Mission:
Akiba Commercial Bank (ACB) is committed to becoming a leader in microfinance in Tanzania by rapidly expanding its lending and savings products and extending them to the vast number of microentrepreneurs who continue to lack access to customer-oriented financial services.
Organizational Structure: ACB is a full-service, commercial bank targeting micro, small and medium enterprises in the Tanzanian capital city, Dar es Salaam, and in other secondary cities in Tanzania. The majority of ACB's shares are owned by individual Tanzanians. International partners include Triodos, FMO, SIDI and Incofin.
History: ACB was founded in 1993 by a group of five publicly-minded Tanzanians. At the time, existing banks were not serving the needs of micro and small business owners and there was a clear need for a bank that recognized the importance of access to financial services. In 1997, ACB received its operating license and was formally launched.
Borrower Profile:
ACB’s key target market is the low-income entrepreneurs and salaried workers of Tanzania. The bank also provides a range of product offerings, including large corporate overdrafts, consumer finance and corporate loans.
What’s New: ACB continues to solidify its presence in the areas where it operates. It recently opened an agency in Moshi.
Where They Work: Dar es Salaam, Arusha, Moshi and other secondary cities.
Contact Information:
TDFL Building (Phase II)
Ali Hassan Mwinyi Road
Dar es Salaam
P.O. Box669
TANZANIA
Tel: 255 22 2118340/3
Fax: 255 22 2114173
Email: akiba@cats-net.com
