Selcom Microfinance Bank Tanzania

Last updated
Selcom Microfinance Bank Tanzania Limited
Company type Private company
Industry Financial services
FoundedNovember 21, 2007;16 years ago (2007-11-21)
Headquarters Dar es Salaam, Tanzania
Key people
Thomas Engelhardt
Chairman
Julius Ruwaichi
Chief Executive Officer [1]
ProductsLoans, checking, savings, investments, debit cards
RevenueIncrease2.svgAftrtax:TSh 687 million (US$302,000) (June 2017) [2]
Total assets TSh 207.2 billion (US$91 million) (June 2017) [2]
OwnerSelcom Tanzania (66.11%); IFC (13.06%); MicroVest (9.04%); KfW (6.73%); AfDB (5.06%);
Number of employees
634 (2018) [3] 776 (2017) [4]
Website www.smfb.co.tz

Selcom Microfinance Bank Tanzania (SMBT), previously known as Access Microfinance Bank Tanzania (AMBT), is a microfinance bank located in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator. [5] [6]

Contents

Overview

SMFB is a Microfinance Bank that focuses on the micro-finance sector, serving micro, small and medium-sized enterprises. Access Microfinance Bank Tanzania was a member of the AccessBank Group, which is composed of microfinance institutions in Sub-Saharan Africa, Central Asia, and South America, who are majority owned by the AccessHolding conglomerate. [7] .Currently the bank is owned by Selcom Paytech Tanzania Limited and other minority shareholders who are very strong in the market.

In 2016, the bank served 225,928 savings clients, had 31,798 loan clients, 29 percent of whom were women, and 2 percent of all clients were rural based. As of 2017, the bank's total assets were valued at TSh 207.2 billion (US$91 million), with shareholders' equity of TSh 31.73 billion (US$14 million). [8] [2]

Shareholding

As of 2016 the shareholding in the stock of the bank is illustrated in the table below: [9]

AccessBank Tanzania Stock Ownership
RankName of OwnerPercentage Ownership
1 AccessHolding
66.11
2 International Finance Corporation
13.06
3MicroVest
9.04
4 KfW
6.73
5 African Development Bank
5.06
Total
100.00

1 - "MicroVest is a private, for-profit investment group dedicated to reducing global poverty by applying a commercial framework to investing".

In June 2024, Selcom Tanzania became the majority shareholder and the bank rebranded to reflect the new ownership. [10] [11]

Selcom Microfinance Bank Tanzania Stock Ownership
RankName of OwnerPercentage Ownership
1Selcom Tanzania Limited
90.00
2 African Development Bank [12]
5.06
3Minority shareholders
4.94
Total
100.00

1 - "Selcom Tanzania is a private, fintech company".

Branches

As of July 2018, ABT maintained branches at the following locations: [13] [14]

  1. Kijitonyama Branch - Derm House, New Bagamoyo Road, Kijitonyama, Dar es Salaam Main Branch
  2. Lumumba Branch - Summit Tower, Lumumba Road, Dar es Salaam
  3. Temeke Branch - Temeke Street, Dar es Salaam
  4. Mwanza (Pamba anza B)rh II - Kishimba Building, Pamba Road, Mwanza
  5. Kahama Branch - Isaka Road, Kahama
  6. Tabora Branch - NSSF Building, Jamhuri Road, Tabora
  7. Mbeya Branch - Mbeya
  8. Iringa Branch - Iringa

Governance

Thomas Engelhardt serves as the chairman of the five-person board of directors. The managing director and CEO of the bank is Julius Ruwaichi. [1]

See also

Related Research Articles

CRDB Bank Plc is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator. As of September 2022, CRDB Bank was the largest commercial bank in Tanzania.

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.

<span class="mw-page-title-main">National Bank of Commerce (Tanzania)</span>

National Bank of Commerce (Tanzania), whose full name is National Bank of Commerce (Tanzania) Limited, sometimes referred to as NBC (Tanzania), or as NBC (Tanzania) Limited, is a commercial bank in Tanzania. It is one of the commercial banks licensed by the Bank of Tanzania, the country's central bank and the national banking regulator. In August 2019, the bank was fined TSh 1 billion (US$435,000) because of the failure to establish a data center in the East African nation.

