BARCLAYS BANK TANZANIA LIMITED ENCOURAGES YOUTH ECONOMIC GROWTH THROUGH SHARED GROWTH

University Entrepreneurship Challenge founder, Victor Joseph (right), addressing reporters at a media conference in Dar es Salaam yesterday to announce the winners of Barclays Bank sponsored, entrepreneurship challenge competition whereby three University of Dar es Salaam (UDSM) students through their company namely, TanzDevs Co won. One of the students will represent Tanzania in the coming Global Student Entrepreneur Awards to be held in Germany. On his right are, Barclays Bank Tanzania Head of Marketing & Corporate Relations, Aron Luhanga, Elias Makala, Samwel Sirikwa and Elead Mrina both from TanzDevs Co.

Barclays Bank Tanzania Limited through its Shared Growth initiative enables companies to make a broad impact on society by supporting their commercial interests by creating a skilled workforce and developing new markets. Shared Growth is not corporate social responsibility or philanthropy – it focuses on making profits in a way that benefits the business and society. Tanzania has largely failed to translate its economic growth into opportunities for its young workforce to earn decent livelihoods. This means that much of the countries growth potential is wasted, which feeds the risk of social unrest and crime. By partnering with Universities Entrepreneurship Challenge Barclays aims to make a difference in our society while generating a commercial return.

University Entrepreneurship Challenge is a project aimed at recognizing and supporting young entrepreneurs who will build successful businesses and shape the future of Tanzanian economy, it’s about encouraging an enterprising spirit and innovation among Tanzanian youth. We are gradually building a culture of innovation among university students in Tanzania”, says Victor Joseph, Founder of the entrepreneurship challenge.

The winning startup known as TanzDevs Co, is a Team of 3 students from the University of Dar es Salaam (UDSM) and they develop and prepare interactive learning/teaching materials which are far more better in context delivery than ever before in the Tanzanian education system. These materials are mobile vision enhanced books and enhanced printed surface which present context in form of 3D object and video animation which accelerates contextual understanding.

Barclays Tanzania Head of Marketing and Corporate Relations, Aron Luhanga said that, “Entrepreneurship is important for the future of our economy, its crucial we empower youth to build businesses and create jobs, thus providing solutions to social problems and this is why Barclays Bank has committed to support this program and the entrepreneurs who will arise from it, we want to apply our substantial resources to address socioeconomic challenges through innovative services, products and partnerships”.

The Global Student Entrepreneur Awards (GSEA) is the premier global competition for students who own and operate a business while attending college or university. Nominees compete against their peers from around the world in a series of local and/or national competitions in hopes to qualify for GSEA Finals. Founded in 1998 by Saint Louis University, GSEA is now an Entrepreneurs’ Organization program.

TanzDevs Co. will go and compete with other global contestants in the GSE Awards which also aims to support student entrepreneurs who require much needed mentorship, recognition and connections to take their businesses to the next level of success.

For further information please contact:

Aron Luhanga
Head, Marketing & Corporate Relations
Barclays Bank Tanzania
+255 768 221 717
aron.luhanga@barclayscorp.com

About Barclays Bank Tanzania

Barclays Bank Tanzania has been operating in Tanzania for the past 10 years and currently boasts a network of 15 branches, 52 ATMs strategically located countrywide.

Barclays Bank Tanzania Limited first opened its doors in Tanzania in 1925 and continued to operate in the country until 1967 when its Tanzania operations were nationalized to become National Bank of Commerce. With the liberalization of the economy in 1990s, Barclays Bank Plc made a decision to re-enter the Tanzania market and re-opened its doors in the year 2000. Barclays Bank Tanzania now has 15 branches, 52ATMs strategically located countrywide, over 400 employees and over 110,000 customers.

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About Barclays Africa Group Limited

Barclays Africa Group Limited (Barclays Africa Group or the Group) is 62.3% owned by Barclays Bank PLC (Barclays) and is listed on the JSE Limited. The Group is one of Africa’s major financial services providers offering personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance. We combine our global product knowledge with regional expertise and have an extensive, well established local presence.

The Group was formed through combining Absa Group Limited and Barclays’ African operations on 31 July 2013. Reflecting the enlarged group’s pan-African focus, our name changed from Absa Group Limited to Barclays Africa Group Limited on 2 August 2013.