ABSA BANK LAUNCHES GROUP SAVING ACCOUNT

Absa Bank Tanzania Head of Retail Banking, Ms. Ndabu Swere (centre), addresses the media (not in the picture), during the official launch of Absa Bank Group Saving Account in Dar es Salaam. Looking on are, Absa's Citizenship Manager, Ms. Abigail Lukuvi (left), and Head of Retail Products and Strategy, Mr Heristraton Genesis.

Head of Retail Products and Strategy at Absa Bank Tanzania, Mr. Heristraton Genesis (right), speaks to the media, during the official launch of Absa Bank's Group Saving Account in Dar es Salaam. Looking on are, Absa's Citizenship Manager, Ms. Abigail Lukuvi (left) and Head of Retail Banking, Ms. ndabu Lilian Swere.

Dar es Salaam: Absa Bank Tanzania has launched a new product, the Group Saving Account, which targets to empower groups of people intent on accomplishing common financial goals to save and invest, part of the bank’s drive to fast-track financial inclusion agenda in Tanzania.

Speaking at the launching event, Head of Retail Banking, Ms Ndabu Swere said: “The Absa Group Saving Accounts is meant for groups, with the account, we empower groups to save, invest and earn interest.”

She noted that the account comes with an array of advantages, top being its flexibility which enables holders to transact anywhere using the bank’s digital systems, agency banking or a cheque.

She added: “the account is also transparent, as holders are posted on what is going on with the account, like deposits and withdrawals, as they can view the account and also get regular notifications.”

Another advantage, she noted, is that the holders are covered with insurance, which can offer indemnity in case of unforeseeable events like death of account holder or their close relatives.

The account also creates a great sense of commitment which is not possible with an individual, as a group, they can save and succeed, because each member feels obliged to work towards accomplishing the common goals agreed.

Another plus with the account is safety, as the account will be secure, due to the fact that as Absa systems are designed to ensure safety of customer funds, our platforms are completely safe.

“I call upon groups with no accounts, groups that have accounts but which lack features of the Absa Group Saving Account, and individuals with no groups to make decisions to utilize this valuable proposition,” said Ms. Ndabu.

She noted that the new product is part of the bank’s drive dubbed ’empowering Africa’s tomorrow, together- one story at a time’ to help the continent overcome its social and economic challenges.

XTRANSFER & ECOBANK PARTNER TO EMPOWER AFRICAN SMEs’ FOREIGN TRADE

Lomé, February 6th, 2025 - XTransfer, the world-leading and China's No.1 B2B Cross-Border Trade Payment Platform, and Ecobank Group, the leading private pan-African financial services group with unrivalled African expertise, have signed a landmark Memorandum of Understanding of Cooperation (MOU) to roll out comprehensive cross-border financial services to Africa’s small and medium-sized enterprises (SMEs) engaged in foreign trade. The collaboration will facilitate trade between China and African countries.

In recent years, China and Africa have continued to deepen trade cooperation, with the scale of imports and exports rising rapidly. In 2023, bilateral trade reached a record US$282 billion. From January to November 2024, China's exports to Africa totalled US$160 billion, a 1.4% increase from the previous year, while imports from Africa reached US$107 billion, marking a substantial rise of 6.6%.

Despite this growth, African SMEs engaged in foreign trade face numerous challenges related to cross-border payments and fund collections. These challenges include difficulties in opening accounts with traditional banks, a high risk of funds being frozen, difficulties in foreign exchange and related losses, lengthy remittance times and high remittance costs.

The partnership between XTransfer and Ecobank Group will foster collaboration between both parties to provide comprehensive cross-border payment solutions for African SMEs’ foreign trade. XTransfer will leverage Ecobank’s extensive network across Africa, enabling its Chinese clients to collect funds in local African currencies while assisting African SMEs in making payments in their local currencies to negate foreign exchange issues.

Bill Deng, Founder and CEO of XTransfer, stated, “We are excited about the partnership with Ecobank. This collaboration represents a significant milestone for XTransfer and greatly enhances our global payment capabilities. Leveraging Ecobank’s extensive payment network in Africa will accelerate our business expansion in the region. We are looking forward to the synergies and opportunities this partnership will create. Together, we will drive innovation and improve the financial landscape, making financial services more efficient and accessible for African SMEs.”

