Equity Bank Tanzania Limited is a commercial bank licensed and regulated by the Bank of Tanzania (BOT). The bank is a subsidiary of Equity Group Holdings Plc, which has other banking subsidiaries in Kenya, Uganda, South Sudan, Rwanda, Democratic Republic of Congo (DRC) and a commercial representative office in Addis Ababa, Ethiopia.
Equity Bank Tanzania Limited is a member of the Tanzania Institute of Bankers.
History and Key Highlights
Equity Tanzania started its operations on 9th February 2012 with two branches; Quality Centre Dar es Salaam and Arusha. It currently operates 15 branches across the country, with 8 in Dar es Salaam and the rest in Arusha, Mwanza, Moshi, Mbeya, Dodoma, Zanzibar and Morogoro with plans to expand further.
Driven by the purpose to transform lives, giving dignity and expanding opportunities for wealth creation, Equity has made strides in investing in financial education for its customers to enhance and encourage savings as well as prudent borrowing. In its transformation journey, the bank has mobilized over 445,097 customer accounts for individuals and businesses.
Equity operates a business model geared towards serving all citizens and businesses inclusively in line with its vision to be the champion of the socio-economic prosperity of the people of Africa. It also remains cognizant of its customers’ evolving needs and preferences, by leveraging technological innovations. Hence, apart from the traditional brick and mortar channels (branches), the bank has adopted more convenient, accessible and affordable alternative channels that include:
- Agency banking with more than 3,162 agency (Wakala) outlets, a key in pioneering financial inclusion since 2013 when it was licensed in Tanzania. The bank has plans to expand its footprint through partnerships with more traders who include shopkeepers and small business owners to reach and serve more clients.
- Mobile Banking - Eazzy 24/7 dial *150*07# and EazzyBanking App. Customers have access to their accounts and make transfers anywhere, anytime by just using their phone.
- 1,260 signed up merchants (POS) where customers shop, pay and withdraw cash in leading retail outlets.
- Online channels such as; EazzyNet for individuals, EazzyGroup for Chamas and SACCOS as well as EazzyBiz for corporates.
- 22 Visa-branded ATMs strategically located to ease access to cash and make deposits.
Awards and Recognition
Equity Bank’s business model continues to earn local, regional and global accolades and recognition.
- VISA Awards 2019: The Bank was recognised as the Top Acquirer Bank in Tanzania
- Euromoney Awards for Excellence 2019: Africa’s Best Digital Bank
- Global Banking and Finance Awards 2018: Best Agency Bank in Tanzania.
- SWIFTAward 2018: Straight through Processing Excellence (USD payments) by Citi Bank
- Global IFC Awards in 2018 and 2019: SME Finance Award in the Platinum Category of SME Bank of the Year – Africa, at the Prestigious IFC Global SME Finance Awards, held in the Netherlands.
- African Banker Awards 2018: The Bank was also recognised as the African Bank of the Year
- African Banker Awards 2017: Africa’s Best Retail Bank
- Euromoney Awards for Excellence in 2016: Africa’s Best Bank for SMEs
- Banker Africa (East Africa) Awards: Best Retail Bank in East Africa
- Africa Banker Africa (East Africa) Awards 2015: Most Innovative bank for the adoption of technology in expanding its service offering
- African Banker Awards 2012:Most Innovative Bank
Equity remains committed to its strategic objective of expanding its footprint in Africa as part of its strategy to become sub-Saharan Africa’s premier financial institution.