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From Wikipedia, the free encyclopedia

Azania Bank
IndustryFinancial Services
Founded1995; 26 years ago (1995)
HeadquartersDar-es-Salaam, Tanzania
Key people
ProductsLoans, checking, savings, investments, debit cards
RevenueIncrease:Aftertax:US$5.52 million) (TZS:12,764,000,000) (2019)[2]
Total assetsUS$496.6 million (TZS:1,149 billion) (December 2019)[2]
Number of employees
511 (2019)

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.[1]


Azania Bank is a medium-sized commercial bank that engages in retail banking, lease financing, foreign exchange transactions and import/export financing, as well the issuance of letters of credit. Following the acquisition of the assets and liabilities of Bank M, in January 2019, the total assets of Azania Bank were valued at approximately US$582 million (TZS:1,339 billion). At that time the bank's shareholders equity was valued at US$71.46 million (TZS:164 billion).[3] As of December 2019, the bank's total assets were valued at TZS:1,148,710,000,000 (US$496,575,000), with shareholders equity of TZS:241,351,000,000 (US$104,333,000).[2]


The bank was established in 1995, as First Adili Bancorp, by Tanzanian citizens, together with national pension funds and International financial institutions, including the East African Development Bank, the Swedish International Development Agency and an American merchant bank, Gerald Metals Inc.. Today, the main shareholders are Tanzanian pension funds and Tanzanian nationals.[4]

In January 2019, Azania Bank acquired the assets and liabilities of Bank M, a retail commercial bank, which had been under management by Bank of Tanzania since August 2018, on account of "critical liquidity problems" and inability "to meet its obligations".[3]


As of November 2020, Azania Bank's stock was owned by the following corporate entities and individuals:[5]

Azania Bank stock ownership
Rank Name of owner Percentage ownership
1 National Social Security Fund - Tanzania (NSSF) 27.99
2 Public Service Pension Fund (PSPF) 51.95
3 National Health Insurance Fund (NHIF) 17.42
4 Workers Compensation Fund (WCF) 1.79
5 East African Development Bank (EADB) 0.51
6 Minority Shareholders, Including Azania Bank Staff 0.34
Total 100.0

Branch network

Azania Bank has its headquarters in Dar-es-Salaam. As of April 2018, the bank maintained a network of branches at the following locations:[6][7]

  1. Masdo Branch - Samora Avenue, Dar es Salaam
  2. Kariakoo Branch - Msimbazi Street, Dar es Salaam
  3. Kisutu Brach - Kisutu, Dar es Salaam
  4. Tegeta Branch - Chief House, Tegeta, Dar es Salaam
  5. Mwenge Branch - Mwenge, Dar es Salaam
  6. Mwanza-Mwaloni Branch - Mwaloni Fish Market, Mwanza
  7. Mwanza-Nkrumah Branch - Nkrumah Street, Mwanza
  8. Kahama Branch - Kahama Central Business District, Kahama, Shinyanga District[8]
  9. Arusha City Branch - Wapare Street, Arusha
  10. Mbauda Branch - Mbauda Corner, Arusha-Dodoma Road, Arusha[9]
  11. Moshi Branch - Market Street, Moshi
  12. Mawasiliano Branch - Mawasiliano Towers, Sam Nujoma Road, Dar es Salaam Main Branch
  13. Geita Branch - Geita
  14. Katoro Branch - Geita
  15. Lamadi Branch - Lamadi, Simiyu Region
  16. Kagongwa Branch - Kahama
  17. TCRA Branch – Dar Es Salaam.


Azania Bank is governed by an eight-person Board of Directors of whom one is an Executive Director and seven are non-Executive. The Chairman of the Board is Godius Kahyarara, one of the non-Executive Directors. The Managing Director of Azania Bank is Charles Jackson Itembe.[1][10]

See also


  1. ^ a b c Lamtey, Gadiosa (18 April 2018). "Azania Bank posts Sh1.8 billion profit after tax". The Citizen (Tanzania). Dar es Salaam. Retrieved 19 April 2018.
  2. ^ a b c Azania Bank (28 January 2020). "Azania Bank Limited: Financial Condition As At 31 December 2019" (PDF). Dar es Salaam: Azania Bank Limited. Retrieved 27 November 2020.
  3. ^ a b Reuters (15 January 2019). "Bank M assets, liabilities transferred to Azania Bank". The EastAfrican Quoting Reuters. Nairobi. Retrieved 20 January 2019.
  4. ^ Azania Bank (31 December 2012). "Profile of Azania Bank Limited". Dar es Salaam: Azania Bank Limited. Archived from the original (Archived from the Original) on 8 November 2014. Retrieved 19 April 2018.
  5. ^ Azania Bank (28 November 2020). "Shareholders of Azania Bank Tanzania Limited". Dar es Salaam: Azania Bank Limited. Retrieved 28 November 2020.
  6. ^ Azazina Bank (19 April 2018). "Azania Bank Limited: Branch Network". Dar es Salaam: Azania Bank Limited. Retrieved 19 April 2018.
  7. ^ Daily News Reporter (24 May 2012). "Azania Bank Embarks on Expansion". Tanzania Daily News. Dar es Salaam. Archived from the original (Archived from the Original) on 9 November 2014. Retrieved 19 April 2018.
  8. ^ Daily News Reporter, . (24 October 2010). "Tanzania: Azania Bank Records Positive Growth". Tanzania Daily News (Dar es Salaam) via Retrieved 8 November 2014. CS1 maint: discouraged parameter (link) CS1 maint: numeric names: authors list (link)
  9. ^ Arusha Times Reporter, . (26 February 2011). "Tanzania: Azania Bank Opens New Branch in Mbauda". The Arusha Times. Retrieved 8 November 2014. CS1 maint: discouraged parameter (link) CS1 maint: numeric names: authors list (link)
  10. ^ Daily News (25 November 2020). "Azania Launches Visa Card As It Marks 25th Anniversary". Tanzania Daily News. Dar es Salaam. Retrieved 27 November 2020.

External links

This page was last edited on 13 February 2021, at 09:13
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