Equity Bank Tanzania Managing Director, Joseph Iha (Centre) with Tanzania Minister for Lands, Water, Energy and Environment Salama Aboud Twalib. Equity Bank has opened a branch in Zanzibar.[Photo: Ogilvy]
Equity Bank has commissioned its newest branch in Zanzibar as it seeks to deepen its forays in the East African region.
The Zanzibar branch brings to 14 the total number of Equity branches in Tanzania and is part of the Bank’s planned regional expansion.
It is also aligned to the to the Zanzibar government’s renewed focus on micro business and small scale business.
Speaking during the launch, Equity Bank Director, Prof Ahmed Mohamed Ame noted that the move is part of Equity Group’s pursuit of its vision to champion the socio-economic prosperity of the people of Africa.
“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”, said Mr. Joseph Iha, the Managing Director of Equity Bank Tanzania.
Speaking during the ceremony, Tanzania Minister for Lands, Energy, Water and Environment, Salama Aboud Talib said: " We are happy and encouraged to see Equity Bank developing products and services that support all members of the society and in different sectors of the economy including some previously perceived as high risk, due to lack of collateral and high costs of serving them. This had made banking services seem way out of reach for many of our people.”
She said that Equity is introducing a banking model which caters to all categories of customers.