News from AccessBank in Tanzania

ABT awarded by MFTransparency

(by Sijaona Simon)

Dar Es Salaam, 18 May 2012. AccessBank Tanzania (ABT) has been awarded by MFTransparency with a Certificate of Pricing Transparency for participating in the Transparent Pricing Initiative in Tanzania. The bank’s product pricing data are now displayed together with the data of 14 other microfinance providers in Tanzania on the website.

MFTransparency was established in 2008 to promote the welfare of poor micro entrepreneurs, and to promote the integrity of microfinance as a poverty alleviation practice. Its mission is to be the venue for the microfinance industry to publicly demonstrate its commitment to pricing transparency, integrity and poverty alleviation.

Commenting on the award, ABT Chief Executive Officer Mr. Roland Coulon said, “Our Bank is offering services in a transparent manner and we have always been very open about our charges and processes. We are grateful to MFTransparency that this has been recognized with an award. ABT products and services are designed to meet the needs of the majority of Tanzanians. We offer business loans to entrepreneurs, current and savings accounts, domestic and international money transfers and ATM services under Umoja Switch Consortium.”

AccessBank Tanzania started its operations in Dar Es Salaam in November 2007, with the mission to provide Tanzanians with access to a broad range of financial services and to help them improve their businesses in a sustainable and efficient manner. Today ABT clients can also enjoy these services outside Dar Es Salaam through a network of six branches located in Kijitonyama, Temeke, Lumumba, Manzese, Tabata and Mbagala. Two more branches, in Kariakoo and in Mwanza, will be open by the end of this year.

AccessBank Tanzania Limited is owned by the following shareholders: African Development Bank (AfDB), Belgian Investment Company for Developing Countries ( BIO), IFC (International Finance Corporation – World Bank Group), KfW (German Development Bank), and Access Microfinance Holding, strategic investor in microfinance based in Berlin, Germany.