[Tanzania] Equity Bank deepens forays in East Africa with Zanzibar branch
Equity Bank Tanzania, a scion of Kenyan lender Equity Group has unveiled its new Zanzibar branch bringing the number of branches under Equity Tanzania to 14.
This, the lender says is also aligned to the Zanzibar government’s renewed focus on micro business and small scale business.
According to Equity Bank Tanzania managing director Joseph Iha the plan is to expand in Zanzibar through more branches, agent banking and merchant banking.
“As Equity Bank Tanzania, we are committed to deepen financial inclusion and broaden access by expanding our footprint through branches, Agency banking, ATMs and merchant banking. The Bank believes that through this move, it will also significantly contribute towards the achievements of Zanzibar’s economic blueprint Vision 2020," he said.
The Minister for Land, Residences, Water and Energy in Zanzibar, Ms Salama Aboud Tahib, said at the launching ceremony that the Equity Bank efforts to serve Tanzanians at affordable rate are commendable.
“I encourage you to spread the bank’s wings to Pemba with immense opportunities coupled with huge number of customers in need of bank services,” she said.
Currently, the bank has 14 branches in operation, spread in Dar es Salam (Quality Centre, Kariakoo, Golden Jubilee, Supreme, Mwenge, Temeke and Mbagala), Arusha, Mwanza, Dodoma, Moshi, Mbeya and, Zanzibar, Diaspora Branch and growing,” he said.