Question 1

What is Exim Bank Tanzania?

Accepted Answer

Exim Bank Tanzania is a large commercial banking institution providing comprehensive financial services to individuals, small-to-medium-sized enterprises (SMEs), and large corporate clients in Tanzania. As of December 2021, the bank's total assets were valued at approximately TSh 1.372 trillion (US$590.3 million).

The bank is part of the Exim Bank Group (East Africa), a regional financial services conglomerate with subsidiaries operating across multiple East African nations. Following the acquisition of First National Bank of Tanzania in July 2022, the group's total assets reached TSh 2.4 trillion (US$1.033 billion).

Question 2

When was Exim Bank Tanzania founded?

Accepted Answer

Exim Bank Tanzania was founded in August 1997 by a group of Tanzanian business people following the liberalization of the Tanzanian economy and banking sector. The bank reportedly broke even within its first five months of operation, demonstrating early financial viability.

The bank was established to provide innovative commercial banking services to the growing Tanzanian market. It was designed to specialize in pre-export crop financing and trade and financial services to small and medium enterprises, filling a crucial gap in the country's developing financial sector.

Question 3

Where is Exim Bank Tanzania headquartered?

Accepted Answer

Exim Bank Tanzania is headquartered in Dar es Salaam, Tanzania's largest city and commercial capital. The bank's principal office is located at Exim Tower, Plot 1404/05, Ghana Avenue, in Dar es Salaam.

The headquarters serves as the nerve center for the entire Exim Bank Group (East Africa), which maintains operations across multiple countries in the region.

Question 4

Where does Exim Bank Tanzania operate?

Accepted Answer

Exim Bank Tanzania operates extensively throughout Tanzania with a network of over 33 branches across the country. The bank maintains a strong presence in Dar es Salaam with multiple branches including Clock Tower, Exim Tower, Hill Park at Mlimani City, Samora Avenue, Kariakoo, and several other strategic locations.

Beyond the commercial capital, the bank has established branches in major Tanzanian cities and regions including Mwanza, Arusha, Moshi, Tanga, Zanzibar, Morogoro, Mbeya, Mtwara, Iringa, Shinyanga, Tabora, Karatu, Kigoma, and Dodoma. This extensive branch network ensures accessibility for customers throughout the country.

Question 5

What services does Exim Bank Tanzania offer?

Accepted Answer

Exim Bank Tanzania offers a comprehensive range of commercial banking services including deposit accounts, various loan products (consumer loans, mortgages, and business loans), domestic and international money transfers, and payment processing services. The bank provides both debit and credit cards, with a focus on international card services.

The bank specializes in pre-export crop financing and trade finance services, particularly supporting SMEs and agricultural businesses. Digital banking services include online banking platforms, mobile banking (including the Lipa Chapchap mobile payment service), ATM services, and point-of-sale (POS) terminals.

As of 2017, the bank had installed 29 ATMs and 383 POS terminals across its network. The bank also offers MoneyGram services for international money transfers and maintains SWIFT connectivity for fast international fund transfers.

Question 6

What makes Exim Bank Tanzania unique?

Accepted Answer

Exim Bank Tanzania holds several distinctions in the Tanzanian banking sector. It was the first indigenous Tanzanian bank to establish subsidiaries outside the country, expanding into Comoros (2007), Djibouti (2011), and Uganda (2016), making it a truly regional player.

The bank was also the first in Tanzania to introduce International Credit Cards issued domestically and the first to introduce ATM mobile services. It pioneered special women's programs and has maintained a strong focus on agricultural sector financing.

The bank's commitment to social responsibility is demonstrated through initiatives like annual blood donation campaigns conducted at multiple branches. Its ability to achieve profitability within five months of establishment and its consistent growth through strategic acquisitions showcase its strong management and business acumen.

Question 7

What type of financial institution is Exim Bank Tanzania?

Accepted Answer

Exim Bank Tanzania is a commercial bank operating under a full banking license issued by the Bank of Tanzania on December 30, 1992. The bank is licensed under the Tanzania Banking and Financial Institutions Act, 2006.

As a commercial bank, it provides a complete suite of banking services to retail, SME, and corporate customers. The bank is privately owned and operates as a private company limited by shares, incorporated under the Companies Act, 2002.

Question 8

What is the Exim Bank Group (East Africa)?

Accepted Answer

Exim Bank Tanzania serves as the largest subsidiary and headquarters of the Exim Bank Group (East Africa), a financial services conglomerate that maintains banking operations in multiple countries. The group includes Exim Bank (Tanzania), Exim Bank (Comoros), Exim Bank (Djibouti), and Exim Bank (Uganda).

The group employs approximately 937 staff members (as of 2021) and has grown significantly through both organic expansion and strategic acquisitions. In July 2022, the group's total assets exceeded TSh 2.4 trillion (US$1.033 billion), positioning it as a major regional banking organization.

The group's vision is to be the "bank of choice," with a mission to remain an innovative Tanzanian bank offering services of international standards.

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About Exim Bank Tanzania in Tanzania