Finance

Access Bank Tanzania

Loans for booming businesses

Tanzania is experiencing steady and sustainable growth. Contributing to that prosperity is Access Bank Tanzania. It provides entrepreneurs with microcredit, SME (“Small and Medium Enterprises”) loans and financial planning guidance.

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Establishing a functioning financial sector has been key to Tanzania’s development.

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Tanzania is the biggest country in East Africa. While it remains one of the world’s least developed countries, recent political stability has meant that the nation has seen steady economic growth for the past ten years: 7% for 2015. 

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Living conditions are improving and there is no shortage of entrepreneurial energy. What the country does lack, though, are the requisite business structures.

Only an estimated 19% of the population have a bank account, just 9% have savings and as few as 6% can draw on formal credit facilities.

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Helping to establish those business structures and enable financial development, Access Bank Tanzania provides industrious solo and small-scale entrepreneurs with microcredits and SME loans.

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Founded in 2007, Access Bank Tanzania is now the country’s biggest private bank.

Market leader in microfinancing and SME banking: Access Bank Tanzania’s 900 employees look after some 32,000 clients and administer 238,000 savings accounts.

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Recent economic development has had a positive impact on the lives of Tanzania’s 53 million people.

This is reflected in better overall access to schooling, healthcare and food, and in the fact that more of the population are now working in cities, outside the agricultural sector.

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Agriculture is an important part of the Tanzanian economy, and accounts for over 75% of the country’s working population.

However, progress is being felt primarily in the cities and the prosperity gap has widened between urban and rural inhabitants.

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Juliette Yesaya Mlay is a typical client of the bank. She supplies the fashion-conscious middle class with imported goods from Uganda.

The bank’s Kijitonyama branch has been helping her develop her business for 5 years. They provide a USD 2,250 credit facility to pre-finance her stock procurement.

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Roland Coulon, CEO of Access Bank Tanzania from 2011 to 2016, is amazed at Tanzania’s entrepreneurial energy.

“But because they haven’t refined their organizations, they get turned down by the regular banks and need financing from specialists in microcredits and SME loans – people like us.”

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Lewanga Kassim Kileo (left) has been financing his imports via loans from Access Bank Tanzania since 2007.

Since then, he has bought a second shop, two storage rooms, a house, a motorbike and three further plots of land. And he now employs four personnel.

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Njeri Kirumbi, responsAbility Investment Officer, says Access Bank Tanzania is a sound company that’s shown impressive growth since 2007.

“With its extensive agency network and the ever-growing use of mobile banking services, we feel that Access Bank Tanzania is set for further strong growth, too.”

Booming Business

Booming Business

You can read the whole Access Bank Tanzania: loans for booming business story by downloading the 12-page case Study.

You can read the whole Access Bank Tanzania: loans for booming business story by downloading the 12-page case Study.

You can read the whole Access Bank Tanzania: loans for booming business story by downloading the 12-page case Study.