Exim Bank Group (East Africa)

Exim Bank Group (East Africa) (EBGEA), is a financial services conglomerate based in the African Great Lakes region. EBGEA's headquarters are in Dar es Salaam, Tanzania, with subsidiaries in Uganda, Tanzania, Comoros, Djibouti and Ethiopia.[1][3]

Not to be confused with Exim Bank (Tanzania).

Exim Bank Group (East Africa)
TypePrivate conglomerate
IndustryBanking and Finance
PredecessorN/A
FoundedAugust 15, 1997 (1997-08-15)
Headquarters
Exim Tower
1404/05 Ghana Avenue
Dar es Salaam, Tanzania
Key people
Juma Mwapachu
Chairman
Jaffari Matundu
Group CEO
ProductsLoans, mortgages, investments, debit cards, credit cards
RevenueIncrease:Aftertax:TZS:16.5 billion (US$7.105 million) (2021)[1]
Total assetsTZS:2.4 trillion (US$1.033 billion) (July 2022)[2]
Number of employees
937 (2021)[1]
WebsiteHomepage

Overview

EBGEA is a large financial services conglomerate. As of 15 July 2022, the group had estimated assets exceeding TZS 2.4 trillion (US$1.033 billion).[2]

At the end of December 2021, the group had banking operations in four countries across the East African region. The bank issues "TANAPA" Mastercards and Visa cards, acceptable regionally and internationally. At that time the group employed 937 staff members. The group's shareholders' equity at that time was TZS 204.015 billion (US$87.844 million).[4]

History

EBT was formed in 1997 by a group of Tanzanian business people. The bank is reported to have broken even within the first five months of operation.[5] The subsidiary in the Comoros was established first, in 2007. Later, in 2011, Exim Bank opened a subsidiary in Djibouti. In 2016, the bank set foot in neighboring Uganda, by acquiring shareholding in the former Imperial Bank Uganda, converting it into Exim Bank Uganda.[6][7] In December 2019 the Group established a representative office in Ethiopia, through its Djibouti subsidiary.[3] In July 2022, Exim Bank Tanzania acquired First National Bank of Tanzania, bringing total group assets to TZS 2.4 trillion (US$1.033+ billion).[2]

Member companies

The group consists of the following subsidiaries: Exim Bank (Comoros), Exim Bank (Djibouti), Exim Bank (Uganda) and Exim Bank (Tanzania).[7]

See also

References
  1. Exim Bank (14 April 2022). "Exim Bank Tanzania Audited Accounts for the Year Ended 31 December 2022" (PDF). Exim Bank Tanzania. Dar es Salaam. Retrieved 19 July 2022.
  2. Tanzania Daily News (18 July 2022). "Tanzania: Exim Completes Acquisition of FNB Tanzania" (via AllAfrica.com). Tanzania Daily News. Dar s Salaam, Tanzania. Retrieved 19 July 2022.
  3. The Citizen (25 November 2019). "Exim Bank expands its wings to Ethiopia". The Citizen (Tanzania). Dar es Salaam. Retrieved 3 December 2019.
  4. Exim Bank (14 April 2022). "Exim Bank Tanzania Audited Accounts for the Year Ended 31 December 2022" (PDF). Exim Bank Tanzania. Dar es Salaam. Retrieved 19 July 2022.
  5. IGJ (2009). "Exim Bank Tanzania: Company Profile and History". Ide.Go.Jp (IGJ). Retrieved 17 October 2017.
  6. EBTANZ (17 October 2017). "Exim Bank Tanzania: About Us". Dar es Salaam: Exim Bank (Tanzania) (EBTANZ). Retrieved 17 October 2017.
  7. Big Eye (18 May 2016). "Exim Bank Celebrates Another Milestone In East Africa's Financial Sector". Bigeye.ug (Big Eye). Retrieved 17 October 2017.
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