Jeremy Awori, CEO Ecobank Group, said, “We are proud to partner with XTransfer to advance seamless cross-border payment solutions between Africa and China. This partnership builds on our established strategy, which includes a representative office in China and a dedicated China desk. By integrating XTransfer's cutting-edge solutions with our pan-African payment platform, we simplify payments, reduce transaction costs, and enable African businesses to thrive in global trade.”

SHOWMAX ORIGINAL TANZANIAN FILM SALAAM DAR DEBUTS ON VALENTINE'S DAY

This Valentine’s Day, Showmax is launching Tanzanian film Salaam Dar – a 93-minute dance, music, and drama film directed and produced by Adam Juma.

Set in bustling city of Dar es Salaam, it tells a powerful story of ambition, resilience, and self-expression through the transformative power of dance and music.

Juma says he hopes the film “impacts African youth, especially those who have given up on their dreams just because of societal constraints or family issues or someone has told them their dreams are not good enough.”

“I believe this film will highlight the fact that we must all pursue our dreams, sometimes at any cost,” says Juma. “By doing so you might end up helping someone else along the way.”

The film follows Salima (played by Winfida Joseph), a young woman navigating societal pressures, family conflicts, and personal struggles as she seeks to reclaim her dreams. Sent to live with her strict aunt Adela (played by Susan Pepe), Salima finds herself multi-tasking between keeping a job and secretly chasing her dreams in partnership with a once-famous musician, B9 (played by Fadhili Mtiningu). He is facing his own battles, as they both prepare for a life-changing dance competition.

A LOOK AT TANZANIA'S FIRST STANDARD GAUGE RAILWAY (SGR) ELECTRIC TRAIN

Tanzania’s recent launch of its first electric train marks a groundbreaking milestone in the nation’s transportation landscape and signifies a leap toward sustainable development in East Africa.

This ambitious project, which connects Dar es Salaam with the Capital City Dodoma, is part of the larger Standard Gauge Railway (SGR) initiative that will eventually link Tanzania with neighboring countries.

The new electric train isn’t just a triumph of engineering; it represents Tanzania’s commitment to sustainable infrastructure, regional integration, and economic progress.

In this article, we’ll explore the journey that led to this historic launch, the features of the new electric railway, the benefits it promises to bring, and the future of electric rail transport in Tanzania and East Africa.

1. Building a Vision: The Standard Gauge Railway (SGR) Project

The Tanzanian government launched the Standard Gauge Railway project with a vision to modernize the country’s aging rail infrastructure and position Tanzania as a regional logistics and trade hub.

This major infrastructure project spans nearly 1,200 kilometers, linking Tanzania with key landlocked neighbors such as Rwanda, Burundi, Uganda, and the Democratic Republic of the Congo.

With Tanzania’s new electric train, the SGR project takes a transformative step. Unlike the older meter-gauge lines that relied on diesel engines, the new electric train represents a leap toward sustainable transportation. The electric-powered trains are faster, cleaner, and more efficient, significantly reducing travel time and environmental impact.

2. A Technological Marvel: Features and Capabilities of the Electric Train

Tanzania’s first electric train covers a distance of approximately 440 kilometers between Dar es Salaam and the Capital City Dodoma at speeds of up to 160 km/h, reducing travel time drastically compared to traditional trains.

Equipped with modern, high-speed engines and advanced control systems, these electric trains are designed for safety, efficiency, and passenger comfort.

The train operates on a dual-line system, allowing for both passenger and freight transportation. The dual-line system also ensures high operational flexibility, allowing the railway to handle increased demand.

Key safety features, such as automated braking systems and real-time monitoring, have been integrated to enhance operational security and minimize risks.

Additionally, the electric train is equipped with energy-efficient systems that can help cut operational costs while providing smoother rides with less noise and vibration. This investment in modern technology makes Tanzania’s electric train not just a regional first, but a symbol of the nation’s ambitions in sustainable infrastructure.

