ceremony, the Guest of Honour congratulated the bank representatives and said, “The presence of FINCA Tanzania in Mbeya is notably a sign of positive relations that FINCA continues to build and promote among the different geographically dispersed communities in Tanzania… I take this opportunity and platform to encourage individuals and group residents of Mbeya and industrial and commercial institutions and indeed social business institutions operating in the region, such as schools and colleges, to take advantage of the presence of this bank branch by joining as new and as continuing customers.’’

The Mbeya Regional Commissioner, Honourable Juma Zubeir Homera, also assured the representatives that Mbeya is a safe business environment, commended FINCA Tanzania for opening a branch in Mbeya saying it is a timely opportunity for individuals, small and big business owners to take advantage of the presence of the bank in Mbeya. He nonetheless challenged the bank to initiate digital and mobile banking services and financial solutions reaching out to and serving small businesses in rural areas.

On his opening remarks, the CEO of FINCA Microfinance Bank in Tanzania, Mr. Edward Talawa said “FINCA is committed to continuing to be a futuristic, innovative, creative, customer-mindful and efficient banking institution determined to invest in and to improve its existing and emerging infrastructures and operations in the effort to better serve all categories of our customers. The inauguration of this new branch in Mbeya is a typical sign of our commitment and determination to continue growing and serving our customers better by offering efficient financial and banking solutions in all parts of Tanzania and indeed remaining in the banking market system.”

Mr. Talawa further elaborated that the FINCA banking institution has managed to serve and positively impact the lives of over 3.2 million customers across the country. This has been possible through a network of 169 physical banking services access points as well as digital touch point banking services. For the past 10 years (2012 - 2022) FINCA has also managed to lend out a total of TZS 1.42 Trillion to Tanzanians, where as of Sept 2022 the total outstanding portfolio was TZS 57BN, the majority of whom are entrepreneurial women and young people. He emphasised that the bank continues to remain committed to doing even better. The presence in Mbeya is to open the bank's doors to the wider business community and individuals as well as neighbouring regions of Iringa, Songwe, Njombe and Katavi.

FINCA Microfinance bank offers several services like savings, favourable loans and digital lending services.

Mr. Jeffrey Smith, a representative of FINCA Global congratulated the Tanzania team for showing a clear demonstration of the commitment to continue the efforts of fighting and eradicating poverty in the country in correspondence with the FINCA International mission. He further highlighted that Tanzania has been the most expedient and forward looking adopter of our digital banking product in facilitating financial solutions. The success demonstrated by this move has inspired and forced other countries to learn and implement similar solutions in their markets. Now the same strategy is already in use in Malawi, Zambia and the Democratic Republic of Congo. The strategy has, to a big extent, contributed towards the realisation of the FINCA mission across the network.

Preceding the branch’s relocation ceremony, the FINCA team actively engaged in donating building materials for a health centre located at Idungumbi ward at Mbalizi, Mbeya.

The branch’s opening comes at a perfect timing for Mbeya region inhabitants as it’s an opportunity to witness the bank's great reputation of promoting economic growth for individuals who actively seek to improve their livelihoods.