Equity Bank opens new Geita branch to boost miners’ access to loans
The Geita Regional Commissioner, Mr Martine Shigela (right) launch Equity Bank’s branch in the region. With him is Equity Tanzania Managing Director, Ms Isabela Maganga. PHOTO|THE CITIZEN CORRESPONDENT
Geita. Equity Bank now has a new branch in Geita as it extends its services closer to clients in the mineral-rich region.
Gracing the event, the Geita Regional Commissioner, Mr Martine Shigela, urged the lender to extend loans to gold buyers in order to reduce reliance on foreign financing.
Speaking during the launch over the weekend, Mr Shigela said the new branch would expand inclusive financial services targeting key sectors such as mining.
He noted that small-scale miners and traders would now have easier access to credit, which in turn would help stimulate the local economy.
Equity Tanzania Managing Director, Ms Isabela Maganga, said the opening of the Geita branch formed part of the bank’s strategy to bring services closer to areas with significant economic activity.
For his part, the Geita Branch Manager, Mr Hilary Mpaswa, said the bank was committed to empowering miners and traders through affordable loans and quality financial services.
Local businesspeople, including Mr Leonard Bugomola and Mr Richard Eliniko, welcomed the move, saying it would enhance competition and improve the efficiency of banking services in the region.
