Bank of Africa Tanzania celebrates 10 years anniversary with special campaign

BOA-TANZANIA Marketing Manager, Research and Development, Mr. Muganyizi Bisheko

By Mnaku Mbani

BANK OF AFRICA has launched an exciting savings campaigns dubbed “Weka AkibaUzawadiwe” in all its branches across the country, to celebrate with customers its 10 years of operation and providing quality financial services in Tanzania, while deepening a smart savings culture.

The “Weka AkibaUzawadiwe” campaign includes a cash prize of 3 million each month to the customer with the most savings and will see a total of TZS 9 million awarded to customers over the course of 3 months stating from 3^rd April 2017.

The BANK OF AFRICA-TANZANIA Marketing Manager, Research and Development, Mr. Muganyizi Bisheko, said that existing and new account holders will enter directly to the monthly draw for every 100 thousand shillings that they will deposit on their accounts, so those who will save more, will stand a chance to win up to 3 million shillings that will be awarded each month for the whole period of the campaign.

Mr. Bisheko added “existing customers and new customers who will deposit more than 1 million shillings over the counter will stand a chance to win instant prizes such as; 10 years Anniversary Polo T-shirts, Water Bottles, Round Neck T-Shirts, Branded Pens, Key Rings and Umbrellas”. 

In the promotion, Normal Savings Account, Ambition Saving Plan, Chama Account, Smart Junior Investor Account, Premium Plus Account, Private Employee Pack, Public Servant Pack and My Business Pack will be eligible for individuals to deposit and grow their balances

"Savings are crucial in empowering people financially, through this campaign we want to encourage a culture of saving amongst our customers. The saved funds could facilitate consumption smoothing and assist in the case of emergence. The same could also allow the self-employed to accumulate funds for making investments in their businesses or covering shortfalls in operating cash flow”, said Bisheko. 

He urged the prospective clients to open savings account with BANK OF AFRICA-TANZANIA, to make the most of this opportunity to make a head start of winning cash and instant prizes, while achieving their savings goals.

“The Bank will also waive account opening fees for the new customers during the period of the campaign” he maintained.

BANK OF AFRICA began operations in Tanzania in June 2007 after acquiring Euroafrican Bank which had been operating in Tanzania since September 1995.

BANK OF AFRICA - TANZANIA is part of the GROUP BANK OF AFRICA, which now operates through a network of commercial banks in 18 counties namely; Benin, Burkina Faso, Burundi, Cote d’ivoire, Djibouti, DRC, Ethiopia, France, Ghana, Kenya, Madagascar, Mali, Niger, Rwanda, Senegal, Tanzania, Togo and Uganda.

The GROUP BANK OF AFRICA has its’ headquarters in Dakar, Senegal with a strong network of more than 500 dedicated operating and service support offices. Since 2010, the BANK OF AFRICA Group has been majority-owned by BMCE Bank, the second largest private bank in Morocco.   BMCE Bank brings strong strategic and operational support to the BANK OF AFRICA Group, as well as direct access to the international market as a result of its presence in Europe and Asia.

At the time in 2007 when Bank of Africa acquired Euroafrican Bank, that Bank was a struggling Bank. But with good products, effective products, efficient management and the support of the Government as well as the enabling environment, profits have increased year on year.

In 10 years, the Bank has moved from 4 branches to 27 branches, total Assets of TZS 90 billion to total Assets today of over TZS 600 billion, increased advances from Tzs 24 billion to Tzs 300 billion, increased number of staff from 128 to 362 with only 2 expatriates. Deposits increased from TZS 73 to over TZs 390 billion, profit grew from what was a loss making Bank to profits of over Tzs 5.6 billion. Efforts in Banking penetration over the 10 years have resulted in number of accounts increasing from 13,000 to over a 140. 000. Total Capital stands at Tzs 37 billion from Tzs8 billion in 2007.

The Bank will continue to widening its nationwide footprint and depth of outreach through the opening of more branches and up scaling the digital and other alternative distribution channels to increase its outreach and foster financial inclusion in the country.  

The Bank will as well remain keen in identifying and understanding customer-value-based needs, then turning them into products that consistently break through the cluster of the marketplace and always pursuing improvements in service delivery to be at par or ahead of our competitors.