ECOBANK TANZANIA ASSURES CUSTOMERS OF ITS OPERATIONS IN THE COUNTRY

Ecobank Tanzania’s Head of Corporate Banking, Raphael Onyango, speaks at a press conference in Dar es Salaam yesterday as the bank reaffirmed its commitment to continue offering services in the country. With him is Ndabu Lilian Swere, head of personal/domestic banking.

EcoBank Tanzania acting Managing Director, Raphael Benedict, addresses a press conference in Dar es Salaam yesterday to reaffirm on the bank’s commitment to continue offering services, saying the bank has no intention of closing down its operations in the country. With him is the head of commercial banking, Respige Kimati.  

Ecobank Tanzania’s head of commercial banking Respige Kimati, addresses a media conference in Dar es Salaam yesterday. He assured customers of the bank's operations in the country, saying the bank is here to stay. With him is the Ecobank Tanzania’s acting Managing Director Raphael Benedict.

Ecobank Tanzania has assured customers of its continued operations in Tanzania 

Dar es Salaam. Speaking during a press briefing at their head office in Dar Es Salaam, acting Managing Director, Raphael Benedict said Ecobank Tanzania has no intentions of closing their operations owing to its firm commitment in making a positive difference to Tanzania’s economy. “This was our commitment when we began operations 7 years ago, and it still remains our commitment to date”, said Benedict.

He however admitted that the bank’s non-performing loan portfolio had increased over the past year but hastened to add that the bank had put in place structures and measures to recover this. “We have made significant progress in recovering a number of loans over the past 3 months and we believe the systems we have put in place will yield more positive results within the next few months”.

He added that the bank’s strong foundation backed by major shareholders ensured the bank is a strong, reliable and credible financial partner that can weather any storm.

Ecobank’s major shareholders include Nedbank of South Africa (21%), Qatar National Bank (20%), Public Investments Corporation of South Africa (14%) and International Finance Corporation, an arm of the World Bank (14%).

Benedict added that Ecobank is passionate about supporting the Tanzanian government and the economy. However, in 2016, the bank saw a rise in non-performing loans (NPLs) which had since necessitated a change in its approach and strategy, and a restructuring of its functions in order to recover from the current situation.

And in order to serve its customers better, he added that Ecobank Tanzania has invested heavily in its digital products offering and payment solutions in order to serve its customers more conveniently, and the nation as a whole.

“Recently we launched the Ecobank Mobile Banking App on which the Xpress Account is domiciled. 

The Xpress Account enables customers to open and operate their accounts without physically visiting the branch, saving them time, money and enhancing convenience and efficiency, all of which are part of Ecobank’s vision for Africa. Our future as Ecobank is bright as we are firmly based on a solid foundation.

Once again I wish to reassure our customers and stakeholders that we are here to stay”.

Media Contact

Elizabeth Mungwe,

Email: emungwe@ecobank.com

About Ecobank

Incorporated in Lomé, Togo, Ecobank Transnational Incorporated (‘ETI’) is the parent company of the leading independent pan-African banking group, Ecobank. It currently has a presence in 36 African countries, namely: Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (Democratic Republic), Côte d’Ivoire, Equatorial Guinea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia and Zimbabwe.

The Group employs over 20,000 people in 40 different countries in over 1,200 branches and offices. Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals. Ecobank Tanzania, which is 100% owned by Ecobank Group, has 8 branches spread across the country.More information can be found at: www.ecobank.com.