Advans Bank Tanzania
Encyclopedia
Advans Bank Tanzania Limited, commonly known as Advans Bank Tanzania is a commercial bank
in Tanzania
. It is one of the thirty (30) licensed commercial banks in the country.
.
, the capital city of Tanzania, following the issuance of a banking license by the Bank of Tanzania
, thre banking regulator in the country. Opening with a staff of eighteen (18), the bank plans to increase its staff numbers to sixty-nine (69), by the end of 2011 and to open a second branch at another location in Dar es Salaam by 2012.
firm registered in Luxembourg
, which aims to establish microfinance
financial institutions in emerging economies. Founded in 2005, Advans SA owns microfinance institutions in the Democratic Republic of the Congo
, Cameroon
, Ghana
, Cambodia
, Cote d'Ivoire
and Tanzania
. , Advans SA has invested in excess of US$76 million (EUR:55 million), in the countries where they operate.
, Dar es Salaam
. A new branch is planned at another location in Dar es Salaam by the end of 2011.
(CEO) of Advans Bank Tanzania, is Brigette Laydeker.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
. It is one of the thirty (30) licensed commercial banks in the country.
Overview
The bank is a small financial services provider that focuses on serving very small, small and medium-sized enterprises and the individuals who own them in Tanzania. It operates as a Microfinance BankMicrofinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
.
History
Advans Bank Tanzania was established in 2011. It opened in first branch in Dar es SalaamDar es Salaam
Dar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...
, the capital city of Tanzania, following the issuance of a banking license by the Bank of Tanzania
Bank of Tanzania
The Bank of Tanzania is the central bank of the United Republic of Tanzania. It is responsible for issuing the national currency, the Tanzanian shilling....
, thre banking regulator in the country. Opening with a staff of eighteen (18), the bank plans to increase its staff numbers to sixty-nine (69), by the end of 2011 and to open a second branch at another location in Dar es Salaam by 2012.
Ownership
Advans Bank Tanzania is a 100% subsidiary of Advans SA, a venture capitalVenture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
firm registered in Luxembourg
Luxembourg
Luxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
, which aims to establish microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
financial institutions in emerging economies. Founded in 2005, Advans SA owns microfinance institutions in the Democratic Republic of the Congo
Democratic Republic of the Congo
The Democratic Republic of the Congo is a state located in Central Africa. It is the second largest country in Africa by area and the eleventh largest in the world...
, Cameroon
Cameroon
Cameroon, officially the Republic of Cameroon , is a country in west Central Africa. It is bordered by Nigeria to the west; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon, and the Republic of the Congo to the south. Cameroon's coastline lies on the...
, Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
, Cambodia
Cambodia
Cambodia , officially known as the Kingdom of Cambodia, is a country located in the southern portion of the Indochina Peninsula in Southeast Asia...
, Cote d'Ivoire
Côte d'Ivoire
The Republic of Côte d'Ivoire or Ivory Coast is a country in West Africa. It has an area of , and borders the countries Liberia, Guinea, Mali, Burkina Faso and Ghana; its southern boundary is along the Gulf of Guinea. The country's population was 15,366,672 in 1998 and was estimated to be...
and Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
. , Advans SA has invested in excess of US$76 million (EUR:55 million), in the countries where they operate.
Branch Network
, Advans Bank Tanzania maintains headquarters at ManzeseManzese
Manzese is an administrative ward in the Kinondoni district of the Dar es Salaam Region of Tanzania. According to the 2002 census, the ward has a total population of 66,866....
, Dar es Salaam
Dar es Salaam
Dar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...
. A new branch is planned at another location in Dar es Salaam by the end of 2011.
- Main Branch - ManzeseManzeseManzese is an administrative ward in the Kinondoni district of the Dar es Salaam Region of Tanzania. According to the 2002 census, the ward has a total population of 66,866....
, Dar es SalaamDar es SalaamDar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...
.
Governance
The Managing Director and Chief Executive OfficerChief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
(CEO) of Advans Bank Tanzania, is Brigette Laydeker.
External links
See also
- List of banks in Tanzania
- List of banks in Africa
- Bank of TanzaniaBank of TanzaniaThe Bank of Tanzania is the central bank of the United Republic of Tanzania. It is responsible for issuing the national currency, the Tanzanian shilling....
- Economy of TanzaniaEconomy of Tanzania- History :Significant measures have been taken to liberalize the Tanzanian economy along market lines and encourage both foreign and domestic private investment. Beginning in 1986, the Government of Tanzania embarked on an adjustment program to dismantle socialist economic controls and encourage...