| Bank to open 2 more branches | Send to a friend |
| Monday, 30 August 2010 23:19 |
 By Victor KaregaThe Mkombozi Commercial Bank Limited (MKCB) has set aside Sh2 billion for opening new branches in Dar es Salaam and Mwanza. “It's all about expanding our network as fast as possible,” managing director Adwina Lupembe told The Citizen yesterday in Dar es Salaam.MKCB had Sh9.1 billion customer deposits during its first year of operation. “Our bank has recorded a tremendous achievement within its one year of existence and we are very proud to reach that level,” she said.The bank also provided skills on financial management to operators of small and medium-sized enterprises during the period. She noted that the provision of education was intended to increase the knowledge of mainly young people on financing so that they could spend judiciously and invest and run businesses well. She said the knowledge of the basics of personal finance such as variable expenses, interest rates, and budgeting and disposable incomes was low. The programme is also aimed at increasing the percentage of people who access banking services from the current 12 to 15 in the next five years.The bank’s challenges include the shortage of branches, strong competition and difficulties in having an additional capital. The bank had an initial capital of Sh6.7 billion that was raised from local civil societies and individual Tanzanians. Add this page to your favorite Social Bookmarking websites           |
