Bank of Africa Tanzania Limited – History, Ownership, Network & More

Commercial Bank of Africa Tanzania Limited – History, Ownership, Network and More

Bank of Africa Tanzania Limited (BOAT) is a Tanzanian commercial bank that obtained its license from the Bank of Tanzania, the banking regulator and central bank of the country.

Bank of Africa Tanzania swift code – EUAFTZTZ XXX

Location

Bank of Africa Tanzania Limited‘s main branch and headquarters are located in Dar es Salaam’s CBD, the largest city and business capital of Tanzania, at the National Development Corporation House, at the junction of Kivukoni Road, Ohio Street. Its geographical coordinates are 39°17’31.0″E, 6°49’03.0″S. (Longitude: 39.291944, Latitude: 6.817500).

Overview

Bank of Africa Tanzania Limited is a commercial bank that provides retail to international corporations, small retailers, and mid-sized local businesses. BOAT was a mid-sized financial services firm as of 2019 December, with total assets worth Tsh:564 billion (about USD 245.4 million) and client deposits of TSH:390 billion (around USD 169.7 million).

Bank of Africa Group

Bank of Africa Tanzania Limited is part of the Bank of Africa Group, a Pan-African, multinational bank based in Bamako in Mali, with operations in eighteen countries and a network of sixteen commercial banks, 1 financial corporation, 1 Banque de l’habitat, 1 brokerage firm, 2 investment companies, 1 asset management company, and 1 representative office located in Paris. The total assets of the group were estimated at 7.62 billion euros (USD 8.24 billion) in December 2018.

History of the United Bank of Africa Tanzania

Bank of Africa Tanzania Limited began operations in 2007 June after the Bank of Africa Group purchased Tanzania’s Euroafrican Bank, which had been in existence since 1995.

Governance

A board of directors, headed by Ambassador Maajar Mwanaidi, a non-executive member of the board, oversees Bank of Africa Tanzania Limited. Joseph Iha Wanje is the bank’s chief executive officer and managing director.

Bank of Africa Tanzania Branches Network

Bank of Africa Tanzania Limited has twenty-seven networked branches by December 2019, including thirteen in Dar es Salaam, thirteen in other Tanzanian towns and cities, and a single branch in Dar es Salaam’s Business Centre.

Other Important Things to Know About the Bank of Africa Tanzania

For more articles related to Financial Services in Tanzania, click here!


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