TWIGA BANCORP RESUMES BANKING OPERATIONS

Customers of the Dar es Salaam Branch of Twiga Bancorp along Samora Avenue in the city queue for services after the bank resumed operations countrywide on Tuesday.

TWIGA Bancorp on Tuesday resumed banking operations with some services remaining pending until the problem of insufficient capital is resolved.

The bank suspended operations for one week after the Bank of Tanzania (BoT) took over the bank’s administration for evaluation after being undercapitalised.

TBB Statutory Manager, Mr Nkwana Magina, said in Dar es Salaam yesterday that BoT has allowed the bank to start operation after the evaluation unveiled the major problem of the bank is capital.

He said that the services would be provided by the bank includes receiving deposits, open accounts, receive credit restoration, withdrawing money on deposit accounts in the amount that will be planned according to the customer’s account.

Magina said that before making money transactions, customers must contact the customer’s services officers for getting directives.

He added that measures to terminate some services have been taken to ensure the services provided by the bank returns to normal procedures. “We want to restore the public trust, protect customers and maintain the strength of banking sector,” he said.

According to the bank new boss, other services offered are ATM, M-Pesa, Tigopesa, Airtel Money and Tancis, while for the customers with fixed accounts, their money will continue to be kept for a further period of six months after it expires and same interest previously entered into.

He added, branches of Dar es Salaam, Mlimani City, Kariakoo, Dodoma, Mwanza, Arusha and the service centre at the Julius Nyerere International Airport (JINA) will resume next week. He added that services which were offered in Kigamboni branch, will be relocated to the Dar es Salaam branch of Samora Avenue.

According to the statement issued by BoT, the bank will continue to be under the supervision of the central bank until the procedures to set up new investment are completed.

Daily News