Azania Bank Limited, formally known as First Adili Bancorp Limited and commonly known as Azania Bank, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania (BOT), the central bank and national banking regulator.

Overview

Azania Bank is a Tier 1 commercial bank engaged in retail banking, corporate banking, lease financing, foreign exchange transactions and import/export financing, as well as the issuance of letters of credit. Following the acquisition of the assets and liabilities of M Bank in January 2019, Azania Bank's total assets are valued at approximately 1,339 billion SAT (US $582 million). At that time, the bank's shareholders' equity was valued at 164 billion Tach (71.46 million USD). As of December 2019, the bank's total assets were valued at 1,148,710,000,000/= (496,575,000 USD) and shareholders' equity was 241,351,000,000/= (104,333,000 USD).

History

The bank was founded in 1995 by the Tanzanian Citizens and National Pension Fund and the International Financial Institution Group, then known as First Adili Bancorp, which included the East African Development Bank, the Swedish International Development Agency and the US commercial bank Gerald Metals Inc. Today, the major shareholders are the Tanzanian Pension Fund and Tanzanian nationals.

In January 2019, Azania Bank acquired the assets and liabilities of retail commercial bank M Bank, which had been managed by Bank of Tanzania since August 2018 due to "serious liquidity problems" and "inability to meet its obligations." As of December 2021, the bank maintained a branch network at the following locations:

1. Masdo Branch - Samora Avenue, Dar es Salaam
2. Kariakoo Branch - Msimbazi Street, Dar es Salaam
3. Kisutu Branch - Kisutu, Dar es Salaam
4. Tegeta Branch - Chief House, Tegeta, Dar es Salaam
5. Mwenge Branch - Mwenge Market, Dar es Salaam
6. Mawasiliano Agency - Sam Nujoma road, Dar es Salaam
7. Industrial Branch - Nyerere road, Dar es Salaam
8. Lumumba Branch - Lumumba Street, Dar es Salaam
9. Mwaloni Branch - Mwaloni Fish Market, Mwanza
10. Rockcity Branch - Makongoro Street, Mwanza
11. Rwagasore Agency - Rwagasore Street, Mwanza
12. Lamadi Agency - Ramadi, Simiyu
13. Lubin Branch - Lubin Central Business District, New Yang Deer District
14. Kagongwa Agency - Iponya Street, Kahama, Shinyanga
15. Arusha City Branch - Kaloleni Street, Arusha
16. Mbauda Branch - Mbauda Corner, Arusha-Dodoma Road, Arusha
17. Arusha Business Centre - Joel Maeda Street, Arusha
18. Moshi Branch - Opp. Moshi Municipal Offices, Moshi
19. Geita Branch - Geita
20. Geita Mineral Centre - Kalangalala Street, Gaeta
21. Gatoro Branch - Geita
22. Nyalugusu Service Centre - Geita
23. Morogoro Branch - Old Dar es Salaam rd Street, Morogoro
24. Sokoine Branch - Kikuyu Avenue, Dodoma
25. Tunduma Branch - Sumbawanga Road, Tunduma
26. Mbeya City Branch - Karume Avenue Road, Mbeya

Governance

Board of Directors, which 1 is an executive director and 10 are non-executive directors. The chairman of the board is engineer Julius Ndyamukama, one of the non-executive directors. The managing director of Azania Bank is Ms. Esther Mangénya