Friday October 19, 2018: Mkombozi Commercial Bank Plc has officially launched its Morogoro Branch which was previously a financial services centre but now has been elevated as a fully-fledged branch.

The launch came barely a week after the bank also launched Its Tegeta branch in Dar es Salaam, which was previously a financial services centre too.

The branch was officially opened by the Morogoro Town District Administrative Secretary Mrs. Ruth John Joseph who was representing the Morogoro Regional Commissioner during an event that was attended by various stakeholders, businesspeople, Mkombozi Bank employees and customers.

While launching the branch, the DAS lauded Mkombozi Commercial Bank for the strides it has made so far and added that experience from other countries shows that small and medium entrepreneurs are important in economic development and poverty alleviation.

“In this case I sincerely commend Mkombozi Commercial Bank Plc for reaching out to these groups of people which some financial institutions view as risky to lend,” he said.

The DAS also said he was impressed by the fact that the bank is offering services to all people regardless of their religion, tribe, and colour as some people are meant to believe that the bank only serves church members

“I know that there are still quite a number of challenges in reaching more Tanzanians and convincing them to use banking services. My plea to the management of Mkombozi Commercial Bank Plc is that you invest more on innovation so as to attract this group of people that require your service but have not been identified yet,” he pointed out.

He also challenged the bank to ensure it is well conversant with the market needs so as to improve its services accordingly so they can go along with the current demand. “Financial literacy is very important so please try to look at this as well,” he said.

On his part, the Mkombozi Commercial Bank Director of Operations, Mr. Sylivester Kasikila who was representing the Managing Director said the bank was established nine years ago and identified itself as a bank with integrity and one that had come with banking services solutions ready to serve all groups of people including small, medium and the high end people with the aim of enabling their initiatives to enable their economic activities.

 “Today the bank is opening doors to the eighth (8) branch which is barely a week since we opened the Tegeta Branch in Dar es Salaam,” he said.

He said the Morogoro Financial Services Centre was established on July 23, 2016 and has had tremendous success within a short period of time hence the bank decided to request the Bank of Tanzania to allow them to upgrade it into a fully-fledged branch. “The bank has been well received by people at all levels in different parts of Morogoro as they have been using our services effectively.”

Speaking during the launch, the Mkombozi Commercial Bank Board member Mr. Marcellino Kayombo who was representing the Board Chairman said the bank has offered various opportunities to the community and nation at large. 

“The bank has offered employment to Tanzanians and it has been paying various taxes to the government. There are 135 employees so far and this includes those from our Morogoro Financial Services Centre, which is today becoming a branch,” he said.

Mkombozi Commercial Bank Plc (MKCB) was founded in 2009 by Roman Catholic Church and its Institutions as a local initiative to support the emerging small medium and large Tanzanian businesses for provision of financial services.

In order to strengthen the financial position of the bank, the founder members floated the shares through DSE to the general public and that makes it a listed public company.