3 March 2014

Tanzania: Exim Bank Launches Corporate Centre in Arusha

EXIM Bank Tanzania has launched a corporate centre in Arusha to cater for its corporate clients needs within the region.

Speaking during the launch of the centre, the Exim Bank Tanzania Board Chairman Yogesh Manek said the new corporate branch was another testimony of the commitment of the bank to offer service of highest level to its clients.

"Our new facility will cater for all corporate clients' needs by providing a full range of tailored corporate banking solutions in one convenient location," he said.

"We believe the corporate centre will go a long way in supporting economic activity in Arusha Region which include forestry, industrial development, mining, agro-economic zone, wildlife and natural resources as well as real estate development.

Mr Manek said the Arusha corporate centre was fully equipped and specialised to provide the broadest suite of corporate banking solutions specifically tailored to the needs of the bank's corporate clients that include cash transfers, loans, trade finance, and treasury.

He said the bank is set to embark on a three year ambitious expansion strategy that seeks to enhance the bank's service offering by expanding the bank's branch network to 50.

Under the strategy the bank would increase its Automated Teller Machines to 100 and will have 1000 Point of Sales (POS) across the country by the end of 2016.

"We are seriously working on installation of a very sophisticated and world class banking system that will enhance our service delivery," he said.

He said the bank will be increasing its operating profit to 50bn/- per year and pay up to 50bn/- in taxes to the government.

The Exim Bank Arusha Corporate Centre Senior Branch Manager Hamad Said during the event said the branch will continuously work around the clock to enhance its service quality while providing a unique, smooth and fully integrated client experience.

The Arusha Regional Commissioner Magesa Mulugo said Exim Bank's corporate centre came at the right time as the region was prepared for increased local and foreign investments.

"The region is set to embark on more development projects especially in the infrastructure sector, tourism and hospitality.

It is my belief that the new corporate centre will provide the necessary finances to support development of the projects," Mulugo said.

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