UBA BANK OPENS NEW BRANCH IN ARUSHA

UBA Bank Tanzania is pleased to launch its newest Branch in Arusha region which is part of the bank’s continuous effort to reach its customers across the country and provide tailor made products that aim to advance Tanzanian’s personal and business financial requirements to tap into the available business opportunities that are vital to the growth of the Tanzania’s economy.

UBA Bank Tanzania’s Managing Director, Mr. Gbenga Makinde speaks to invited guests during the launch.

Speaking during the launch, UBA Bank Tanzania’s Managing Director, Mr. Gbenga Makinde said, the addition of the branch is part of the bank’s continuous expansion of its services in Tanzania and across Africa and ensure the bank provides services and products at good rates.

Deputy Permanent Secretary - Ministry of Finance and Planning, Lawrence Mafuru, who was the Guest of Honour, speaks to invited guests during the launch.

“We want to ensure we boost our activities and expand in Tanzania and across the African continent and by making sure we provide our services and products at very good rates in terms of lending rates, in terms of bank charges; These are things we have brought to Arusha and clearly you will see a lot of things when you bank with us,” said Gbenga Makinde, Managing Director of UBA Tanzania.

UBA Tanzania’s Head of Retail Banking, Mwinyimkuu Ngalima speaks to invited guests during the launch.

“We have products that speak to the needs of individuals, businesses, cooperates, and SMEs. This is our focus. Governments, institutions, employees from the government and private institutions, we have products that we can supply and give to you to finance your requirements on personal levels to acquire assets for long time businesses and mortgages and all of that,” he added.

On his side, Deputy Permanent Secretary of the Ministry of Finance and Planning, Lawrence Mafuru, commended UBA Bank Tanzania for its continued effort to ensure Tanzanian’s have access to the services provided by the bank through the opening of the new branch.

“On behalf of the Ministry of Finance and Planning and the government, I want to commend UBA Bank for this important step of adding a new 8th branch here in Tanzania. I know a bit about banking and what is being done is called, Financial Intermediation which means connecting those in need of funds and those with excess funds. Thus, for you to reach these groups, you will have to follow them where they are. I am sure that after thorough assessment, the bank was certain that opening another branch in this location in Arusha, you will be reaching more customers. Hence opening a broad business opportunity for yourselves,” said Mafuru.

“The banking sector is crucial to the development of the national economy. As the government, we feel comfortable when we see banks investing in our country and widening their services to reach more citizens. Such a step is an indicator that the government is supported in ensuring the public has access to financial services through banking institutions that are closer to them. Having banking services at proximity heightens the public’s habit of saving money. This also gives hope to the customer of the possibility of saving money at the bank rather than giving due to the problem of having to travel long distances to have access to banking services,” he added.

In further addition, UBA Tanzania Managing Director, Gbenga Makinde also promised to work on the suggestions highlighted by Permanent Secretary of the Ministry of Finance, Lawrence Mafuru, who had challenged the bank to invest more in the country noting that the bank had so far invested USD 70mn/- in the country compared to its competitors and the USD 27bn/- in the bank’s investment in the African continent.

UBA Tanzania’s Head of Retail Banking, Mwinyimkuu Ngalima, outlined, the opening of the branch will serve to reach and advance the bank’s prospective customers engaged in the mining, agriculture, hotel & accommodation, and tourism sectors which are crucial to the country’s economic development.

“We saw that it was vital for UBA Tanzania to become a key stakeholder in developing these opportunities by bringing in affordable and efficient services that are paramount to the progress of the economy in this zone,” Ngalima said.

As one of the best and most resilient banks, UBA has proven expertise and capacity in key sectors of economies across Africa as it provides corporate, commercial, SME, consumer and retail banking services to more than 27 million customers who are served through diverse channels and robust online banking services, and with over 2,669 ATMs and 87,223 PoS.

UBA United Bank for Africa remains to be a leading Pan-African financial institution, connecting people and businesses across 20 African countries through retail, commercial and corporate banking, innovative cross border payments and remittances, trade finance and ancillary banking services with presence in New York, London, Paris and the UAE.