Azania Bank
Encyclopedia
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 one of the thirty (30) licensed commercial banks in the country.
n citizens, together with a number of 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, many of those original investors still own a stake in the bank, now over fifteen (15) years later.
is owned by the following corporate entities and individuals:
{| style="font-size:95%;"
|-
| width="80%" align="center" | Azania Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||National Social Security Fund (Tanzania) (NSSF)|| 40.00
|-
|2||Parastatal Pension Fund (PPF)|| 35.00
|-
|3||Public Service Pension Fund (PSPF)||14.00
|-
|4||East African Development Bank
(EADB)||07.00
|-
|6||Azania Bank Staff & Other Tanzanian Individuals||04.00
|-
| ||Total||100.0
|-
|}
The Managing Director of Azania Bank is Charles G. Singili. He is assisted by seven (7) other managers in supervising the normal operations of the bank.
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
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. , the bank's total assets exceed US$113 million, with shareholders' equity in excess of US$12 million.History
The bank was established in 1995, as First Adili Bancorp, by TanzaniaTanzania
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...
n citizens, together with a number of national pension funds and International financial institutions, including the East African Development Bank
East African Development Bank
East African Development Bank is a development finance institution with the objective of promoting development in East Africa.-Overview:...
, the Swedish International Development Agency and an American merchant bank, Gerald Metals Inc.. Today, many of those original investors still own a stake in the bank, now over fifteen (15) years later.
Ownership
, Azania Bank's stockStock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
is owned by the following corporate entities and individuals:
{| style="font-size:95%;"
|-
| width="80%" align="center" | Azania Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||National Social Security Fund (Tanzania) (NSSF)|| 40.00
|-
|2||Parastatal Pension Fund (PPF)|| 35.00
|-
|3||Public Service Pension Fund (PSPF)||14.00
|-
|4||East African Development Bank
East African Development Bank
East African Development Bank is a development finance institution with the objective of promoting development in East Africa.-Overview:...
(EADB)||07.00
|-
|6||Azania Bank Staff & Other Tanzanian Individuals||04.00
|-
| ||Total||100.0
|-
|}
Branch Network
Azania Bank has its headquarters in Dar-es-Salaam. As of February 2010, bank maintains a network of seven (7) branches. The bank publicly announced in February 2010 that it will open four (4) more branches in 2010, bringing the total number to eleven (11). The following is a list of branches of the bank:- Headquarters Branch - Samora Machel Avenue, Dar-es-Salaam Main Branch
- Kariakoo Branch - Msimbazi Road, Dar-es-Salaam
- Tegeta Branch - Tegeta, Dar-es-Salaam
- Mwaloni Branch - MwanzaMwanzaMwanza is a mid-sized port city on the southern shores of Lake Victoria in northwestern Tanzania. With an urban population of 1.2 million and a metropolitan population of 2 million, it is Tanzania's second largest city, following Dar es Salaam and ahead of other major Tanzanian cities of Arusha,...
- Nkrumah Branch - MwanzaMwanzaMwanza is a mid-sized port city on the southern shores of Lake Victoria in northwestern Tanzania. With an urban population of 1.2 million and a metropolitan population of 2 million, it is Tanzania's second largest city, following Dar es Salaam and ahead of other major Tanzanian cities of Arusha,...
- Kahama Branch - KahamaKahamaThe Kahama district is one of the eight districts of the Shinyanga Region of Tanzania. It is bordered to the west by the Bukombe District, to the south by the Tabora Region, to the north by the Mwanza Region, and to the east by the Shinyanga Rural and Shinyanga Urban Districts.According to the...
- Arusha Branch - Mbauda Corner, Arusha-Dodoma Road, ArushaArushaArusha is a city in northern Tanzania. It is the capital of the Arusha Region, which claims a population of 1,288,088, including 281,608 for the Arusha District . Arusha is surrounded by some of Africa's most famous landscapes and national parks...
- Tunduma Branch - TundumaTundumaTunduma is a Tanzanian border town in Mbeya Region with border posts for both the Tanzam Highway and the TAZARA railway linking the two countries. It is...
(Opens in 2011) - Geita Branch - GeitaGeitaGeita is a town in Tanzania of approximately 40,000 people, located 90 kilometers west of Mwanza. Geita first came into prominence as the site of a German colonial gold mine. A German gold prospector discovered the mineral in the early 1900s in the hills surrounding modern-day Geita town...
(Opens in 2011) - Dodoma Branch - DodomaDodomaDodoma , officially Dodoma Urban District, population 324,347 , is the national capital of Tanzania, and the capital of the Dodoma region. In 1973, plans were made to move the capital to Dodoma...
(Opens in 2011) - Tangi Bovu Branch - Dar-es-Salaam (Opens in 2011)
Directors
Azania Bank is governed by an eight (8) person Board of Directors of whom one (1) is an Executive Director and seven (7) are non-Executive. The Chairman of the Board is William E. Erio, one of the non-Executive Directors.Management Board
The Managing Director of Azania Bank is Charles G. Singili. He is assisted by seven (7) other managers in supervising the normal operations of the bank.