MKCB LAUNCHES RIGHTS ISSUE (Story by Andy Chimazi - Marketing & Relationship Manager)

Mkombozi Commercial Bank Plc has launched a Rights Issue share sale as part of efforts to implement its robust expansion plan. The Rights Issue exercise which will last for one month aims ta raising Tzs.15 Billion by 30th January 2021.

Members of MKCB Board displaying prospectus during the official launch of Rights Issue at New Africa Hotel (Four Points by Sheraton) on 30th December 2020

Speaking during the launch which was held at New Africa Hotel (Four Points by Sheraton); MKCB Board Chairperson, Prof.Marcellina Chijoriga said: “Shares are offered by way of renounceable rights, and new shares are totaling 20,615,272”. She further added that each share will be sold at Tzs.750/= instead of Tzs.1,000/= which is a discount of 25%.

Managing Director of Mkombozi Commercial Bank Plc; Mr. Respige Kimati told the reporters who attended the event that the bank would invest in ICT and other essential banking resources which are vital for the expansion of service delivery to more citizens.


The Managing Director of Mkombozi Commercial Bank Plc speaking with members of the press during the launch of Rights Issue at New Africa Hotel (Four Points by Sheraton)

“When we invest in ICT infrastructure, we will be able to offer agency banking services which can go up to rural areas and the bank will reach more customers and this means that our bank services will be available at many places across the country without using huge cost,” said Mr. Kimati

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Answering questions from members of the Press who wanted to know if everybody is entitled to buy these shares and where will these shares be sold; Prof.Marcelina Chijoriga said “In this Rights Issue exercise the beneficiaries are all MKCB shareholders who appear in the register as of 10.11.2020, and shares will be sold at all Mkombozi Commercial Bank branches as well as Tpb Bank branches”

On his part the Archbishop of Catholic Archdiocese of Dodoma; Most Rev.Beatus Kinyaiya who is one of the MKCB Board members called upon all shareholders to buy these shares timely and in good number to give the bank muscles to expand fast in its digitalization program.

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"Click here to download the rights issue information memorandum"