Mkombozi Commercial Bank

Mkombozi Commercial Bank Plc. is a commercial bank in Tanzania. It is licensed by Bank of Tanzania, the central bank and national banking regulator. Mkombozi is a Swahili word meaning Savior

Overview
The bank is a small commercial bank that focuses on serving the lower social economic classes in Tanzania, along with their small-to-medium enterprises (SMEs). , the bank's total asset valuation was approximately TSh 178.82 billion (US$76.94 million), with shareholder's equity of approximately TSh 23.3 billion (US$10.02 million). The bank made a profit of TSh 806 million (US$346,835), in calendar year 2013.

History
The bank obtained a commercial banking licence from the Bank of Tanzania, the national banking regulator, in July 2009, and opened for business in August 2009.

Ownership
Mkombozi Commercial Bank is owned by Tanzanian Catholic dioceses, parishes, and individuals of all religious persuasions. In order to raise the TSh 7.8 billion (US$5 million) initial share capital, shares were sold to individuals and businesses, in batches of 100 shares at US$0.75 per share. In November 2014, the bank floated its shares of the Dar es Salaam Stock Exchange (DSE), with three main objectives: (a) to raise paid-up capital, above the new statutory minimum of TSh15 billion (US$9 million), before 1 March 2015 (b) to raise funds for expanded lending and (c) to source funding for opening more branches.

Branch Network
, Mkombozi Commercial Bank maintains branches at the following locations:


 * 1) Main Branch - St Joseph's Catholic Church, 40 Mansfield Street, Dar es Salaam
 * 2) Mwanza Branch - Mwanza
 * 3) Msimbazi Branch - Msimbazi, Ilala District, Dar es Salaam
 * 4) Kariakoo Branch - Kariakoo, Dar es Salaam.
 * 5) Moshi Branch - Moshi Town, Kilimanjaro
 * 6) Bukoba Branch - Bukoba Town, Kagera
 * 7) Morogoro Branch - Morogoro Town, Morogoro
 * 8) Tegeta Branch - Tegeta, Dar es Salaam
 * 9) Dodoma Branch - Dodoma City, Dodoma
 * 10) Iringa Branch - Iringa Town, Iringa
 * 11) Njombe Branch - Njombe Town, Njombe.

Governance
The Board of Directors of the bank comprises eight individuals. The Chairman is one of the seven non-Executive Directors. The current Chairperson is Gasper C. Njuu. The current Managing Director is Respige Kimati.