TWIGA BANCORP TO OPEN BRANCH AT KARIAKOO

Twiga Bancorp will next week open a new branch at Kariakoo to bring to six the number of its branches in Dar es Salaam, as it seeks to tap into market opportunities in the bustling business area of the city.

The bank’s Chief Executive Officer (CEO) Mr Cosmas Kimario, said in the city yesterday that the new branch would facilitate service to its customers, largely traders at Kariakoo market.

He said the decision by the public financial institution to open the new branch was to heed to the directive by the government to expand its service.

“Twiga Bancorp has decided to open the new branch at Kariakoo as a number of customers who benefit from our loan scheme keep increasing at the area,” said the Twiga Bancorp CEO.

He pointed out that Twiga Bancorp as the public financial institution has a role to play in the economic growth by empowering small scale entrepreneurs economically.

In July, the Treasury Registrar (TR) Lawrence Mafuru said Twiga Bancorp customers’ savings were safe and the bank was steady to offer its services. The clarifications came following recent media reports that the financial institution was in crisis, saying the media misinformed the public on its stance.

“Reports that the bank is about to be closed is not true. Such misinformation might cause panic to customers as financial institution keeps savings,” said the TR.

Mr Mafuru explained that the government gave directives to Twiga Bancorp to address challenges facing the financial institution pointing out that the bank was in need of capital to strengthen its services.