Equity Bank Group has officially launched operations in Tanzania as it seeks to enhance its market share within the East African region while replicating its successful business model. The launch saw the unveiling of their head office in Dar es Salaam today in a ceremony presided over by Hon Janet Mbene, Deputy Minister for Finance, representing H.E President Jakaya Kikwete.
Equity Bank Tanzania, a commercial bank licensed by the Bank of Tanzania started its operations in February 2012. Equity Bank’s Group business model has been a success prompting the development of a regional diversification strategy which has already been replicated in Uganda, South Sudan and Rwanda.
The Bank has adopted a customer-focused and market-led approach to business and aims to increase the level of access to financial inclusion.
“Equity Bank’s entry into Tanzania will play a major role in the microenterprises, SME, industrial and retail sectors as it continues to contribute positively to the growth of the Tanzania economy,” said Prof Rwesagira.
Equity Tanzania has launched operations with five branches in Dar es Salaam, Arusha and Mwanza.