Letshego Bank Tanzania

Letshego Bank (T) Limited
Type	Private
Industry	Financial Services
Founded	2011
Headquarters	Dar es Salaam, Tanzania
Key people	Claude Falgon Chairman Frank Snieder CEO
Products	Loans, Checking, Savings, Investments, Debit Cards
Total assets	US$8.7 million (TZS:15.3 billion) (March 2015)
Number of employees	179 (2014)
Website	Homepage

Letshego Bank (T) Limited, commonly known as Letshego Bank is a commercial bank in Tanzania. It is one of the commercial banks licensed by Bank of Tanzania, the central bank and national banking regulator.^[1]

Overview

Letshego Bank Tanzania is a commercial bank regulated by the Bank of Tanzania. Its social mission is to provide suitable and sustainable financial services to micro, small, and medium-sized entrepreneurs, and to low and medium income employees. It operates as a microfinance bank. As of March 2014, the shareholders equity was valued at about €5.2 million (US $6.5 million or TZS:11.4 billion). At that time, customer deposits totaled approximately €1.8 million (US $2.23 million or TZS:3.9 billion). It is estimated that the bank's total assets in March 2014 totaled €7.0 million (US $8.7 million or TZS:15.3 billion).^[2]

History

The bank, then known as Advans Bank Tanzania received a commercial banking license from the Bank of Tanzania in May 2010. In February 2011, the bank opened its first branch in Dar es Salaam, the commercial capital city of Tanzania, and the largest city in that East African country. Opening with a staff of eighteen, the bank planned to open more branches in Dar es Salaam and other areas of the country.^[3]

Ownership

The institution opened in 2011 as Advans Bank Tanzania, a joint venture between Advans SA, a venture capital firm registered in Luxembourg as majority shareholder (70 percent), and Netherlands Development Finance Company (FMO) (30 percent). Advans SA aims to establish microfinance financial institutions in emerging economies. Founded in 2005, Advans SA owns microfinance institutions in the Democratic Republic of the Congo, Cameroon, Ghana, Cambodia, Pakistan, Cote d'Ivoire, and Tanzania. As of March 2011, Advans SA had invested in excess of US $76 million (EUR:55 million) in the countries where they operate. In November 2015, Letshego Holdings Limited of Botswana acquired 75 percent in the bank by investing US$7 million in new shares.^[4]

The table below depicts the shareholding within Letshego Bank Tanzania, as of November 2015.^[5]

Letshego Bank (T) Limited Stock Ownership
Rank	Name of Owner	Percentage Ownership
1	Letshego Holdings Limited of Botswana	75.0
1	Advans SA of Luxembourg	17.5
2	Netherlands Development Finance Company of Netherlands	7.5
	Total	100.00

Branch Network

Letshego Bank maintains a network of branches at the following locations:^[6]

Manzese Branch - 93 Morogoro Road, Manzese Darajani, Dar es Salaam (Main Branch)
Kariakoo Branch - Kariakoo Street at Lumumba Street, Kariakoo, Dar es Salaam
Temeke Branch - Opposite Temeke Primary Court, Temeke, Dar es Salaam
Mwanza Branch - Lumumba Road, Opposite Mayi Hotel, Mwanza
Mbeya Branch - Soweto, Former Royal Zambezi, Mbeya.

Governance

The Chief Executive Officer of the bank is Yohane Kaduma.

References

↑ BOT (8 November 2014). "Directory of Commercial Banks Operating In Tanzania". Dar es Salaam: Bank of Tanzania (BOT). Retrieved 8 November 2014.
↑ Advans SA, . (March 2014). "Advans Bank Tanzania Annual Report April 2013 - March 2014" (PDF). AdvansBankTanzania.Com. Retrieved 8 November 2014.
↑ MFF, . (24 February 2011). "Advans SA Opens Fourth Greenfield Microfinance Institution In Tanzania". MicroFinanceFocus.Com (MFF). Retrieved 8 November 2014.
↑ The Citizen Reporter (29 July 2016). "Tanzania: Rebranded Bank's Promise". The Citizen (Tanzania) via AllAfrica.com. Dar es Salaam. Retrieved 29 July 2016.
↑ ABT (16 November 2015). "Letshego Acquires 75 Percent Stake In Advans Bank Tanzania To Advance Its Financial Inclusion Agenda For Africa" (PDF). Dar es Salaam: Advans Bank Tanzania (ABT). Retrieved 29 July 2016.
↑ ABT, . "The Branch Network of Letshego Bank". Advans Bank Tanzania (ABT). Retrieved 8 November 2014.

External links

Banks of Tanzania

Big four Banks	CRDB Bank Exim Bank National Bank of Commerce(NBC) National Microfinance Bank (NMB)

Commercial banks	AccessBank Advans Bank Akiba Commercial Bank Amana Bank Azania Bank Bank M Bank of Baroda Barclays Bank Tanzania Commercial Bank of Africa Dar es Salaam Community Bank Diamond Trust Bank Ecobank Equity Bank First National Bank Tanzania FBME Bank Habib African Bank I&M Bank ICB Bank Kenya Commercial Bank Mkombozi Commercial Bank NIC Bank People's Bank of Zanzibar

Major foreign banks	BancABC Bank of Africa Citibank Bank of India Stanbic Bank Standard Chartered United Bank for Africa United Bank Limited

Financial institutions	Maendeleo Bank Tanzania Postal Bank Tanzania Women's Bank Limited

Development bank	Tanzania Agricultural Development Bank Tanzania Investment Bank

Central Bank of Tanzania

Economy of Tanzania

Currency	Tanzanian shilling Bank of Tanzania

History	Ujamaa Zanzibar Economy Poverty

Industry and Business	Agriculture Coffee Cashew Sisal Mining Companies Tourism

Government Agencies	Tanzania Portal Chamber of Commerce Tanzania Ports Authority Taxation

Transport and Infrastructure	Airports Roads Rail TAZARA Railway DART Julius Nyerere International Airport

Communications	TTCL Vodacom tiGO Airtel Halotel Sasatel SEACOM EASSy

Finance and Banking	Dar es Salaam Stock Exchange (DSE) Banking Microfinance Telecommunications

Economic Blocks	East African Community Southern African Development Community

Energy	TANESCO Power Plants Petroleum Development Tanzania Atomic Energy Commission

Future	East African Railway Master Plan Mtwara Development Corridor

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