Tanzania Investment Bank
Encyclopedia
Tanzania Investment Bank (TIB) is a government-owned development bank
in Tanzania
. The bank is the first development finance institution established by the Government of Tanzania. The activities of TIB are supervised by the Bank of Tanzania
, the national banking regulator. TIB is registered as a Registered Financial Institution.
of neighboring Uganda
and foreign currency exchange fluctuations within the Tanzania
n economy, the bank became unable to service its financial obligations. To mitigate financial losses, TIB resorted to making short-term loans and to function like a commercial bank. The period between 1980 until 2003 was particularly hard on the bank.
Over time, the Tanzanian government, the sole shareholder in TIB, has re-capitalized the bank, re-vamped its strategic development plans and re-structured its management. , TIB has a total asset base in excess of US$62 million (TZS:93 billion). The government intends to raise that figure to US$265 million (TZS:400billion), in the next few years. The bank has a significant portion of its portfolio in the Tanzanian agricultural sector.
Development bank
The phrase development bank may refer to:* Community development banks fund low-income areas in the United States* Multilateral Development Bank provide financing for international development...
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...
. The bank is the first development finance institution established by the Government of Tanzania. The activities of TIB are supervised 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....
, the national banking regulator. TIB is registered as a Registered Financial Institution.
History
The bank was established by Act of Parliament in 1970. At that time, the main objective of TIB was to provide "medium and long-term loans to investors in commercial agriculture, manufacturing, processing, construction, transport, tourism and mining sectors". However due to economic hardships, including a war with Idi AminIdi Amin
Idi Amin Dada was a military leader and President of Uganda from 1971 to 1979. Amin joined the British colonial regiment, the King's African Rifles in 1946. Eventually he held the rank of Major General in the post-colonial Ugandan Army and became its Commander before seizing power in the military...
of neighboring Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
and foreign currency exchange fluctuations within the 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...
n economy, the bank became unable to service its financial obligations. To mitigate financial losses, TIB resorted to making short-term loans and to function like a commercial bank. The period between 1980 until 2003 was particularly hard on the bank.
Over time, the Tanzanian government, the sole shareholder in TIB, has re-capitalized the bank, re-vamped its strategic development plans and re-structured its management. , TIB has a total asset base in excess of US$62 million (TZS:93 billion). The government intends to raise that figure to US$265 million (TZS:400billion), in the next few years. The bank has a significant portion of its portfolio in the Tanzanian agricultural sector.
Branches
The bank maintains branches at the following locations:- Dar es Salaam Branch - 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: ...
- Mwanza 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,...
- Arusha Branch - 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...
- 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...
, - Mbeya Branch - MbeyaMbeyaMbeya is a city located in southwest Tanzania, Africa. Mbeya's urban population was 280,000 in 2005. Mbeya is the capital of the surrounding rural Mbeya region ....
- Zanzibar Branch - ZanzibarZanzibarZanzibar ,Persian: زنگبار, from suffix bār: "coast" and Zangi: "bruin" ; is a semi-autonomous part of Tanzania, in East Africa. It comprises the Zanzibar Archipelago in the Indian Ocean, off the coast of the mainland, and consists of numerous small islands and two large ones: Unguja , and Pemba...