3. The Economic Benefits: Boosting Trade and Connectivity

The electric train is expected to have a significant impact on Tanzania’s economy. By connecting Dar es Salaam with Dodoma, the train streamlines the transport of goods, especially agricultural products, minerals, and industrial goods, reducing the time it takes for these products to reach domestic and international markets.

The new rail service will also reduce road congestion, lower transportation costs, and ease the logistics for local businesses.

Moreover, the electric train is designed to enhance Tanzania’s role as a central trade hub in East Africa.

By facilitating quicker and more reliable transport options, Tanzania stands to attract more investment in various sectors, including agriculture, mining, manufacturing, and tourism. In the long term, the SGR project’s completion will connect Tanzania with Rwanda, Burundi, and Uganda, strengthening trade routes and promoting economic integration across the region.

NMB YAHUDHURIA MKUTANO, KAMISHENI YA HUDUMA ZA JAMII YA KIKRISTO (CSSC)

Uwakilishi wa Benki ya NMB ukiongozwa na Afisa Mtendaji Mkuu, Bi. Ruth Zaipuna umehudhuria Mkutano wa Kamisheni ya Huduma za Kijamii ya Kikristo (CSSC), mkutano unaoangazia masuala ya elimu na afya. Mkutano huu unafanyika jijini Dar es Salaam kwa siku mbili.

Benki ya NMB imekuwa na ushirikiano mzuri na Kamisheni hii ambapo baadhi ya mashule na hospitali zao zimekuwa zikitumia mifumo ya Benki ya NMB ya kidijitali inayorahisisha ukusanyaji wa Sadaka, ulipaji bili za huduma za afya na uchangiaji wa miradi mbalimbali. Zaidi, mifumo hii imesaidia kupunguza upotevu wa mapato, kupunguza gharama kubwa za uendeshaji, kuonyesha uwazi, usimamizi wa miamala (yaani reconciliation) na kufanya malipo mbalimbali kwa wakati.

Mkutano huu umeongonzwa na Mkurugenzi Mtendaji wa Kamisheni ya Huduma za Kijamii ya Kikristo, Ndg. Peter Maduki na kuhudhuriwa na Maaskofu wote nchini.

#NMBKaribuYako

SELCOM MICROFINANCE BANK OFFICIALLY LAUNCHES SELCOM PESA

Emmanuel Tutuba, Governor Bank of Tanzania.

SELCOM PESA HAS BEEN OFFICIALLY LAUNCHED with the lowest charges ever!!!

Selcom Microfinance Bank has launched SELCOM PESA, a revolutionary digital financial service aimed at making financial transactions more affordable and accessible for all Tanzanians. 

Leonard Mususa, Chairman of the Board - Selcom Microfinance Bank.

With its low transaction fees and integration with the Tanzania Instant Payment System (TIPS), SELCOM PESA is setting new standards in convenience and affordability. Now, customers can make secure money transfers, pay bills, and access government services directly from their phones.

Shumbana Walwa, Head of Marketing - Selcom Tanzania.

The event was graced by Guest of Honour, Emmanuel Tutuba, Governor Bank of Tanzania, who emphasized the importance of digital financial revolution in the country. He highlighted how SELCOM PESA addresses key challenges like high transaction costs, ensuring financial services are more inclusive and affordable for all Tanzanians.

As part of the launch, Selcom introduced the “5 kwa Jero” campaign, offering customers the chance to make 5 transactions a day for only TZS 500. This initiative is part of the bank’s commitment to driving economic growth and digital transformation in Tanzania. Congratulations to Selcom for bringing this game-changing service to Tanzanians.

BEYOND THE BRICKS: EXPANDING TANZANIA'S REAL ESTATE HORIZONS

It is not uncommon, through my professional journey to meet several clients looking to sell their land with reasons of failure to realize returns on investments of their intended projects!

When I ask what type of investment, they all say residential housing! They complain of low rental rates and so they better sell land and take the money to either UTT or buy government bonds!

