Azania Bank


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 licensed by the Bank of Tanzania, the central bank and national banking regulator.

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 were valued at about US$147 million. In March 2018, the shareholders' equity in the bank was valued at TSh57,880,000,000.
Following the acquisition of the assets and liabilities of Bank M, in January 2019, the total assets of Azania Bank were valued at approximately US$582 million. At that time the bank's shareholders equity was valued at US$71.46 million.

History

The bank was established in 1995, as First Adili Bancorp, by Tanzanian citizens, together with 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, the main shareholders are Tanzanian pension funds and Tanzanian nations.
In January 2019, Azania Bank acquired the assets and liabilities of Bank M, a retail commercial bank, which had been under management by Bank of Tanzania since August 2018, on account of "critical liquidity problems" and inability "to meet its obligations".

Ownership

, Azania Bank's stock was owned by the following corporate entities and individuals:
RankName of ownerPercentage ownership
1National Social Security Fund - Tanzania 34.8
2Parastatal Pension Fund 30.1
3Public Service Pension Fund 17.2
4Local Authorities Pension Fund 14.2
5East African Development Bank 2.3
6Minority Shareholders, Including Azania Bank Staff1.4
Total100.0

Branch network

Azania Bank has its headquarters in Dar-es-Salaam. As of April 2018, the bank maintained a network of branches at the following locations:
  1. Masdo Branch - Samora Avenue, Dar es Salaam
  2. Kariakoo Branch - Msimbazi Street, Dar es Salaam
  3. Tegeta Branch - Chief House, Tegeta, Dar es Salaam
  4. Mwenge Branch - Mwenge, Dar es Salaam
  5. Mwanza-Mwaloni Branch - Mwaloni Fish Market, Mwanza
  6. Mwanza-Nkrumah Branch - Nkrumah Street, Mwanza
  7. Kahama Branch - Kahama Central Business District, Kahama, Shinyanga District
  8. Arusha City Branch - Wapare Street, Arusha
  9. Mbauda Branch - Mbauda Corner, Arusha-Dodoma Road, Arusha
  10. Moshi Branch - Market Street, Moshi
  11. Mawasiliano Branch - Mawasiliano Towers, Sam Nujoma Road, Dar es Salaam Main Branch
  12. Geita Branch - Geita
  13. Katoro Branch - Geita
  14. Lamadi Branch - Lamadi, Simiyu Region
  15. Kagongwa Branch - Kahama
  16. TCRA Branch – Dar Es Salaam.

    Governance

Azania Bank is governed by an eight-person Board of Directors of whom one is an Executive Director and seven are non-Executive. The Chairman of the Board is Godius Kahyarara, one of the non-Executive Directors. The Managing Director of Azania Bank is Charles Jackson Itembe.