<span class="mw-page-title-main">NMB Bank Tanzania</span> Commercial bank in Tanzania

NMB Bank Plc., is a commercial bank in Tanzania. 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.

<span class="mw-page-title-main">Akiba Commercial Bank</span> Tanzania Bank based in Dar es Salaam

Akiba Commercial Bank (ACB) is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the 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">Mkombozi Commercial Bank</span> Tanzanian banking and financial service corporation

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

<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> Commercial bank in Tanzania

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.

<span class="mw-page-title-main">Yetu Microfinance</span> Tanzanian microfinance bank

Yetu Microfinance Bank Plc. (YETU) is a microfinance bank in Tanzania. It is the first microfinance institution to be listed in the Dar es Salaam Stock Exchange. Yetu is a Swahili word which means Ours.

Amana Bank is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.

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.

Mwanga Hakika Bank (MHB), whose official name is Mwanga Hakika Bank Limited, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.

The CRDB Bank Group, is a privately owned conglomerate in Tanzania. The anchor company in the group is CRDB Bank Plc., the largest commercial bank in Tanzania, based on assets. As of 31 December 2023 CRDB Bank had assets valued at TSh10.897 trillion.

References

  1. 1 2 Elinaza, Abduel (12 April 2014). "Tanzania: Accessbank Upbeat About Future Despite Challenges". Tanzania Daily News via AllAfrica.com . Dar es Salaam. Retrieved 18 July 2018.
  2. 1 2 3 AccessBank Tanzania (25 July 2017). "Financial Statements for the Quarter Ended 30 June 2017" (PDF). AccessBank Tanzania. Dar es Salaam. Archived from the original (PDF) on 7 May 2018. Retrieved 6 May 2017.
  3. ↑ Halili Letea, and Gladys Mbwiga (1 August 2018). "Tanzania banks cut jobs in face of new realities". The Citizen (Tanzania) . Dar es Salaam. Retrieved 5 August 2018.
  4. ↑ Salum Mteleke (6 January 2014). "Accessbank Tanzania Records US$100 Million Assets". Tanzania Business Times . Dar es Salaam. Retrieved 18 July 2018.
  5. ↑ Bank of Tanzania (13 April 2016). "Directory of Banks Operating in Tanzania". Bank of Tanzania. Archived from the original on 1 June 2016. Retrieved 6 May 2018.
  6. ↑ TBUK (13 April 2016). "About Triodos: Access Microfinance Bank Tanzania". Triodos Bank United Kingdom (TBUK). Retrieved 13 April 2016.
  7. ↑ MCO (13 April 2016). "Access Microfinance Holding AG (AccessHolding)". Microcapital.org (MCO). Retrieved 13 April 2016.
  8. ↑ Triodos Bank (7 May 2018). "Access Microfinance Bank Tanzania: Microfinance Bank". Triodos Bank. Archived from the original on 2014-04-17. Retrieved 7 May 2018.
  9. ↑ ABT (13 April 2016). "AccessBank Tanzania: Shareholders". Dar es Salaam: AccessBank Tanzania (ABT). Archived from the original on 22 March 2016. Retrieved 13 April 2016.
  10. ↑ Gadiosa Lamtey (5 June 2024). "Selcom Microfinance Bank Tanzania eyes growth of capital after rebranding". The Citizen (Tanzania) . Dar es Salaam, Tanzania. Retrieved 7 June 2024.
  11. ↑ Steve Mbego (6 June 2024). "Selcom Tanzania Acquires Access Microfinance". CIO Africa. Nairobi, Kenya. Retrieved 7 June 2024.
  12. ↑ "Local Fintech Selcom Buys Access Microfinance Bank Tanzania: IFC, KFW, Others Divest After 15 Years". Launch Base Africa. Lagos, Nigeria. 4 June 2024. Retrieved 7 June 2024.
  13. ↑ Mihambi, Jovin (22 March 2013). "AccessBank Tanzania advance loans to clients value at TSh 200 Billion". Tanzania Business Times . Retrieved 13 April 2016.
  14. ↑ ABT (13 April 2016). "AccessBank Tanzania: Branches". Dar es Salaam: AccessBank Tanzania (ABT). Archived from the original on 22 March 2016. Retrieved 13 April 2016.

06°46′37″S39°14′45″E / 6.77694°S 39.24583°E / -6.77694; 39.24583

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.