Mkombozi Commercial Bank

Last updated
Mkombozi Commercial Bank
TypePrivate
DSE:  MKCB
Industry Financial services
Founded2009
Headquarters Dar es Salaam, Tanzania
Key people
Marcellina Mvula Chijoriga
Chairman
Respige Kimati
Managing Director
Products Loans, Checking, Savings, Investments, Debit Cards
RevenueIncrease2.svgAftertax: TSh 806 million (US$346,800+ (2018)
Total assets TSh 178.82 billion (US$76.94 million) (2018)
Website www.mkombozibank.co.tz

Mkombozi Commercial Bank Plc. is a commercial bank in Tanzania. It is licensed by Bank of Tanzania, the central bank and national banking regulator. [1] Mkombozi is a Swahili word meaning Savior [2]

Contents

Overview

The bank is a small commercial bank that focuses on serving the lower social economic classes in Tanzania, along with their small-to-medium enterprises (SMEs). As of December 2018, the bank's total asset valuation was approximately TSh 178.82 billion (US$76.94 million), with shareholder's equity of approximately TSh 23.3 billion (US$10.02 million). The bank made a profit of TSh 806 million (US$346,835), in calendar year 2013. [3]

History

The bank obtained a commercial banking licence from the Bank of Tanzania, the national banking regulator, in July 2009, and opened for business in August 2009.

Ownership

Mkombozi Commercial Bank is owned by Tanzanian Catholic dioceses, parishes, and individuals of all religious persuasions. In order to raise the TSh 7.8 billion (US$5 million) initial share capital, shares were sold to individuals and businesses, in batches of 100 shares at US$0.75 per share. [4] In November 2014, the bank floated its shares of the Dar es Salaam Stock Exchange (DSE), with three main objectives: (a) to raise paid-up capital, above the new statutory minimum of TSh15 billion (US$9 million), before 1 March 2015 (b) to raise funds for expanded lending and (c) to source funding for opening more branches. [5] [6]

Branch Network

As of December 2019, Mkombozi Commercial Bank maintains branches at the following locations: [7]

  1. Main Branch - St Joseph's Catholic Church, 40 Mansfield Street, Dar es Salaam
  2. Mwanza Branch - Mwanza
  3. Msimbazi Branch - Msimbazi, Ilala District, Dar es Salaam
  4. Kariakoo Branch - Kariakoo, Dar es Salaam.
  5. Moshi Branch - Moshi Town, Kilimanjaro
  6. Bukoba Branch - Bukoba Town, Kagera
  7. Morogoro Branch - Morogoro Town, Morogoro
  8. Tegeta Branch - Tegeta, Dar es Salaam
  9. Dodoma Branch - Dodoma City, Dodoma
  10. Iringa Branch - Iringa Town, Iringa
  11. Njombe Branch - Njombe Town, Njombe.

Governance

The Board of Directors of the bank comprises eight individuals. The Chairman is one of the seven non-Executive Directors. The current Chairperson is Gasper C. Njuu. The current Managing Director is Respige Kimati. [8]

See also

Related Research Articles

Transport in Tanzania includes road, rail, air and maritime networks. The road network is 86,472 kilometres (53,731 mi) long, of which 12,786 kilometres (7,945 mi) is classified as trunk road and 21,105 kilometres (13,114 mi) as regional road. The rail network consists of 3,682 kilometres (2,288 mi) of track. Commuter rail service is in Dar es Salaam only. There are 28 airports, with Julius Nyerere International being the largest and the busiest. Ferries connect Mainland Tanzania with the islands of Zanzibar. Several other ferries are active on the countries' rivers and lakes.

<span class="mw-page-title-main">Catholic Church in Tanzania</span>

The Catholic Church in Tanzania is part of the worldwide Catholic Church, under the spiritual leadership of the Pope in Rome.

<span class="mw-page-title-main">Outline of Tanzania</span> Overview of and topical guide to Tanzania

The following outline is provided as an overview of and topical guide to Tanzania:

<span class="mw-page-title-main">Subdivisions of Tanzania</span> Type of administrative territorial entity of a single country

The administrative divisions of Tanzania are controlled by Part I, Article 2.2 of the Constitution of Tanzania. Tanzania is divided into thirty-one regions. Each region is subdivided into districts. The districts are sub-divided into divisions and further into local wards. Wards are further subdivided for management purposes: for urban wards into streets and for rural wards into villages. The villages may be further subdivided into hamlets.

