Equity Bank has commissioned its newest branch in the coastal city of Zanzibar as it seeks to deepen its presence East Africa. The Zanzibar branch brings to 14 the number of Equity branches in Tanzania and is part of the bank’s planned regional expansion. It is also aligned to the Zanzibar government’s renewed focus on micro business and small scale business.
Speaking during the launch, Equity Bank Director, Prof Ahmed Mohamed Ame, noted that the move is part of Equity’s pursuit of its vision to champion the socio-economic prosperity of the people of Africa. Equity Bank Tanzania Managing Director Joseph Iha said the new branch will significantly contribute towards the achievements of Zanzibar’s economic blueprint Vision 2020.
“Our plan and commitment is to expand our presence here in Zanzibar through more branches, Agent banking and merchant banking. We have partnerships with all global Card Associations and therefore our ATMs and Point of Sale terminals accept payments by cards from all Card Associations worldwide,” added Mr Iha.
Equity Bank Tanzania is the only bank in the country that offers financial literacy training aimed at empowering its customers, mainly women and youth, with financial management skills, a move that has led to the growth of its Fanikisha loan products. These products are designed to support women and youth to do business and participate in the development of Tanzania. Currently, the bank has 14 branches in operation, spread in Dar es Salam (Quality Center, Kariakoo, Golden Jubilee, Supreme, Mwenge, Temeke and Mbagala), Arusha, Mwanza, Dodoma, Moshi, Mbeya and, Zanzibar, Diaspora Branch and growing.
The branch network is supported by over 1,050 agents and merchants and 17 ATM outlets. The bank has plans to expand its services to take services closer to the people in Tanzania.
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