BoA extends 2.0bn/- loans to SMEs in Arusha

ARUSHA: BANK of Africa (BoA) Tanzania disbursed loans worth 2.0bn/- last year to Arusha SMEs in a bid to boost business development in the region.

Arusha’s BoA Branch Manager Mr Kasanga Kaombwe said the lender’s optimism is to improve the SMEs’ businesses which will lead to profit maximisation through loans.

“The bank is serving diverse customers spread all over the country through its 19 branches network,” said Mr Kaombwe in a statement during the celebration of the Financial Services Week exhibition held over the weekend in Arusha.

He said the lender’s participation in the event is to fulfill the bank’s motive of creating awareness among the public especially entrepreneurs on the use of financial systems to increase financial inclusion in the country.

“We have come to speak about the opportunities to you, especially the entrepreneurs, and to give education on the correct use of loans that will help them grow your capital and businesses,” he added.

BoA Tanzania is part of the Group BMCE, which now operates through a network of commercial banks in 18 countries namely; Benin, Burkina Faso, Burundi, Cote d’ivoire, Djibout, DRC, Ethiopia, France, Ghana, Kenya, Madagascar, Mali, Niger, Rwanda, Senegal, Tanzania, Togo and Uganda.

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