Access Bank: Rebranding to redefine Pan-Africanism role in Tanzania’s banking industry
Access Bank Tanzania Limited leadership team, Board members and distinguished Guests at the Brand launch and Logo unveiling event held in Dar es Salaam recently.
What you need to know:
- With its vision of becoming “The world’s most respected African Bank”, this giant African lender is positioning itself as a critical force in driving the continent’s financial evolution.
Dar es Salaam. Access Bank PLC’s ongoing transformation represents a bold step in redefining not only its future, but also the banking industry of Africa, including Tanzania.
With its vision of becoming “The world’s most respected African Bank”, this giant African lender is positioning itself as a critical force in driving the continent’s financial evolution.
Over the past two years, Access Bank has executed two pivotal acquisitions in Tanzania: the acquisition of BancABC Tanzania and Standard Chartered Bank’s retail banking business.
These moves go beyond mere expansion; they are part of a well-defined strategy to become Africa’s gateway to the world.
The official unveiling of Access Bank’s new logo in Tanzania on October 10, 2024, marked the bank’s transformation in the country, signalling its more profound commitment to Tanzanians.
Redefining Tanzania’s banking future
Access Bank Tanzania Limited integration of the new logo is not just a rebranding exercise—it’s a powerful symbol of the bank’s ambition of elevating the banking experience for Tanzanians.
The Bank’s Managing Director, Imani John, and Deputy Managing Director, Dr Hassan Abdullahi, are spearheading this change, overseeing how Access Bank Tanzania Limited is working to support businesses, facilitate innovation in financial services, and drive economic growth across the country.
“The new logo embodies Access Bank’s mission of evolving beyond traditional banking,” said Dr Abdullahi and commented further:
“It reflects a modern approach to banking that is customer-centric, digital-first, and designed to meet the diverse needs of our customers and employees. It’s more than a logo; it signals our commitment to reshape the future of banking in Tanzania. That’s why our new brand promise is... more than banking.”
From left to right; Access Bank Tanzania Limited Managing Director Mr. Imani John, BoT Deputy Governor Ms. Sauda Kassim Msemo, Deputy Minister of Information, Communication and Information Technology Eng. Maryprisca Mahundi, Board Member of Access Bank Tanzania Limited Ms Janeth Lekashingo at the brand launch and logo unveiling event held in Dar es Salaam recently.
Clearing the Air: Access Microfinance vs. Access Bank Tanzania
There has been some confusion regarding the relationship between Access Microfinance Bank and Access Bank Tanzania Limited particularly following Selcom’s acquisition of Access Microfinance.
Mr Imani John clarified the situation, emphasizing that Access Microfinance Bank and Access Bank Tanzania Limited are separate entities with different ownership structures, business models, and market segments.
“Access Microfinance Bank operates in microfinance, focusing on small loans and financial services tailored to low-income earners.
Access Bank Tanzania Limited, on the other hand, is a fully-fledged commercial bank offering everything from retail banking to corporate solutions and trade finance. We are distinct in our operations, and our rebranding only solidifies that difference,” said Mr John.
A Pan-African vision for Tanzania
Access Bank’s vision extends well beyond Tanzania. With operations in 16 countries across Africa and key international markets such as the UK, France, and Hong Kong, Access Bank is poised to lead in facilitating trade and investment across borders. With its strategic location as a hub for East African trade, Tanzania is a key market for this expansion.
“Our presence in Tanzania enables us to connect businesses not only within East Africa but also across the world. We’re creating financial solutions that make it easier for Tanzanian businesses to trade with global partners,” said Mr John and added:
“As global banks retreat from Africa, we are stepping up to fill that gap, ensuring Tanzanian businesses have access to international markets.”
The newly unveiled Access Bank’s logo.
With a customer base of over 66 million across Africa, Access Bank is positioning itself as the continent’s leading trade bank, offering tailored solutions for cross-border trade and investment.
Intra-African trade remains relatively low, but Access Bank’s pan-African strategy aims to unlock this untapped potential.
Digital innovation leading the way
Central to Access Bank’s transformation is its focus on digital innovation. Access Bank’s Internet banking platform, “PRIMUS PLUS,” is an example of this vision in action.
This platform is designed to offer seamless, efficient, and convenient banking services to Tanzanians. It’s part of the bank’s strategy to ensure that they have access to world-class financial services no matter where its customers are.
“Our focus on digital platforms like PRIMUS PLUS is aligned with the global trend towards online banking. We’re providing our customers with a banking experience that is faster, more convenient, and more secure than ever before,” Dr Abdullahi explained.
A strategic acquisition for Tanzania
Among the most transformative moves for Access Bank Tanzania is the ongoing acquisition of Standard Chartered Bank Tanzania’s Retail Banking Business.
Although transactions of this nature are complex in nature, the Deputy Managing Director assured that all regulatory requirements are being fulfilled and the transaction will be completed soon.
Once finalised, this deal will significantly provide the bank’s customers with a wider range of products and services and become part of an African success story.
“This acquisition represents more than just growth for Access Bank. It’s about bringing together Standard Chartered’s global standards with Access Bank’s tenacity and market knowledge to create a bank that serves Tanzania and beyond,” added the Deputy MD.
Access Bank Tanzania Limited Leadership team addressing to staff members in recent Townhall event in Dar es Salaam . (From left Deputy Managing Director Dr. Hassan Abdulahi, Managing Director Mr. Imani John (Centre), and Head of Human Resource Ms. Kindo Marealle (right).
A bright future for Access Bank in Tanzania
As Access Bank continues to redefine itself and reshape Tanzania’s financial sector, the future looks promising. The rebranding, strategic acquisitions, and commitment to digital transformation mark a new chapter for banking in Tanzania.
Customers can look forward to innovative solutions that meet their financial needs and support Tanzania’s broader economic growth.
“We see ourselves as more than just a bank—we are a partner in Tanzania’s development,” he said and added: “Our goal is to help the country achieve its economic ambitions by providing financial solutions that empower individuals, businesses, and communities.”
With its unwavering commitment to innovation, expansion, and a customer-first approach, Access Bank is well on its way to becoming not only Tanzania’s leading bank but also a beacon of Pan-Africanism in the global financial landscape.
