STANBIC BANK LAUNCHES “BIMA BOMBA” INSURANCE

Stanbic Bank Tanzania Head of Personal and Business Banking, Brian Ndadzungira.

Dar es Salaam, 23 Nov 2020 - Stanbic Bank Tanzania continues to make dreams real for its customers through its tailored and innovative solutions. The bank has launched bancassurance services dubbed “Bima Bomba’’ which aims to provide its customer, with insurance policies for protecting and securing their assets and investment from potential risk.

Speaking on the new offering, the bank’s Head of Personal and Business Banking, Brian Ndadzungira said, “ As a customer-centric bank, we understand that an accident or damage can affect you or your assets financially and physically. This is why as part of our bancassurance we have rolled out this solution to encourage Tanzanians to safeguard their assets and start considering insurance as a basic need."

He further welcomed all Tanzanians to secure their assets with Stanbic bank. "Our clients now have the opportunity to access insurance services in all our branches. The launch of Bima Bomba complements our mission that aims to empower the financial success of our customers through a full suite of accessible, simple and easy to use products”. Ndadzungira noted.

According to the 2018 annual performance report by Tanzania Insurance Regulatory Authority (TIRA), the insurance market grew by 8.6 per cent, therefore, the bank also aims to continue propelling the industry and increase its contribution to the national GDP.

“We believe that our financial advisory expertise and knowledge of local markets helps us provide premier insurance solutions tailored to our customers. These elements will empower them to grow and protect their investments,” Ndadzungira said.

Stanbic Bank Tanzania

Stanbic Bank Tanzania is part of the Standard Bank Group, Africa’s largest bank by assets.

Stanbic Bank Tanzania provides the full spectrum of financial services. Its Corporate & Investment Banking (CIB) division serves a wide range of requirements for banking, finance, trading, investment, risk management and advisory services. Corporate & Investment Banking delivers this comprehensive range of products and services relating to: investment banking; global markets; and global transactional products and services.

Standard Bank’s corporate and investment banking expertise is focused on industry sectors that are most relevant to emerging markets. It has strong offerings in mining and metals; oil, gas and renewables; power and infrastructure; agribusiness; telecommunications and media; and financial institutions.

Stanbic Bank Tanzania’s Personal and Business Banking unit (PBB) offers banking and other financial services to individuals and small-to-medium enterprises. PBB serves the increasing need among Africa’s small business and individual customers for banking products that can meet their shifting expectations and growing wealth.

For further information, go to www.stanbicbank.co.tz

Or please contact:

Desideria Mwegelo
Head of Marketing
mwegelod@stanbic.com
Tel +255 (0) 22 219 6343