Ecobank to expand to Arusha, Mtwara

Ecobank Tanzania has unveiled plans to expand to Arusha and Mtwara before the end of this year.

The Bank’s Managing Director, Mr Enoch Osei-Safo, (pictured) said in Dar es Salaam over the weekend that the bank will also invest heavily in mobile banking to achieve its goal of countrywide coverage.

The bank chief was speaking during a sensitisation forum that the bank had organised for the business community at Kariakoo. 

The bank sought to sensitise its potential customers about the bank’s capacity to trade and execute payments in Chinese Yuan in support of expanding trade volume between Tanzania and China.

“We currently have six branches, five in Dar es Salaam and one in Mwanza…we are looking forward to open two more branches in Arusha and Mtwara by the end of the last quarter of the year,” he said, adding that the bank will also put in place Automated Teller Machines across the country and invest highly in mobile banking as a way of reaching as many customers as possible.

Kariakoo Branch Manager, Japhet Fungo, said the bank was committed to serve Small and Medium Enterprises (SMEs), who makes up over 50 per cent of the bank’s customers through connecting them with China.

“We have a dedicated desk in Dar es Salaam committed to provide end to end services and another one in Beijing, China and by so doing businesses between the two countries have been simplified,” he said.

He added that increasing the Sino-Tanzanian import and export trade through Tanzania to China corridor was deliberately done given the booming trade between the two countries and increased investments estimated to reach over 1billion US dollars (over 1.6trn/-) in 2012.

The forum aimed at enabling traders to understand the dynamics of importing from China and how to leverage the Ecobank China Desk to overcome such challenges. The bank’s head of treasury, Mr Erick Mushi said the bank’s one-stop centre services have been simplified and contextualised for the Kariakoo business to underscore strong customer focus.
 Source: The Daily News, reported by Abdulwakil Saiboko from Dare es Salaam, Tanzania
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