ABSA BANK TANZANIA SCOOPS 11 PRESTIGIOUS AWARDS IN 2024

Absa Bank Tanzania Managing Director, Obedi Laiser (left), speaks to journalists while announcing the bank's achievements during the year 2024. With him is Absa’s Head of Marketing and Corporate Relations, Aron Luhanga.

Absa Bank Tanzania Managing Director, Obedi Laiser (left), showcases one of the awards the Bank won while speaking to journalists to announce the bank's achievements for 2024 as well as 11 various awards they received. He is flanked by Absa Bank Head of Marketing and Corporate Relations, Aron Luhanga.

Absa Bank Tanzania Managing Director, Obedi Laiser (third left), in a group photo with Senior Officials of the bank, showcases to journalists 11 awards the bank won in 2024 during a meeting held in Dar es Salaam over the weekend.

• Recognition Highlights Bank’s Excellence in Financial Innovation, Leadership, and Customer Focus

Absa Bank Tanzania is proud to announce its remarkable achievement of winning 11 prestigious awards in 2024. These accolades recognize the bank’s outstanding contributions to financial empowerment, innovation, and excellence in governance and customer service.

Key awards received this year include:

• Fastest growing Banking Brand 2024, awarded by World Brand Magazine.
• Fastest Growing SME Bank Tanzania 2024 and Fastest Growing Retail Bank Tanzania 2024, awarded by the World Economic Magazine Awards.
• Outstanding Work Supporting Women Access to Finance in Tanzania, awarded by the Tanzania Women Industrial Awards.
• MD/CEO of the Year, awarded by the Top 100 Executive List Awards.
• Best Bond Dealer of the year - awarded by Dar es Salaam Stock Exchange.
• Best Presented Financials 2023, awarded by the National Board of Accountants and Auditors.
• Best Improved Employer of the Year and Best in Talent Management and Development, awarded by the Association of Tanzania Employers.
• The Bank Offering the Most Friendly and Tranquil Loan Services in Tanzania, awarded by Consumer Choice Awards 2024.
• Most Preferred Convenient and Accessible Bank in Southern Africa, awarded by Consumer Choice Awards 2024.

Absa Bank Tanzania’s stellar performance in 2024 is reflected in its strong financial results for the first half of the year. Total revenue grew by 25% to TZS 105 billion, while profit before tax surged by 65% to TZS 54 billion. With customer deposits increasing by 21%, the bank’s success demonstrates its resilience and ability to deliver sustainable growth.

The Fastest Growing Banking Brand award celebrates Absa Bank Tanzania’s remarkable progress since launched in 2020. In just four years, Absa has achieved the same level of trust and recognition as some of the local and international banks that have nearly a century of legacy in Tanzania. This recognition is deeply connected to Absa’s brand promise: Your story matters. It reflects the bank’s unwavering dedication to valuing customers’ unique journeys, creating innovative solutions, and empowering communities.

The award for Outstanding Work Supporting Women Access to Finance in Tanzania reflects Absa’s commitment to fostering financial inclusion. Through products like the Absa She Business Account, the bank has empowered women entrepreneurs with access to free banking services, advisory support, and capacity-building programs.

In the SME sector, Absa’s tailored solutions and strategic partnerships have propelled the bank to win the Fastest Growing SME Bank Tanzania 2024 award.

The Fastest Growing Retail Bank Tanzania 2024 award highlights the bank’s focus on digital transformation and customer convenience, including the expansion of agency banking and innovative solutions like the Mobi Tap payment platform and more.

The recognition of the Managing Director as MD/CEO of the Year and the bank’s receipt of the Best Presented Financials 2023 award underscore Absa’s commitment to strong governance, transparency, and exemplary leadership.

Accolades from the Consumer Choice Awards, such as The Bank Offering the Most Friendly and Tranquil Loan Services in Tanzania, reflect Absa’s dedication to putting customers at the heart of its operations.

Speaking during the press conference, Obedi Laiser, the bank’s Managing Director, said “These awards are a testament to the strength of our partnerships with our customers and stakeholders. We are honored to be recognized across so many domains, and we remain committed to empowering Africa’s tomorrow through innovative, inclusive, and impactful banking solutions”.

As Absa Bank Tanzania continues its journey of growth and transformation, it remains steadfast in its mission to deliver excellence and empower communities. These awards are a reflection of the bank’s unwavering dedication to innovation, transparency, and customer satisfaction.