5 new banks set to open by mid-2009

Following the success of Community Banks in Tanzania, 5 new community banks a set to open within a year's time. Currently, there are 7 community banks in operation in Tanzania, namely, Dar Es Salaam Community Bank, Kilimanjaro Cooperative Bank, Mbiga Community Bank, Mwanga Rural Community Bank, Mufindi Community Bank, Kagera Farmers Cooperative Bank and Uchumi Community Bank.

I got a chance to do some business with some of the banks when I was at UTT. And I was really impressed!

The following story is from The Citizen

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Help Age International development policy analysis, lobby and advocacy programme director Nicodemus Chiphupa speaks at the 3rd Social Protection and Insurance Workshop in Dar es Salaam yesterday.

By Bethuel Kinyori

Five more community banks (CBs) are set to open countrywide by mid next year, the banks' association has revealed.

Community Banks Association (CBA) board chairman Abby Ghuhia said the new banks include the Tandahimba Community Bank in Mtwara region whose operations will commence in December this year.
Others, but still at the funding stage, are the Meru Community Bank in Arusha, Morogoro Community Bank, Singida Yetu Community Bank and Njombe Community Bank.

Mr Ghuhia, who is also the managing director of Mwanga Community Bank, was speaking at the association's annual general meeting last Friday. More...