Azania Bank Tanzania - History, Ownership, Network and More

Azania Bank Tanzania – History, Ownership, Network and More

Azania Bank Limited, formally known as First Adili Bancorp Limited and referred to simply as Azania Bank, is a Tanzanian commercial bank. The Bank of Tanzania (BOT), Tanzania’s national banking regulator and central bank, granted Azania Bank a license.

Azania bank swift code – AZANTZTZXXX

Overview of the Azania Bank Limited

Azania bank is a single-tier commercial bank that offers corporate and retail banking, foreign currency transactions, lease finance, export/import financing, and issuing letters of credit. Following the purchase of Bank M’s liabilities and assets in 2019 January, Azania Bank’s total assets were evaluated at around USD 582 million (Tsh:1,339 billion). The stockholder’s equity of the bank was estimated at USD 71.46 million at the time (Tsh:164 billion). The total assets of the bank were evaluated at Tsh:1,148,710,000,000 (USD 496,575,000) in December 2019, with Tsh:241,351,000,000 (USD 104,333,000) in shareholders’ equity.

History

Azania Bank was founded in 1995 under the name First Adili Bancorp, by residents of Tanzania, along with Funds for national pension and international financial entities such as the Swedish International Development Agency and the East African Development Bank, and a merchant bank from America, Gerald Metals Inc. Tanzania’s pension funds and citizens are the majority shareholders now.

Azania Bank purchased the liabilities and assets of Bank M, a commercial bank that had been managed by the Bank of Tanzania since 2018 August due to “severe liquidity concerns” and an inability to “live up to its commitments.”

Ownership

Azania Bank‘s equity was held by the following business organizations and individuals as of 2021 December:

Ownership Percentage Owner
0.39 Minor sharehollders such as Staff of Azania Bank
0.50 (EADB) East African Development Bank
1.78 (WCF) Workers Compensation Fund
17.97 (NHIF) National Health Insuarance Fund
51.32 (PSSSF) Public Service Social Security Fund
28.04 (NSSF) National Social Security Fund
100.00 Total

Network of Azania Bank Branches in Tanzania (Azania Bank Address List)

Dar-es-Salaam is the headquarters of Azania Bank. The bank had a network of branches in the following places by December 2021:

Branch City Address
Masdo Branch Dar es Salaam Samora Avenue
Mbeya City Branch Mbeya Karume Avenue Road
Tunduma Branch Tunduma Sumbawanga Road
Sokoine Branch Dodoma Kikuyu Avenue
Morogoro Branch Morogoro Old Dar es Salaam Road Street
Nyarugusu Service Centre Geita  
Geita Mineral Centre Geita Kalangalala Street
Katoro Branch Geita  
Moshi Branch Moshi Opposite Moshi Municipal Offices
Azania Bank Arusha Business Centre Arusha Joel Maeda Street
Mbauda Branch Arusha Mbauda Corner, Arusha-Dodoma Branch
Arusha City Branch Arusha WaKaloleni Street
Kagongwa Agency Shinyanga Iponya Street, Kahama
Kahama Branch Shinyanga District Kahama CBD
Lamadi Agency Simiyu Lamadi
Rwagasore Agency Mwanza Rwagasore street
Rockcity Branch Mwanza Makongoro Street
Mwaloni Branch Mwanza Mwaloni Fish Market
Lumumba Branch Dar es Salaam Lumumba Street
Industrial Branch Dar es Salaam Nyerere Road
Mawasiliano Agency Dar es Salaam Sam Nujoma Road
Mwenge Branch Dar es Salaam Mwenge Market
Tegeta Branch Dar es Salaam Chief House, Tegeta
Kisutu Branch Dar es Salaam Kisutu
Azania Bank Head Office – Kariakoo Branch Dar es Salaam Msimbazi Street

Governance

Azania Bank is controlled by an eleven-member Board of Directors, with one Executive Director and 10 Non-Executive Directors. Engineer Julius Ndyamukama, a non-Executive Director, serves as the Board’s chairman. Ms. Esther Mangénya is Azania Bank’s Managing Director.

Other Important Things to Know About Azania Bank

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