Commercial Bank of Africa (Tanzania)
Encyclopedia
Commercial Bank of Africa (Tanzania) (CBAT) is a commercial bank
in Tanzania
. It is one of the twenty-nine (29) banks licensed by the Bank of Tanzania
, the country's banking regulator. The bank is a member of the Commercial Bank of Africa Group
, headquartered in Nairobi
, Kenya
, with subsidiaries in Kenya
and Tanzania
.
. Like its parent company in Kenya
, CBAT focuses on meeting the banking needs of large corporations, diplomatic missions, NGOs and high-end private clients.
, Tanzania
. Soon, branches were opened in Nairobi
& Mombasa
, Kenya
and in Kampala
, Uganda
. When Tanzania nationalized private banks in 1967, the bank moved its headquarters to Nairobi. Following political changes in Uganda in 1971, the bank sold its assets in that country. In July 2005, Commercial Bank of Africa
(CBA) acquired majority shareholding in First American Bank of Kenya, which at the time had a Tanzania
n subsidiary called United Bank of Africa.. In 2007, United Bank of Africa rebranded to Commercial Bank of Africa (Tanzania), returning the brand to the country since 1967. In October 2011, the CBA Group anounced plans to enter Uganda
.
, a large, privately owned commercial bank based in Nairobi
, Kenya
.
of Commercial Bank of Africa (Tanzania).
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
. It is one of the twenty-nine (29) banks licensed by the Bank of Tanzania
Bank of Tanzania
The Bank of Tanzania is the central bank of the United Republic of Tanzania. It is responsible for issuing the national currency, the Tanzanian shilling....
, the country's banking regulator. The bank is a member of the Commercial Bank of Africa Group
Commercial Bank of Africa Group
Commercial Bank of Africa Group is a financial services provider in East Africa. Its headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya and Tanzania.-Location:...
, headquartered in Nairobi
Nairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, with subsidiaries in Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
and Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
.
Overview
CBAT serves the banking needs of individuals and businesses in TanzaniaTanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
. Like its parent company in Kenya
Commercial Bank of Africa
Commercial Bank of Africa is a financial services provider headquartered in Nairobi, Kenya. CBA is one of the forty-four licensed commercial banks in the country.-Overview:...
, CBAT focuses on meeting the banking needs of large corporations, diplomatic missions, NGOs and high-end private clients.
History
The bank was founded in 1962 in Dar es SalaamDar es Salaam
Dar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...
, Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
. Soon, branches were opened in Nairobi
Nairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
& Mombasa
Mombasa
Mombasa is the second-largest city in Kenya. Lying next to the Indian Ocean, it has a major port and an international airport. The city also serves as the centre of the coastal tourism industry....
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
and in Kampala
Kampala
Kampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
, Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. When Tanzania nationalized private banks in 1967, the bank moved its headquarters to Nairobi. Following political changes in Uganda in 1971, the bank sold its assets in that country. In July 2005, Commercial Bank of Africa
Commercial Bank of Africa
Commercial Bank of Africa is a financial services provider headquartered in Nairobi, Kenya. CBA is one of the forty-four licensed commercial banks in the country.-Overview:...
(CBA) acquired majority shareholding in First American Bank of Kenya, which at the time had a Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
n subsidiary called United Bank of Africa.. In 2007, United Bank of Africa rebranded to Commercial Bank of Africa (Tanzania), returning the brand to the country since 1967. In October 2011, the CBA Group anounced plans to enter Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
.
Ownership
Commercial Bank of Africa (Tanzania) is a wholly owned subsidiary of Commercial Bank of AfricaCommercial Bank of Africa
Commercial Bank of Africa is a financial services provider headquartered in Nairobi, Kenya. CBA is one of the forty-four licensed commercial banks in the country.-Overview:...
, a large, privately owned commercial bank based in Nairobi
Nairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
.
Branch Network
, CBA Tanzania maintains branches at the following locations:- Ohio Street Branch - Ohio Street, Dar es SalaamDar es SalaamDar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...
- Main Branch - Samora Avenue Branch - Samora Avenue, Dar es SalaamDar es SalaamDar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...
- Nyerere Road Branch - Nyerere Road, Dar es SalaamDar es SalaamDar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...
- Kariakoo Branch - Tropical Hotel, Narung'ombe Street, Dar es SalaamDar es SalaamDar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...
- Mbeya Branch - MbeyaMbeyaMbeya is a city located in southwest Tanzania, Africa. Mbeya's urban population was 280,000 in 2005. Mbeya is the capital of the surrounding rural Mbeya region ....
- Mwanza Branch - Kenyatta Road, MwanzaMwanzaMwanza is a mid-sized port city on the southern shores of Lake Victoria in northwestern Tanzania. With an urban population of 1.2 million and a metropolitan population of 2 million, it is Tanzania's second largest city, following Dar es Salaam and ahead of other major Tanzanian cities of Arusha,...
- Arusha Branch - ArushaArushaArusha is a city in northern Tanzania. It is the capital of the Arusha Region, which claims a population of 1,288,088, including 281,608 for the Arusha District . Arusha is surrounded by some of Africa's most famous landscapes and national parks...
Governance
Nehemiah Kyando Mchechu is the Managing Director and Chief Executive OfficerChief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of Commercial Bank of Africa (Tanzania).
External links
- Profile at Linkedin.com
- Website of Commercial Bank of Africa (Tanzania)
- Website of Commercial Bank of Africa (Kenya)
- Website of Bank of Tanzania
See also
- List of banks in Tanzania
- CBA Group
- Commercial Bank of AfricaCommercial Bank of AfricaCommercial Bank of Africa is a financial services provider headquartered in Nairobi, Kenya. CBA is one of the forty-four licensed commercial banks in the country.-Overview:...
- Bank of TanzaniaBank of TanzaniaThe Bank of Tanzania is the central bank of the United Republic of Tanzania. It is responsible for issuing the national currency, the Tanzanian shilling....
- Economy of TanzaniaEconomy of Tanzania- History :Significant measures have been taken to liberalize the Tanzanian economy along market lines and encourage both foreign and domestic private investment. Beginning in 1986, the Government of Tanzania embarked on an adjustment program to dismantle socialist economic controls and encourage...