Equity Bank expands East African foothold with new Zanzibar branch
Listed lender Equity Bank Tanzania has opened a new branch in the coastal city of Zanzibar as it seeks to strengthen its foothold in the region and tap into growing tourism economy.
The new branch brings to 14 the number of branches the lender has opened in Tanzania.
Equity Bank Tanzania Managing Director, Joseph Iha says the new branch will act as a gateway to tap into the vast investment opportunities found in the region.
“Since 2012 when Equity Bank set foot here in Tanzania, we have made major investments that have seen us play a pivotal role towards the economic growth of the Tanzanian economy as well as the financial sector as a whole. Our entry into Zanzibar underscores our commitment to further entrench our offering into the region,” Iha said.
He says the move is part of the bank’s strategic expansion plan and augment its overall strategy to position itself as a champion for socio-economic prosperity of the people of Africa.
“The bank believes that through this move, it will also significantly contribute towards the achievements of Zanzibar’s economic blueprint Vision 2020,” Iha noted.
The bank is keen on expanding its services across Africa and continues to put in place the necessary steps geared towards fulfilling the financial inclusion agenda.
Equity Bank Tanzania Limited commenced its operations in 2012 with two branches. Currently, the bank has 14 branches in operation, including Quality Centre, Arusha, Kariokoo, Golden Jubilee, Mwanza, Supreme Centre, Mwenge, Mbagala, Dodoma, Temeke, Diaspora Branch, Moshi, Mbeya and Zanzibar.
Equity Bank Tanzania is part of Equity Group Holdings which has other banking subsidiaries in Kenya, Uganda, South Sudan, Rwanda and the Democratic Republic of Congo.