Azania Bank Limited, whose formal name is First Adili Bancorp Limited, and is commonly referred to as Azania Bank, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania (BOT), the central bank and national banking regulator.

<span class="mw-page-title-main">I&M Bank Tanzania Limited</span> Commercial bank in Tanzania

I&M Bank Tanzania Limited is a commercial bank in Tanzania headquartered in Dar es Salaam and a subsidiary of Kenyan based I&M Bank Group. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.

Exim Bank (Tanzania) (EBT), is a commercial bank in Tanzania, the second-largest economy in the East African Community. The bank is licensed by the Bank of Tanzania, which is the country's central bank and national banking regulator.

Dar es Salaam Community Bank (DCB), whose official name is DCB Commercial Bank, but is commonly called DCB Bank, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.

Commercial Bank of Africa (Tanzania)(CBAT) is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the country's central bank and national banking regulator. The bank is a subsidiary of the Commercial Bank of Africa Group and has its headquarters in Nairobi, Kenya.

<span class="mw-page-title-main">People's Bank of Zanzibar</span> Commercial bank in Tanzania

The People's Bank of Zanzibar (PBZ) is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.

<span class="mw-page-title-main">NCBA Bank Tanzania</span> Tanzanian commercial bank

NCBA Bank Tanzania Limited, is a merged bank between Commercial Bank of Africa (Tanzania) and NIC Bank Tanzania. It is a commercial bank in Tanzania licensed by the Bank of Tanzania, the central bank and national banking regulator.

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.

<span class="mw-page-title-main">Absa Bank Tanzania</span>

Absa Bank Tanzania Limited (ABT), formerly Barclays Bank Tanzania Limited, is a commercial bank in Tanzania and a subsidiary of South Africa-based Absa Group Limited. ABT is licensed by the Bank of Tanzania, the country's central bank and national banking regulator.

Tanzania Women Bank Limited (TWBL) is a Tanzanian bank that specialises in providing financial services to women. It is listed as a "Registered Financial Institution" by the Bank of Tanzania, the central bank and national banking regulator.

The Tanzanian Championship is the second tier of league football in Tanzania. The league is made up of sixteen teams that play thirty rounds, home and away.The league was formed in 1930.

The First League Tanzania is the third tier of league football in Tanzania. The league is divided into two groups, with each group having eight teams. A round-robin format is played and followed by a play-off tournament for promotion and relegation.

The Bank of Baroda Tanzania Limited (BBTL), also known as the Bank of Baroda Tanzania, is a commercial bank in Tanzania. It is one of the commercial banks licensed by the Bank of Tanzania, the national banking regulator.

References

  1. ↑ "Directory of Commercial Banks Operating In Tanzania". Bank of Tanzania . Retrieved 14 November 2014.
  2. ↑ "mkombozi - Swahili-English Dictionary". www.swahili.it. Retrieved 2019-02-13.
  3. ↑ "Mkombozi Commercial Bank IPO". Dar es Salaam Stock Exchange. 19 October 2020. Retrieved 19 October 2020.
  4. ↑ Mbonea, Israel (31 August 2009). "Tanzania: Dar Catholics Launch Bank". East African Business Week (Kampala). Retrieved 15 November 2014.
  5. ↑ "Tanzania's Mkombozi Commercial Bank Announces Initial Public Offering And Listing At Dar Es Salaam Stock Exchange". TanzaniaInvest.Com. 11 November 2014. Archived from the original on 19 December 2014. Retrieved 15 November 2014.
  6. ↑ "Mkombozi Bank Formally Goes Public, Offers 5 Million Shares". Tanzania Daily News . Dar es Salaam. 3 November 2014. Archived from the original on 29 November 2014. Retrieved 14 November 2014.
  7. ↑ "The Branches of Mkombozi Commercial Bank". Mkombozi Commercial Bank. Retrieved 19 October 2020.
  8. ↑ "The Board of Directors of Mkombozi Commercial Bank". Mkombozi Commercial Bank. Retrieved 13 October 2020.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.