Business / News
Monday, 20 Feb 2017 09:28 EATnewsdesk@kenyafreepress.com
Equity Bank has officially commissioned its newest branch in the coastal city of Zanzibar as it seeks to deepen its forays in the entire East African region. 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.
Mr Joseph Iha, the Managing Director of Equity Bank Tanzania, said the move is part of Equity Group’s pursuit of its vision to champion the socio-economic prosperity of the people of Africa. “As Equity Bank Tanzania, we are committed to deepen financial inclusion and broaden access by expanding our footprint through branches, agency banking, ATMs and merchant banking. The Bank believes that through this move, it will also significantly contribute towards the achievements of Zanzibar’s economic blueprint Vision 2020”, said Mr Iha.
Speaking during the ceremony, Tanzania Minister for Lands, Energy, Water and Environment, Hon. Salama Aboud Talib said, "We are happy and encouraged to see Equity Bank developing products and services that support all members of the society and in different sectors of the economy including some previously perceived as high risk, due to lack of collateral and high costs of serving them."
“I’m glad to learn that Equity Bank provides financial literacy to its customers especially women and youth, for better management of their finances to grow their businesses. We need that here to empower our people as they pursue their various economic activities,” she added.
Equity Bank Tanzania currently 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, Diaspora and Zanzibar.
Jack is a business and society writer at the Kenya Free Press