AfricaPress-Tanzania: The United Bank for Africa Tanzania Limited has again extended its support to Julius Nyerere Hydropower Project after providing another $40 million in project financing, bringing its total commitments to over $400 million.
Last year, the United Bank for Africa provided $366 million financial support to the 2,115MW Julius Nyerere Hydropower Project.
As a further demonstration of the support for the project, UBA Tanzania has launched an ultra-modern business office at the project site.
Commenting on the new office, Managing Director of the Bank Kingsley Ulinfun said that in line with UBA customer first philosophy, this was another step that UBA Tanzania had taken in its branch expansion programme.
The newly opened UBA Rufiji Branch will offer full banking services to contractors, staff and the general public at the Julius Nyerere Hydropower Station, also called Rufiji Hydroelectric Power Station, a 2,115MW hydroelectric dam under construction.
The new branch also comes with a variety of digital products and services, including secure and the convenient payment of bills and online transactions, an indication of the bank’s commitment to the project and support for the government’s infrastructural development.
The bank plans to open in five more locations Tanzania Zanzibar, Mwanza, Mbeya and Arusha.
The project has been described as one of the biggest achievements in President John Magufuli’s government, who is determined in building an industrialised nation with an improved economic system and development for her citizen.
The United Bank for Africa Plc is a Pan-African financial institution, offering banking services to more than 21 million customers, across over 1,000 business offices and customer touch points, in 20 African countries.
With presence in the United States of America, the United Kingdom and France, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.
