AKIBA COMMERCIAL BANK RECEIVES TSHS 17 BILLION IN STRATEGIC INVESTMENTS FROM THE NATIONAL BANK OF MALAWI

Akiba Comercial Bank's Acting Managing Director, Juliana Swai (right) speaks to reporters at a press conference in Dar es Salaam yesterday. She is flanked by the Bank's Head of Marketing & Communications, Dora Saria.

Dar es Salaam - Akiba Commercial Bank (ACB) has received Sh17 billion in strategic investments from the National Bank of Malawi (NBM) in a merger that was concluded February 2021.

Through the investment, Akiba Commercial Bank has strengthened its capital base to meet requirements of the Bank of Tanzania required for operations of commercial banks in the country.

Addressing reporters at a press conference yesterday, Akiba Comercial Bank's Acting Managing Director, Juliana Swai said the merger aimed at strengthening the bank’s capital as required by the Bank of Tanzania.

“Akiba Commercial Bank has been looking at the market demands as well as a strategic investor or shareholder in order to strengthen the bank and improve its services as well as starting more other services required in the country’s market,” she said.

She pledged major and positive changes in services delivery as well as systems of services delivery, saying customers will be serviced with the highest integrity and professionalism based on the experience from both institutions.

“We also understand the bilateral relations between the two countries in various areas including trade and creating an enabling environment for trade prosperity through easy access of financial services.