Dar es Salaam. Akiba Commercial Bank (ACB) has received Sh17 billion strategic investments from the National Bank of Malawi (NBM) in a merger that was concluded last month.
Through the investment, ACB has strengthened its capital base to meet requirements of the Bank of Tanzania (Bo’!) for operations of commercial banks in the country.
Addressing a press conference yesterday, ACB’s acting managing director Juliana Swai said the merger aimed at strengthening the bank’s capitaltal as required by the BoT.
“ACB has been looking on market demands as well as a strategic investor or shareholder in order to strengthen the bank and improve its services as well as starting more other services required in the country’s market;” she said.
She pledged major and positive changes in services delivery as well as systems of services delivery, saying customers will be serviced with highest integrity and professionalism based on experience from both institutions.
“We also understand the bilateral relations between the two countries in various areas including trade and creating an enabling environment for trade prosperity through easy access of financial services.
“The investment will create an enabling environment of doing business for countries in the Southern African Development Community (Sadc)”
Media outlets in Malawi reported that NBM – which is the country’s largest lender by market capitalization and assets – had acquired a 51 percent stake in Tanzania’s ACB in a deal worth $7.31 million.
Source: The Citizen March 4th
Akiba Commercial Bank celebrated customer service week 2019 as a sign of appreciation to our estmeed customers for giving us an opportunity to serve them. We optimize this event to appreciate our customers for banking with Akiba also to collect feedback from customers in order improve our products and services and hence meet customer expectations. The week was celebrated in all Akiba branches in the first week of October 2019.
Akiba Commercial Bank (ACB) launches New Investment Product on 25 th September, 2019.
In a bid to offer attractive investment products for Tanzania from all walks of life, Akiba Commercial
Bank Plc has launched an innovative new product.
Dubbed “Akiba Lengo Investment Plan” the new product has unique and exclusive features that will
enable customers to accumulate funds towards fullfilling their life time dreams, whether it is buying
car, starting a new business, building/renting a house or taking that dream vacation.
Akiba Lengo Investment Plan (Akiba LIP) is designed to assist customers to achieve their investment
goals by making consistent monthly deposits until the attainment of the selected tenure.
Akiba LIP is easily accessible with low minimum subscription of TZS 20,000, flexibility to select
investment period between 1 and 5 years and attract interest up 12% per annum.
Akiba Commercial Bank Mwanza Branch Staff celebrated the World Enviromental Day by conducting cleanliness at Soko Kuu Mwanza (Mwanza Main Market) .
After cleanliness Akiba Commercial Bank donated all the cleaning items and gears to the leaders of the Market to ensure sustainable cleanness of market environment.