Since everyone dances his or her own tune when it comes to making investment decisions in real estate in Tanzania, as you do not need to either submit a concept note or a market study to a relevant authority for project approval, most do end up investing uninformed. It is very unfortunate that even the studies, especially business plans, for those requested by banks to qualify for a loan, they just tick the box by submitting desktop studies!

Since there are no proper market studies to identify opportunities beyond brick housing, most investors don’t realize that you can still invest in other forms of real estate and realize a return on investment, apart form the traditional bricks housing.

For many Tanzanian investors, the phrase "real estate" conjures a single image: residential housing. While investing in homes is certainly valuable, it's time we broadened our perspective and explored the diverse landscape of real estate opportunities.

This limited view overlooks the immense potential within other sectors, potentially hindering both individual portfolio growth and the overall development of our real estate market.

Let's consider the possibilities beyond housing;

Commercial Properties
Office spaces, retail centers, and industrial warehouses offer attractive long-term lease potential and can cater to Tanzania's burgeoning business sector. As our economy grows, so does the demand for these spaces.

Hospitality & Tourism
With Tanzania's stunning natural beauty and thriving tourism industry, investments in hotels, resorts, and related properties can be incredibly lucrative. This sector presents unique opportunities for those looking to capitalize on our tourism boom.

Land Development
Acquiring and developing raw land for future use can be a strategic long-term investment. Whether it's for residential, commercial, or mixed-use projects, land development can yield substantial returns.

Specialized Properties:
Consider niche markets like healthcare facilities, educational institutions, or even agricultural land. These sectors offer specialized investment opportunities with unique demand drivers.

Why should we diversify?

Reduced Risk
Relying solely on one asset class can be risky. Diversification across different real estate sectors can mitigate potential losses.

Higher Returns
Different sectors offer varying return potentials. Exploring beyond residential properties can unlock access to potentially higher yields.

Economic Growth
A diversified real estate market supports broader economic development by catering to a wider range of needs and industries.

I believe Tanzania's real estate sector is ripe with untapped potential. By expanding our vision beyond residential housing, we can unlock new opportunities for investors and contribute to the growth of our economy.

Andrew Peter Kato

Registered & Licensed Valuer

President - Association of Real Estate Professionals of Tanzania (AREPTA)
Cell: +255 784 003 000
Email: kato2504@gmail.com

STANBIC YATOA ELIMU YA UJUZI WA FEDHA KWA WATOTO WA WATEJA WAO MWANZA

Meneja wa Huduma Binafsi, Biashara na Masoko wa Benki ya Stanbic, Victoria Kimaro akikabidhi zawadi kwa mmoja wa washiriki wa mafunzo ya ujuzi wa kifedha ya Benki ya Stanbic. Benki ya Stanbic ilitoa elimu kwa zaidi ya watoto 15 wa wateja wake kuhusu ujuzi wa kifedha. Tukio hili lilifanyika jijini Mwanza.

Mshauri wa Uwekezaji kutoka Benki ya Stanbic, Richard Ndisi akitoa elimu kwa watoto wa wateja wa benki hiyo kuhusu ujuzi wa kifedha. Tukio hilo lilifanyika kwa lengo la kudumisha utamaduni wa Benki ya Stanbic wa kutoa elimu ya masuala ya kifedha kwa watoto wa wateja wao, ili kuwawezesha kupata maarifa na ujuzi huo.

Elimu ya Ujuzi wa Fedha ya Benki ya Stanbic Tanzania inaendelea kuhimiza utoaji wa elimu ya fedha kupitia mpango wake wa kipekee unaolenga kuwapa familia stadi muhimu za usimamizi wa fedha. Mpango huu unawalenga watoto kwa kuwaelimisha kuhusu jinsi ya kupata, kutumia, kuweka akiba, na kutoa pesa kwa uwajibikaji, huku ukiwaimarisha katika nidhamu ya kifedha tangu utotoni. Kwa kushirikisha familia katika mbinu shirikishi na za kufurahisha za kujifunza, Benki ya Stanbic inaendelea kuonyesha dhamira yake ya kujenga kizazi chenye uelewa mzuri wa masuala ya fedha na uwezo wa kufanya maamuzi sahihi kwa maisha yao ya baadaye.

