Bank of Africa Tanzania secures US$9.95m capital injection for SMEs

TANZANIA – BANK of Africa Group has injected US$9.95m (TSh22.9bn) new capital to the Bank of Africa Tanzania Limited to unravel the potential of the untapped Small and Medium Enterprises (SMEs), in the country through digital solutions. The Managing Director at the Bank of Africa Tanzania Limited, Mr Joseph Iha said that the unanimous decision to inject new capital was announced by the Group’s Chief Executive Officer, Mr Amine Bouabid at the Board of Directors Meeting recently concluded in Madrid, Spain. “This capital injection is essential for the bank to…

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