FNB Chief Executive Officer, Dave Aitken (centre) addresses reporters during the official opening of the bank's Kariakoo in Dar es Salaam earlier this week. Left is the bank's Head of Risk and Compliance, Silvest Arumasi and extreme right is the bank's Head of Finance, Luke Woodford.
First National Bank Tanzania Limited, a pan African bank, has demonstrated its commitment to provide working capital and term finance to the growing small and medium size enterprises by opening a new branch at Kariakoo.
“We are excited to open our Kariakoo branch and provide efficient and cost effective banking solutions to our SME customers. FNB boasts a long tradition of providing banking solutions to SME businesses in Sub Saharan Africa enabling them to raise capital and fund trade obligations. Now FNB will commence with providing these solutions here in Dar es Salaam,” Dave Aitken, CEO First National Bank said during the official opening.
“FNB is committed to support SME businesses with their financial requirements and believe that our solutions will enable customers to grow and expand their business. Investment in the SME segment will positively contribute to the growth of the economy and assist in job creation,” he said.
Commenting on the economic outlook of Tanzania, he noted that the growth of the Tanzanian economy has grown steadily at just under 7% over the last few years with the mining, tourism, manufacturing and agricultural sectors being the main contributors.
“The Kariakoo business district is the primary hub for importers, traders and distributors who contribute significantly to this economic growth. We believe this is the appropriate time to capitalize on the extraordinary growth dynamics in the country and the opening of Kariakoo Branch is part of the Bank’s strategy to grow its Tanzanian business,” he added.
He said that the branch enables the Bank to enhance its service capabilities and demonstrates its commitment to both Kariakoo and the SME sector.
“I hope this new branch will aid the sustenance of a long and mutually beneficial partnership between FNB and SME enterprises in Tanzania,” he said.
FNB has been named as the Most Innovative Bank of the Year for 2012, in the BAI-Finacle Global Banking Innovation Awards.
This Most Innovative Bank award also recognizes a bank that demonstrates an ongoing commitment to innovation and the advancement of retail banking. Innovation is exhibited through new-to-the-world products or services and channel innovations leading to customer satisfaction and loyalty, and having significant market and business impact.
FNB Tanzania officially opened for business on 27th July, 2011 and has three other branches in Dar es Salaam including Main branch located at Posta, Quality Centre branch and Peninsula branch located at Coco beach. A further three branches are currently under construction in Dar es Salaam.
FNB is a pan African bank has been operating in sub-Saharan African countries since 1874. FNB currently operates in South Africa, Namibia, Botswana, Zambia, Mozambique, Lesotho, Swaziland and Tanzania has a declared vision of becoming Africa’s preferred financial services provider.
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