Safari hii, utoaji wa elimu ya Ujuzi wa Fedha umefanyika katika Hoteli ya Malaika jijini Mwanza, ikiwa ni maalum kwa wateja wa huduma za Benki binafsi pamoja na familia zao. Tukio hili liliwapa watoto wa wateja fursa ya kushiriki katika shughuli za kuvutia kama vile michezo ya bajeti, mazoezi ya uigizaji wa majukumu, na majadiliano ya kina kuhusu misingi ya fedha. Kwa kuleta mpango huu jijini Mwanza, Benki ya Stanbic imethibitisha tena kujitolea kwake kupanua elimu ya fedha, kuhakikisha kuwa familia nyingi zaidi kote Tanzania zinapata ujuzi muhimu wa usimamizi wa fedha.

VODACOM YAWAPA WASICHANA MAFUNZO YA TEHAMA KUPITIA 'CODE LIKE A GIRL'

Mtaalamu wa mifumo ya kompyuta wa kampuni ya Vodacom Tanzania PLC, Naamini Yonazi akiongea na wasichana wanaofanya mafunzo ya 'Code like a Girl' yanayofadhiliwa na kampuni hiyo kupitia asasi ya dLab jijini Dar es Salaam, mwishoni mwa wiki ikiwa ni muendelezo wa programu hiyo yenye lengo la kuleta fursa kwa wasichana kujifunza na kukuza ustadi wa kidijitali, ikiwa ni hatua muhimu ya kuhakikisha wasichana wanajikita zaidi katika masomo ya Tehama.

Mkuu wa Idara ya Rasilimali watu, Sorayya Shareef akitoa vyeti kwa wanafunzi walioshiriki katika programu hiyo.

Wanafunzi wakiwasilisha kazi zao.

CRDB YASAINI MKATABA WA KUSIMAMIA MIKOPO YA 10% FEDHA ZA HALMASHAURI

Dodoma, Februari 7, 2025 – Benki ya CRDB imefanikiwa kusaini mkataba wa kusimamia utoaji wa mikopo ya asilimia 10 ya mapato ya halmashauri inayolenga kuwainua wanawake, vijana, na makundi maalum.

Kupitia mpango huu, Benki ya CRDB itasimamia mikopo katika halmashauri tano: Jiji la Dar es Salaam, Jiji la Dodoma, Manispaa ya Kigoma, Halmashauri ya Mji wa Mbulu, na Halmashauri ya Wilaya ya Nkasi.

Akizungumza katika hafla ya utiaji saini iliyofanyika katika Ofisi ya Mkuu wa Mkoa wa Dodoma, Mkurugenzi Mtendaji wa CRDB Bank Foundation, Tully Esther Mwambapa ameishukuru serikali kwa imani waliyoipa benki hiyo. Ameeleza kuwa uzoefu wa Benki ya CRDB na taasisi yake ya CRDB Bank Foundation katika usimamizi wa fedha na uwezeshaji wa wananchi utasaidia kuboresha usimamizi wa mikopo hiyo.

“Mpango huu unaendana moja kwa moja na jitihada zetu kupitia programu ya IMBEJU inayolenga kuwainua wajasiriamali wadogo. Tutatoa elimu ya fedha, ushauri wa biashara, na kuhakikisha mikopo inawafikia walengwa kwa uwazi na ufanisi,” alisema.

WAKULIMA MAZAO YA MISITU, CHAKULA NA BIASHARA WAPEWA SOMO NMB KIJIJI DAY NJOMBE

Wakulima wa Mazao ya Misitu, Mazao ya Chakula na Biashara, vikiwemo Vikundi vya Kijamii, Vyama vya Ushirika wa Msingi (AMCOS), Vyama vya Akiba na Mikopo (SACCOS) na Vikundi vya Kuweka na Kukopa (VICOBA), katika Mikoa ya Nyanda za Juu, wametakiwa kulitumia vema Jukwaa NMB Kijiji Day ili kuharakisha ukuaji wao kiuchumi.

