Bank of Africa Tanzania

Bank of Africa Tanzania Limited

Company type	Private
Industry	Financial services
Founded	2007; 18 years ago (2007)
Headquarters	NDC Development House, Ohio Street, Dar es Salaam, Tanzania
Key people	Nehemiah Kyando Mchechu Chairperson[1] Adam Charles Mihayo Managing Director
Products	Loans, savings, investments, debit cards, credit cards, mortgages
Total assets	TSh 564 billion (US$245.4 million) (2019)[2]
Website	boatanzania.com

Bank of Africa Tanzania Limited, also known as BOA Tanzania (BOAT), is one of the commercial banks in Tanzania that have been licensed by the Bank of Tanzania, the country's central bank and national banking regulator.^[3]

Location

The headquarters and main branch of Bank of Africa Tanzania Limited, are located at National Development Corporation House, Ohio Street, at the corner with Kivukoni Road, in the central business district of Dar es Salaam, Tanzania's business capital and largest city.^[4] The geographical coordinates of the bank's headquarters are: 6°49'03.0"S, 39°17'31.0"E (Latitude:-6.817500; Longitude:39.291944).^[5]

Overview

BOA Tanzania is a retail commercial bank that provides services to multinational companies, mid-size local enterprises, and small retail businesses. As of December 2019, BOA Tanzania was a medium-sized financial services provider, with total assets of TSh 564 billion (approximately US$245.4 million), with customer deposits totalling TSh 390 billion (approximately US$169.7 million).^[2]

Bank of Africa Group

The bank is a member of the Bank of Africa Group, a multinational, Pan African bank headquartered in Bamako, Mali, with presence in 18 countries, across a network of 16 commercial banks, one financial corporation, one banque de l’habitat, one brokerage firm, two investment companies, one asset management company and one Group representative office in Paris. As of December 2018, the group's total assets were valued at €7.62 billion (US$8.24 billion).^[6]

History

BOA Tanzania started its operations in June 2007, when Bank of Africa Group acquired Euroafrican Bank Tanzania, which had been operational since 1995.^[7]

Governance

The bank is supervised by a board of directors, chaired by Nehemiah Kyando Mchechu, a non-executive board member.^[8] The managing director and chief executive officer of the bank is Adam Charles Mihayo.^[2][8][9]

Branch network

As of December 2019, the bank maintained 27 networked branches, including 13 branches in Dar es Salaam, 13 branches in other Tanzanian cities and towns and one Business Centre in Dar es Salaam.^{[citation needed]}

See also

• List of banks in Tanzania

References

1. The Citizen Reporter (8 January 2021). "Tanzania: Bank of Tanzania Approves Appointment of Boa Board Chairman" (The Citizen (Tanzania) via AllAfrica.com). The Citizen (Tanzania). Dar es Salaam. Retrieved 10 January 2021.
2. Rosemary Mirondo (17 February 2020). "Restructuring: Bank of Africa (Tanzania) issues clarification". The Citizen (Tanzania). Dar es Salaam. Retrieved 19 February 2020.
3. Bank of Tanzania (1 January 2020). "Directory Of Banks and Financial Institutions Operating In Tanzania, As Of 1 January 2020" (PDF). Dar es Salaam: Bank of Tanzania. Retrieved 19 February 2020.
4. Bank of Africa Group (2020). "Location of the headquarters of Bank of Africa Tanzania Limited". Bank of Africa Group. Retrieved 19 February 2020.
5. "Location of the headquarters of Bank of Africa Tanzania Limited" (Map). Google Maps. Retrieved 19 February 2020.
6. Bank of Africa Group (2020). "Bank of Africa Group: Shareholders and Activity Report for the Year Ended 31 December 2018". Bank of Africa Group. Archived from the original on 26 September 2020. Retrieved 19 February 2020.
7. The Guardian Reporter (7 January 2019). "BOA Tanzania In Two Month Deposits Mobilization Promotion". The Guardian (Tanzania). Dar es Salaam: IPP Media. Retrieved 9 February 2020.
8. Arden Kitomari (4 April 2019). "Bank of Africa Introduces The New Managing Director In Tanzania". Dar es Salaam: Kitomari Banking & Finance Blog. Retrieved 19 February 2020.
9. Josephine Christopher (29 January 2019). "Bank of Africa appoints new CEO". The Citizen (Tanzania). Dar es Salaam. Retrieved 19 February 2020.

External links

• Official website

06°49′03″S 39°17′31″E