Selcom Microfinance Bank Tanzania Explained

Selcom Microfinance Bank Tanzania Limited
Type:Private company
Location:Dar es Salaam, Tanzania
Key People:Thomas Engelhardt
Chairman
Julius Ruwaichi
Chief Executive Officer[1]
Num Employees:634 (2018)[2] 776 (2017)[3]
Assets:TSh 207.2 billion (US$91 million) (June 2017)
Revenue:Aftrtax:TSh 687 million (US$302,000) (June 2017)
Industry:Financial services
Products:Loans, checking, savings, investments, debit cards
Owner:Selcom Tanzania (66.11%); IFC (13.06%); MicroVest (9.04%); KfW (6.73%); AfDB (5.06%);

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.[4] [5]

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.[6] .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., 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).[7] [8]

Shareholding

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

AccessBank Tanzania Stock Ownership! Rank !!Name of Owner!!Percentage Ownership
1 AccessHolding
2
3 MicroVest
4
5
Total

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! Rank !!Name of Owner!!Percentage Ownership
1 Selcom Tanzania Limited
2 African Development Bank[12]
3 Minority shareholders
Total

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

External links

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Notes and References

  1. Web site: 18 July 2018 . Abduel . Elinaza . Dar es Salaam . Tanzania: Accessbank Upbeat About Future Despite Challenges . 12 April 2014 . Tanzania Daily News via AllAfrica.com.
  2. Web site: 1 August 2018 . Tanzania banks cut jobs in face of new realities . 5 August 2018 . . Halili Letea . and Gladys Mbwiga . Dar es Salaam.
  3. Web site: 18 July 2018 . Accessbank Tanzania Records US$100 Million Assets . 6 January 2014 . Salum Mteleke . . Dar es Salaam.
  4. Web site: . Bank of Tanzania . Directory of Banks Operating in Tanzania . 6 May 2018 . 13 April 2016 . 1 June 2016 . https://web.archive.org/web/20160601015918/https://www.bot-tz.org/BankingSupervision/registeredBanks.asp . dead .
  5. Web site: 13 April 2016 . TBUK . About Triodos: Access Microfinance Bank Tanzania . 13 April 2016 . Triodos Bank United Kingdom (TBUK).
  6. Web site: Access Microfinance Holding AG (AccessHolding) . Microcapital.org (MCO) . MCO . 13 April 2016 . 13 April 2016.
  7. Web site: Triodos Bank. 7 May 2018. Access Microfinance Bank Tanzania: Microfinance Bank. live. Triodos Bank. 7 May 2018. https://web.archive.org/web/20140417211520/http://www.triodos.com/en/about-triodos-bank/know-where-your-money-goes/results/?projectId=1066345 . 2014-04-17.
  8. Web site: AccessBank Tanzania . 25 July 2017 . Financial Statements for the Quarter Ended 30 June 2017 . PDF . 6 May 2017 . AccessBank Tanzania . Dar es Salaam . https://web.archive.org/web/20180507153300/https://www.accessbank.co.tz/uploads/reports/4bc15-abt-unaudited-financial-statement-q2-2017_english.pdf . 7 May 2018 . dead .
  9. Web site: AccessBank Tanzania: Shareholders . AccessBank Tanzania (ABT). ABT . 13 April 2016. Dar es Salaam. 13 April 2016. https://web.archive.org/web/20160322094442/http://accessbank.co.tz/index.php/home/index/aboutus/shareholders. 22 March 2016. dead.
  10. Web site: Selcom Microfinance Bank Tanzania eyes growth of capital after rebranding . . 5 June 2024 . Gadiosa Lamtey . 7 June 2024 . Dar es Salaam, Tanzania.
  11. Web site: Selcom Tanzania Acquires Access Microfinance . CIO Africa . 6 June 2024 . Steve Mbego . 7 June 2024 . Nairobi, Kenya.
  12. Web site: Local Fintech Selcom Buys Access Microfinance Bank Tanzania: IFC, KFW, Others Divest After 15 Years . Launch Base Africa . 4 June 2024 . 7 June 2024 . Lagos, Nigeria.
  13. Web site: AccessBank Tanzania advance loans to clients value at TSh 200 Billion . 13 April 2016. Mihambi. 22 March 2013. Jovin . Tanzania Business Times.
  14. Web site: AccessBank Tanzania: Branches. 13 April 2016. AccessBank Tanzania (ABT). ABT. 13 April 2016. Dar es Salaam. https://web.archive.org/web/20160322094222/http://accessbank.co.tz/index.php/home/index/deliveryChannels/branches. 22 March 2016. dead.

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