AfricaPress-Tanzania: BANK of Africa (BoA), a subsidiary of BMCE Group, has reclaimed the second safest bank award in Africa awarded by Global Finance Magazine, which signifies high market trust and confidence.
The award is part of its 29th annual ranking of the World’s Safest Banks.
BoA Tanzania Acting Managing Director Wasia Mushi said they were excited for BMCE Group recognition and with this they urged clients to continue trusting them and share feedback on areas that needed improvement.
BoA enjoys the synergy and benefits from technological resources, management expertise and financial resources of its parent company.
Underscoring the confidence on the growth potential of the Tanzanian market, the shareholders of BoA have invested over 70bn/- in the country over the last 13 years.
The investment has been directed towards growing their branch network and developing innovative products to bring about affordable and convenient services to their clients.
With a network of 25 branches across 10 regions in Tanzania, the lender is among the top 10 banks in the country with extensive footprint across the country.
“We are coming up with new products while continuously innovating around the existing to meet demand.”
BMCE Group has been operational for 35 years now with 600 branches present in 18 African countries and a total Group asset base of €8.5bn as in December.
Winners were selected through an evaluation of long-term foreign currency ratings—from Moody’s, Standard & Poor’s and Fitch—of the largest banks worldwide.
Publisher and Editorial Director of Global Finance Joseph Giarraputo said for the most part of 2020, the world had been plagued by the Covid-19 pandemic, a steep drop in economic activity and, in some cases, serious social unrest.