NMB Kijiji Day ni Jukwaa la Kujenga Uelewa wa Elimu ya Fedha na Huduma Jumuishi za Kibenki kwa wakazi wa vijiji visivyofikiwa na huduma hizo linaloendeshwa na Benki ya NMB, ambalo mwaka huu linatumika pia kutoa Elimu ya Matumizi ya Nishati Safi ya Kupikia, likilenga kuwafikia wakazi wa vijiji 2,000 kote nchini.

Wito huo umetolewa na Mwakilishi wa Mkurugenzi Mtendaji wa Halmashauri ya Wilaya ya Njombe, Frank Mganga, wakati wa NMB Kijiji Day iliyofanyika wikiendi hii katika Uwanja wa Shule ya Msingi Image, Kata ya Kidegembya, ikiwakusanya pamoja wanachi za kata hiyo na ile ya Katembwe, kushiriki semina na matukio mbalimbali, ikiwemo Bonanza la Michezo.

Akizungumza wakati wa bonanza hilo, Mganga aliiishukuru NMB kwa kupeleka Jukwaa la Kijiji Day katika kata hizo, ambazo zimesahaulika kwa masuala ya Huduma Jumuishi za Kibenki, licha ya uwepo wa wananchi wengi na wakulima wa mazao ya misitu (miti na mbao) na mazao ya chakula na biashara yakiwemo chai, mahindi na viazi mviringo

“Uwingi huu wa wananchi waliohudhuria katika kipindi ambacho wengi wako mashambani, unaashiria kuwa wamechagua kujielimisha kupitia jukwaa lenu hili muhimu kwa ustawi wa maisha yao. Wamefurahia kila kitu hapa kuanzia bonanza lililoanza na ‘jogging’, michezo na hata semina kwa vikundi vya kijamii.

“Wanatamani tamasha hili liendelee kufanyika hapa siku nyingine, ili kuwajengea uelewa zaidi wa huduma za kibenki zinazoweza kuharakisha ukuaji wao kiuchumi na ndio maana tunaipongeza NMB kwa kupachagua hapa na wito wa Serikali kwa wananchi wa Kata za Kidegembye na Matembwe, tumieni fursa zote zilizoletwa na NMB Kijiji Day kwa maendeleo yenu,” alisema Mganga.

NMB KIJIJI DAY EDUCATES FARMERS ON FORESTRY, FOOD & BUSINESS IN NJOMBE

Farmers involved in forestry products, food and commercial crops, along with community groups, primary cooperative societies (AMCOS), savings and credit cooperatives (SACCOS), and savings and lending groups (VICOBA) in the Highlands regions, have been urged to maximize the opportunities provided by the NMB kijiji Day platform to expedite their economic growth.

NMB kijiji Day is an initiative aimed at providing financial literacy and inclusive banking services to residents of unbanked villages, launched by NMB Bank. This year, it also focuses on educating the public on the use of clean cooking energy, targeting 2,000 villages nationwide.

The call was made by the Representative of the Executive Director of the Njombe District Council, Frank Mganga, during the NMB kijiji Day event held this past weekend at Image Primary School grounds, Kidegembya Ward. The event brought together residents from that ward and Katembwe Ward to participate in seminars and various activities, including a sports bonanza.

In his speech at the bonanza, Mganga thanked NMB for bringing the Village Day platform to the wards, which have been neglected in terms of inclusive banking services despite having numerous residents and farmers of forestry products (such as trees and timber) and food and commercial crops, including tea, maize, and potatoes.

"The large turnout of residents, even during farming season, indicates that they have chosen to educate themselves through this vital platform for their livelihoods. They enjoyed everything from the bonanza, which began with jogging, sports, to the seminar for community groups.

"They are eager for this event to continue happening here to gain more insight into banking services that can accelerate their economic growth. This is why we commend NMB for selecting this venue, and we urge the residents of Kidegembya and Matembwe Wards to take advantage of all opportunities brought by the NMB kijiji Day for their development," said Mganga.

NMB Southern Highlands Zone Manager, Wogofya Mfalamagoha, who was accompanied by managers from the NMB branches in Njombe, Mafinga, Makambako, Makete, and Wanging’ombe, stated that to achieve the goal of delivering financial solutions to villages, the bank has planned to reach people where they are, through agents and encouraging businesses to come forward.

