Selcom Microfinance Bank Tanzania


Selcom Microfinance Bank Tanzania, previously known as Access Microfinance Bank Tanzania, is a microfinance bank located in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
WWW accessbank.co.tz

Overview

SMFB is a Microfinance Bank that focuses on the micro-finance sector, serving micro, small and medium-sized enterprises. Access Microfinance Bank Tanzania was a member of the AccessBank Group, which is composed of microfinance institutions in Sub-Saharan Africa, Central Asia, and South America, who are majority owned by the AccessHolding conglomerate..Currently the bank is owned by Selcom Paytech Tanzania Limited and other minority shareholders who are very strong in the market.
In 2016, the bank served 225,928 savings clients, had 31,798 loan clients, 29 percent of whom were women, and 2 percent of all clients were rural based., the bank's total assets were valued at TSh 207.2 billion, with shareholders' equity of TSh 31.73 billion.

Shareholding

the shareholding in the stock of the bank is illustrated in the table below:
RankName of ownerPercentage ownership
1AccessHolding66.11
2International Finance Corporation13.06
3MicroVest9.04
4KfW6.73
5African Development Bank5.06
Total100.00

1 - "MicroVest is a private, for-profit investment group dedicated to reducing global poverty by applying a commercial framework to investing".
In June 2024, Selcom Tanzania became the majority shareholder and the bank rebranded to reflect the new ownership.
RankName of ownerPercentage ownership
1Selcom Tanzania Limited90.00
2African Development Bank5.06
3Minority shareholders4.94
Total100.00

1 - "Selcom Tanzania is a private, fintech company".

Branches

As of July 2018, ABT maintained branches at the following locations:
  1. Kijitonyama Branch - Derm House, New Bagamoyo Road, Kijitonyama, Dar es Salaam, main branch
  2. Lumumba Branch - Summit Tower, Lumumba Road, Dar es Salaam
  3. Temeke Branch - Temeke Street, Dar es Salaam
  4. Mwanza rh II - Kishimba Building, Pamba Road, Mwanza
  5. Kahama Branch - Isaka Road, Kahama
  6. Tabora Branch - NSSF Building, Jamhuri Road, Tabora
  7. Mbeya Branch - Mbeya
  8. Iringa Branch - Iringa

Governance

Thomas Engelhardt serves as the chairman of the five-person board of directors. The managing director and CEO of the bank is Julius Ruwaichi.