Commercial Bank of Africa
Commercial Bank of Africa Limited was founded in 1962 in Dar es Salaam, Tanzania and quickly established branches in Nairobi and Mombassa in Kenya and in Kampala, Uganda. With the nationalism of banks in Tanzania, CBA reincorporated itself in Kenya in 1967. In 1980, Bank of America acquired shares which were held by other shareholders making the Commercial Bank of Africa Limited became a subsidiary of Bank of America, although Kenyan parties held about 16% of the shares. In late 1984 Bank of America agreed to sell the majority of its shareholding to local investors whilst retaining a minority interest and continuing to provide management to the bank via a management agreement. In recent years, Bank of America was persuaded to sell the remainder of its shares and CBA is now wholly Kenyan owned.
In July 2005, Commercial Bank of Africa Limited (CBA) took over First American Bank of Kenya thereby owning majority shares in United Bank of Africa Ltd. This led to the birth of Commercial Bank of Africa (Tanzania) Limited.
The preservation of our customer’s wealth is our primary focus. To this end we follow a conservative, risk averse strategy, adhering to principles of good banking - strong capitalization, liquidity, risk diversification, conservative lending policies, investment in service delivery channels and customer service orientation.
PPF House, Samora Avenue,
Dar es Salaam
P. O. Box 9640
Dar es Salaam
Tel: +255 22 2130113, +255 22 3130127
Fax: +255 22 2130116