Ecobank gives 49bn/- to SMEs

Ecobank has given loans worth 31 million US dollars (about 49bn/-) to Small and Medium Enterprises (SMEs) in the last one year.

Ecobank Executive Director Samuel Ayim said in Dar es Salaam that they have given out 41 million US dollars, majority of which has gone to SMEs. But he asked SMEs to register their businesses to strengthen their chances of getting credit to support their businesses.

He was speaking during a brief ceremony to give out prizes to the first group of winners in the ongoing six-month campaign of "Shinda Babkubwa." Mr Ayim said they have accumulated 500,000 bank accounts and expects to get 600,000 in the ongoing deposit campaign.

Fifteen winners were provided with five Ipads, nine vouchers for shopping and one free ticket to Zanzibar in a Shinda Babkubwa with Ecobank monthly promotion held yesterday at Sokoine branch. 

Winners were Yunch Wang, DI Grow Tanzania Ltd, Zenkian Too, Kelvin Francis, Taji Alexander, Grads Njiro, Redlow Trading Company and Super Mover General Traders.

Others were Grayson Mapunda, Aron Nakwenda, Bertha Mwakapenda, Akida Maarifa, Felician Nihuka, Flora Msofe and Chamilius Mahindi. According to Mr Ayim, Ecobank currently has five million customers base served at five branches in Dar es Salaam.

He also said that the bank is soon putting up branches in Arusha and Mwanza but would also set base in Mtwara to target to expected thriving gas sector.

Ecobank has Automated Teller Machines (ATMs) at five branches while other four ATMs are located at different areas in the city, bringing the total number of ATMs in Tanzania and three thousands machines in 32 countries in which Ecobank operates.

"We are soon expecting to launch a master ATM card whereby customers will be able to draw cash from our three thousand ATMs in 32 countries," explained Mr Ayim.
Source:  The Daily News,, reported by Frank Joseph of SJMC
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