Letshego Bank Tanzania is a commercial bank regulated by the Bank of Tanzania. Its social mission is to provide suitable and sustainable financial services to micro, small, and medium-sized entrepreneurs, and to low and medium income employees. It operates as a microfinance bank. As of March 2014[update], the shareholders equity was valued at about TSh 11.4 billion (US$6.5 million or €5.2 million). At that time, customer deposits totalled approximately TSh 3.9 billion (US$2.23 million or €1.8 million). It is estimated that the bank's total assets in March 2014 totaled TSh 15.3 billion (US$8.7 million or €7 million).[2]
Historyedit
The bank, then known as Advans Bank Tanzania received a commercial banking license from the Bank of Tanzania in May 2010. In February 2011, the bank opened its first branch in Dar es Salaam, the commercial capital city of Tanzania, and the largest city in that East African country. Opening with a staff of eighteen, the bank planned to open more branches in Dar es Salaam and other areas of the country.[3]
^Bank of Tanzania (6 May 2018). (PDF). Dar es Salaam: Bank of Tanzania. Archived from the original (PDF) on 27 January 2018. Retrieved 6 May 2018.
^"Advans Bank Tanzania Annual Report April 2013 - March 2014" (PDF). AdvansBankTanzania.Com. March 2014. Retrieved 8 November 2014.
^. MicroFinanceFocus.Com. 24 February 2011. Archived from the original on 8 November 2014. Retrieved 8 November 2014.
^The Citizen Reporter (29 July 2016). "Tanzania: Rebranded Bank's Promise". The Citizen (Tanzania) via AllAfrica.com. Dar es Salaam. Retrieved 29 July 2016.
^"Letshego Acquires 75 Percent Stake In Advans Bank Tanzania To Advance Its Financial Inclusion Agenda For Africa" (PDF). Dar es Salaam: Advans Bank Tanzania. 16 November 2015. Retrieved 29 July 2016.
^"The Branch Network of Letshego Bank". Advans Bank Tanzania. Retrieved 8 November 2014.
letshego, bank, tanzania, limited, commonly, known, letshego, bank, commercial, bank, tanzania, licensed, bank, tanzania, central, bank, national, banking, regulator, letshego, bank, limitedcompany, typeprivateindustryfinancial, servicesfounded2011headquarters. Letshego Bank Tanzania Limited commonly known as Letshego Bank is a commercial bank in Tanzania licensed by Bank of Tanzania the central bank and national banking regulator 1 Letshego Bank T LimitedCompany typePrivateIndustryFinancial servicesFounded2011HeadquartersDar es Salaam TanzaniaKey peopleClaude FalgonChairmanUnknownCEOProductsLoans Checking Savings Investments Debit CardsTotal assetsTSh 15 3 billion US 8 7 million March 2015 Number of employees179 2014 Websitewww wbr advansbanktanzania wbr com Contents 1 Overview 2 History 3 Ownership 4 Branch network 5 Governance 6 See also 7 References 8 External linksOverview editLetshego Bank Tanzania is a commercial bank regulated by the Bank of Tanzania Its social mission is to provide suitable and sustainable financial services to micro small and medium sized entrepreneurs and to low and medium income employees It operates as a microfinance bank As of March 2014 update the shareholders equity was valued at about TSh 11 4 billion US 6 5 million or 5 2 million At that time customer deposits totalled approximately TSh 3 9 billion US 2 23 million or 1 8 million It is estimated that the bank s total assets in March 2014 totaled TSh 15 3 billion US 8 7 million or 7 million 2 History editThe bank then known as Advans Bank Tanzania received a commercial banking license from the Bank of Tanzania in May 2010 In February 2011 the bank opened its first branch in Dar es Salaam the commercial capital city of Tanzania and the largest city in that East African country Opening with a staff of eighteen the bank planned to open more branches in Dar es Salaam and other areas of the country 3 Ownership editThe institution opened in 2011 as Advans Bank Tanzania a joint venture between Advans SA a venture capital firm registered in Luxembourg as majority shareholder 70 percent and Netherlands Development Finance Company FMO 30 per cent Advans SA aims to establish microfinance financial institutions in emerging economies Founded in 2005 Advans SA owns microfinance institutions in the Democratic Republic of the Congo Cameroon Ghana Cambodia Pakistan Cote d Ivoire and Tanzania As of March 2011 update Advans SA had invested in excess of US 76 million 55 million in the countries where they operate In November 2015 Letshego Holdings Limited of Botswana acquired 75 per cent in the bank by investing US 7 million in new shares 4 The table below depicts the shareholding within Letshego Bank Tanzania as of November 2015 5 Letshego Bank T Limited Stock Ownership Rank Name of Owner Percentage Ownership1 Letshego Holdings Limited of Botswana 75 01 Advans SA of Luxembourg 17 52 Netherlands Development Finance Company of Netherlands 7 5Total 100 00Branch network editLetshego Bank maintains a network of branches at the following locations 6 Manzese Branch 93 Morogoro Road Manzese Darajani Dar es Salaam Main Branch Kariakoo Branch Kariakoo Street at Lumumba Street Kariakoo Dar es Salaam Temeke Branch Opposite Temeke Primary Court Temeke Dar es Salaam Mwanza Branch Lumumba Road Opposite Mayi Hotel Mwanza Mbeya Branch Soweto Former Royal Zambezi Mbeya Governance editThe Acting Chief Executive Officer of the bank is Andrew Charles Tarimo See also edit nbsp Banks portalList of banks in Tanzania List of banks in Africa Bank of Tanzania Economy of Tanzania Advans Banque Congo Letshego Microfinance UgandaReferences edit Bank of Tanzania 6 May 2018 The Directory of Banks and Financial Institutions Operating in Tanzania as at 30th June 2017 PDF Dar es Salaam Bank of Tanzania Archived from the original PDF on 27 January 2018 Retrieved 6 May 2018 Advans Bank Tanzania Annual Report April 2013 March 2014 PDF AdvansBankTanzania Com March 2014 Retrieved 8 November 2014 Advans SA Opens Fourth Greenfield Microfinance Institution In Tanzania MicroFinanceFocus Com 24 February 2011 Archived from the original on 8 November 2014 Retrieved 8 November 2014 The Citizen Reporter 29 July 2016 Tanzania Rebranded Bank s Promise The Citizen Tanzania via AllAfrica com Dar es Salaam Retrieved 29 July 2016 Letshego Acquires 75 Percent Stake In Advans Bank Tanzania To Advance Its Financial Inclusion Agenda For Africa PDF Dar es Salaam Advans Bank Tanzania 16 November 2015 Retrieved 29 July 2016 The Branch Network of Letshego Bank Advans Bank Tanzania Retrieved 8 November 2014 External links editWebsite of Letshego Bank Tanzania Tanzania Rebranded Bank s Financial Inclusive Approach Praised Retrieved from https en wikipedia org w index php title Letshego Bank Tanzania amp oldid 1176271940, wikipedia, wiki, book, books, library,