"There are many students present at the NMB kijiji Day, and our bank values and appreciates children, which is why we offer Child and Junior accounts. I urge parents to use this platform to open fee-free accounts for their children to instill a saving culture in them.

STANBIC BANK EXPANDS PRIVATE BANKING SERVICES TO MWANZA

Stanbic Bank Tanzania Head of Private Banking, Shangwe Kisanji (left), Stanbic Bank Mwanza Branch Manager, Personal & Business Banking, Geofrey Makondo (centre), and Stanbic Bank customer, GardaWorld Mwanza Branch Manager, Levina Beal, officially launch Stanbic Private Banking service enhancements, in Mwanza. Private Banking is an exclusive financial service designed for high-net-worth clients, including business owners, investors, professionals from various sectors, and business leaders. It enables them to efficiently manage and grow their wealth through financial advisory, investment solutions, and legacy building solutions.

Stanbic Bank Mwanza Branch Manager, Personal & Business Banking, Geofrey Makondo (right), one of the bank’s customers in Mwanza, Hussein Murtaza (center), and Stanbic Bank Tanzania's Head of Private Banking, Shangwe Kisanji, officially launch the Stanbic Private Banking service enhancements in Mwanza.

Stanbic Bank Tanzania Head of Private Banking, Shangwe Kisanji (left), engages in a discussion with some of the bank’s customers in Mwanza following the official launch of the Stanbic Private Banking service enhancements, in the region. In the centre is Levina Beal and Fatma Kimwaga (right).

Stanbic Bank Mwanza Branch Manager, Personal & Business Banking, Geofrey Makondo, speaks with some of the bank’s customers in Mwanza during the official launch event of the Stanbic Private Banking service enhancements, in the region.

Stanbic Bank Tanzania Head of Private Banking, Shangwe Kisanji, delivers a speech during a special occasion organised for some of the bank’s customers in Mwanza to mark the official launch of the Stanbic Private Banking service enhancements, in the region.

Stanbic Bank Tanzania Head of Private Banking, Shangwe Kisanji (fourth left), poses for a souvenir photo with some of the bank’s staff from Mwanza branch during the official launch event of the Stanbic Private Banking service enhancements, in the region.

• Stanbic Bank expands Private Banking to Mwanza – Delivering tailored financial solutions for high-net-worth individuals, business owners, and professionals

• Exclusive wealth management services now accessible in Mwanza – Personalized investment planning, lending solutions, and global banking connectivity

• Empowering future generations – Stanbic introduces Family Wealth Management & Financial Literacy Programs to help clients build lasting financial legacies.

Mwanza - Thursday, 6 February 2025: Stanbic Bank has officially launched its Private Banking Client Value Proposition (CVP) enhancements in Mwanza, furthering its commitment to providing specialized financial solutions that cater to the needs of the region’s growing high-net-worth individuals, business leaders, and professionals. The launch marks a significant step in the bank’s expansion strategy, ensuring that clients in Mwanza have access to bespoke banking services, wealth advisory, and investment solutions tailored to their financial ambitions.

Mwanza, as Tanzania’s second-largest city and a thriving commercial hub, has experienced rapid economic growth, driven by entrepreneurial success, corporate investments, and expanding family wealth. As more clients seek strategic wealth management services, Stanbic Bank is positioning itself as the premier Private Banking partner to support their financial journeys.

Speaking at the launch, Shangwe Kisanja, Head of Private Banking at Stanbic Bank Tanzania, highlighted the importance of providing personalized financial solutions that align with the ambitions of Mwanza’s high-net-worth clientele. “Private Banking is not just about managing money—it’s about partnering with our clients to build, grow, and secure their wealth for future generations. We recognize that our clients in Mwanza require bespoke financial solutions, and our Private Banking proposition is designed to deliver exactly that. From investment planning to tailored lending and legacy management, we provide the expertise and resources our clients need to achieve their financial aspirations.”

Clients who enroll in Stanbic Bank’s Private Banking proposition will gain access to a suite of exclusive financial and lifestyle benefits that go beyond traditional banking.