Akiba Commercial Bank


Akiba Commercial Bank is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.

Location

The headquarters of Akiba Commercial Bank are located at Amani Place, along Ohio Street, in the central business district of the city of Dar es Salaam, the financial capital and largest city in Tanzania. The geographical coordinates of the bank's headquarters are: 06°48'42.0"S, 39°17'16.0"E.

Overview

The bank is a retail commercial bank that focuses on serving the poorest of poor Tanzanians and their enterprises. It operates as a microfinance bank., its total asset base was valued at TSh:211.2 billion, with shareholders' equity of TSh:32.96 billion. In 2013, Akiba Commercial Bank was ranked "the best customer-focused bank in Tanzania" based on convenience, customer care and pricing.

History

Akiba Commercial Bank was established in 1997 by Tanzanian business people with the objective of serving the banking needs of the poorest of Tanzanians, who were hitherto unbanked and not served by the large commercial banks. It opened its doors that year, after receiving a commercial banking license from the Bank of Tanzania. The majority of Akiba's shares are owned by individual Tanzanians. Akiba maintains a management agreement with Accion, primarily covering the areas of product design, marketing and training.

Ownership

The stock of Akiba Commercial Bank is privately owned by individuals and corporate entities including the following, as of 31 December 2016.

Branch Network

, Akiba Commercial Bank operated a network of branches, in Dar es Salaam, Arusha, Dodoma, Mwanza and other urban centers in the country.
  1. Main Branch: Amani Place, Ohio street, Dar Es Salaam
  2. Ubungo Plaza Branch: Ubungo–Morogoro Road, Dar Es Salaam
  3. Tandale Branch: Tandale CCM, Dar Es Salaam
  4. Kariakoo Branch: Corner of Uhuru Street & Likoma Street, Dar Es Salaam
  5. Buguruni Branch: Opposite Buguruni Police Station, Buguruni, Dar Es Salaam
  6. Kinondoni Branch: Mwinjuma Road, Kinondoni, Dar Es Salaam
  7. Tegeta Branch: Tegeta Kibaoni, Bagamoyo Road, Dar Es Salaam
  8. Temeke Branch: Tandika Mwisho, Temeke, Dar Es Salaam
  9. Kijitonyama Branch: Letsya Towers, Opposite Oilcom Petrol Station, Kijitonyama, Dar Es Salaam
  10. Mbagala Branch: Mbagala Rangi Tatu, Dar Es Salaam
  11. Ukonga Branch: Banana Petrol Station, Dar Es Salaam
  12. Aggrey Branch: Aggrey Street, Dar Es Salaam
  13. IIala Branch: Lindi Street, IIala, Dar Es Salaam
  14. Dodoma Branch:12th Road, Opposite Independence Square, Dodoma
  15. Moshi Branch: Market Street, Moshi
  16. Arusha Branch: Summit Centre, Uhuru Road, Arusha
  17. Mwanza Branch: Nyerere Road, Mwanza
  18. Mbeya Branch: Mwanjelwa Road, Near Mwanjelwa Market, Mbeya.

    Governance

The Board of Directors of the bank comprises eight individuals. The Chairman is one of the seven non-Executive Directors. The Managing Director and Chief Executive Officer, is answerable to the Board.