ABSA BANK TANZANIA PROVIDES PAYMENT HOLIDAY FOR ITS CUSTOMERS

Absa Bank Tanzania Managing Director, Mr. Abdi Mohamed.

• A three months’ loan repayment holiday,

• For Retail Banking, Business Banking, and Corporate and Investment Banking segments,

• Will not attract additional administration fees for customers.

Tanzania, 3 June 2020 - As Tanzania and the world confront the financial and economic implications of the Covid-19 pandemic, Absa Bank Tanzania has implemented a payment holiday programme to its customers spanning across Retail, Business Banking, and Corporate and Investment Banking segments.

The comprehensive debt relief programme is a three months’ loan repayment holiday, which comes alongside other efforts initiated by the bank to support its customers amidst covid-19 pandemic. The programme, which started in April, is being conducted in full compliance with the Bank of Tanzania regulatory requirements.

Speaking about the relief programme, the bank’s Managing Director, Mr. Abdi Mohamed, said “We realize that this is a difficult time for many of our customers and businesses whose financial means are being negatively affected. As such, being responsible financial partners we are happy to support our customers and businesses in order to continue to build thriving businesses and a vibrant economy despite the present challenges.

We urge those customers who have not been impacted to continue making their payments as usual. This will enable us to extend this relief programme to many more customers who may have pressing needs. Customers are encouraged to reach out to their Relationship Managers”

On his part, the Head of Client Experience, Mr. Samuel Mkuyu, said “Our passion for our customers is as strong as ever and our commitment to serve and protect them is unwavering. This is why our services continue to run smoothly even as we adhere with the guidelines and protocols set out by the Ministry of Health. We continue to encourage our customers to use our digital channels which are more efficient and safer given the present time circumstances.

For more information, please contact:
Aron Luhanga
Head, Marketing & Corporate Relations
Absa Bank Tanzania Limited
+255 768 221 717
aron.luhanga@absa.africa

About Absa Bank Tanzania
Absa Bank Tanzania Limited is a leading commercial bank in Tanzania that currently boasts a network of 15 branches and 62 ATMs strategically located Tanzaniawide – 21 at all our branches and 49 offsite.

The Bank is a wholly owned subsidiary of Absa Group Limited.

Absa Bank Tanzania Limited, (registered number 38557), is regulated by the Bank of Tanzania.

About Absa Group Limited
Absa Group Limited (‘Absa Group’) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups.

Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance.

Absa Group has a presence in 12 countries in Africa, with approximately 40,000 employees.

The Group’s registered head office is in Johannesburg, South Africa, and it owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia. The Group also has representative offices in Namibia and Nigeria, as well as insurance operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia, and an international representative office in London and soon in New York.

For further information about Absa Group Limited, please visit www.absa.africa