Dar es Salaam, Tanzania The First National Bank, a division of FirstRand Bank has celebrated its one year anniversary in Tanzania with plans to invest Small and medium Enterprises (SMEs) to foster the country’s social and economic development.
Since commencing their operations in July 2011,
FNB's operations have performed well in Tanzania and are in line with
expectations illustrating the sound investment and business opportunity
provided in the country.
Speaking to reporters during the dinner party gala
in Dar es Salaam last week, FNB Chief Executive Officer Dave Aztken said that
the bank would expand its network services across the country to enable more
people to have financial access.
“Despite challenges of many financial institutions
in Tanzania but the FNB would continue to improve its financial services in
this era of information technology,” he said.
He said that to date, the bank has successfully
opened three branches in Dar es Salaam, with a fourth branch expected to open
before the end of the year.
Aztken noted that further expansion into areas such
as Arusha, Mwanza and Mbeya will follow and the expansion is set to continue
over the coming years until true national representation is achieved.
"For First National Bank, this is a significant
development for our expansion strategy and growth in East Africa, West Africa
and Southern Africa as we see this presence core to our Africa footprint.
We have identified Tanzania as a key growth market
for the banking group and see a bright future for investment and expansion in
the country," says Aztken CEO of FirstRand Bank.
"FNB has launched a range of products into the
Southern African and African markets over the last few years, and we intend to
do the same in Tanzania,"
"We consider ourselves to be a market leader in
introducing new and innovative products and will be tapping into the systems
and expertise of the group to ensure the smooth roll-out of these products in
Tanzania,” he lamented.
These products are all aimed at making the banking
experience more efficient and more rewarding for our customers, and even more
so for the unbanked market."
Aztken Hudson explains that the investment in
Tanzania is aligned to the group's strategy of being a significant player in
the banking industry in Africa.
He added that there were many compelling reasons for
investing in Tanzania in its own right and these included, but were not limited
to, the country's large population, strong economic growth, a sizeable GDP, a
well regulated banking industry and a stable political environment.
"We remain committed to our brand Promise and
we intend to continue to deliver on that promise.
We look forward to partnering with the people of
Tanzania by making a positive contribution to the economy and hope that the FNB
experience will be a rewarding one, where customers truly experien
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