Absa eyes Tanzania’s high-potential market

DAR ES SALAAM: ABSA Group has flagged Tanzania as a high-potential market and pledged deeper engagement beyond traditional banking services.

The remark was made by Absa Group Chief Executive Officer, Mr Kenny Fihla, during his visit to Tanzania this week, part of a broader East African engagement tour aimed at reinforcing the Group’s commitment to regional growth, sustainable financial inclusion and a stronger customer focus.

“Tanzania is a market of immense potential and our presence here must reflect more than just financial services – it must reflect partnership, purpose and progress,” said Fihla.

“Our ambition is to be relentlessly customer obsessed. That means listening more, acting faster and delivering solutions that are relevant to the lives and businesses of Tanzanians. We are here to build lasting relationships and to grow with the communities we serve.”

The visit marks the first leg of a broader Absa Regional Operations (ARO) roadshow covering other key African markets. It follows Mr Fihla’s recent appointment as Group CEO in June this year.

The tour aligns with Absa’s pan-African growth strategy, which aims to deepen the Group’s footprint in high-potential economies and drive regional integration through digital innovation, SME development and sustainable finance.

During the Tanzania visit, Absa’s leadership team explored opportunities to further support the country’s economic transformation particularly in fintech, trade finance and youth empowerment.

The visit also included internal engagements with staff, reinforcing the Group’s values and strategic priorities across its operations.

The visit underscores Absa’s recognition of Tanzania as a pivotal market in its East Africa footprint.

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With GDP growth projected at 6.1 per cent in 2025 and a robust expansion across sectors such as ICT, energy and mining, Tanzania presents a compelling opportunity for financial innovation and inclusive banking.

During his visit, Fihla engaged with key stakeholders, including clients and customers, regulators and colleagues across Absa’s Tanzanian operations.

The itinerary included strategic discussions on enhancing customer experience, optimising capital deployment and aligning with Tanzania’s national development priorities.

Commenting on the visit, Absa Bank Tanzania’s Managing Director, Mr Obedi Laiser said “We are honoured to welcome the Group Chief Executive Officer to Tanzania.

His visit reaffirms the strategic importance of the Tanzanian market within Absa Group’s pan-African footprint and signals continued confidence in the bank’s growth journey.

“At Absa Bank Tanzania, we are deeply committed to driving meaningful impact through innovative financial solutions, inclusive banking and strong stakeholder partnerships – values that are strongly echoed by the Group’s purpose of empowering Africa’s tomorrow, together… one story at a time.”

Managing Director of NBC Bank Tanzania, Theobald Sabi an Absa majority-owned bank, said, “We are honoured to welcome the Absa Group leadership to NBC Bank and Tanzania. As our majority shareholder, Absa remains a strategic anchor in our growth journey. This visit by our senior leaders reaffirms Tanzania’s vital role within Absa’s pan-African footprint and underscores the strength of our shared purpose empowering Africa’s tomorrow. At NBC Bank, we take pride in being part of a purpose driven group committed to inclusion, shared growth and sustainability. Together, we are empowering our communities and creating lasting impact.”