TANZANIA Postal Bank (TPB) has
presented to the cabinet secretariat a proposal seeking permission for
the bank to be registered under company laws to pave the way to listing
on the Dar es Salaam Stock Exchange (DSE).
TPB
Chief Executive Officer (CEO) Sabasaba Moshingi said the plans to list
on DSE remains intact and hopefully coming next January the bank would
be in a better position to know the date of listing.
“The groundwork is progressing well,” Mr
Moshingi said, “The cabinet has our proposal and hopefully our position
will be known by next January.” He said the listing strategy has the
blessings of the board of directors, saying currently TPB cannot create
money as it remains a financial institution.
Mr Moshingi was speaking at the launch
of the bank’s redesigned website to cater for the growing customers’
needs and increasing competition in the banking industry. He said the
bank’s core aim at the moment is to make it operate more efficiently
while increasing profitability level by introducing various vehicles to
better client services.
The TBP Director of Technology and
Operations, Mr Jema Msuya said the new website that was redesigned using
internal and external expertise has a number of pleasing features
compared to the previous one, “We have to stay abreast as competition
increases daily.”
Some of the features include an opinion
window where customers and non-customers could send their views
regarding anything on the bank services and get replies. “Experts also
are working on language issue so that the website could have both
Swahili and English option,” Mr Msuya said.Currently it only feature one
language—English.
The bank, which expects to make 5bn/- net profit at
the end of this year from the previous 3.5bn/-, has 28 branches with
over 600,000 customers across the country.
TPB was established by the
Act of Parliament in 1992 as corporation. The five year master plan is
to increase the bank’s capital by 10bn/- in five years.
Source: The Daily News,http://www.dailynews.co.tz, reported by Abduel Elinaza
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