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Badilisha Lugha KISWAHILI

Stan Chart banker praises plan for Bagamoyo port

6th April 2013
Head of Consumer Banking of the Standard Chartered Bank for Africa region,Kariuki Ngari .

Head of Consumer Banking of the Standard Chartered Bank for Africa region said the proposed Bagamoyo port would facilitate interregional trade links within East and Central African region.

Kariuki Ngari told The Guardian on Sunday in an exclusive that the government’s plan to expand the port along the coastline would also boost the growth of the country’s economy.
Noting that the port would be an international gateway for import and exports, Ngari said with recent discoveries of gas and oil Tanzania needs strong plans to benefit from its underground natural wealth.
He advised the government to put in place its development strategies as the wealth is likely to make the country a leader in the East Africa region in terms of economic growth.
At present Kenya, with little natural wealth, is the leading economy in the region.  Tanzania ranks second despite its numerous unexplored wealth. Uganda, Rwanda and Burundi rank third, fourth and fifth respectively.
A Kenyan, Kariuki said that Tanzania has enough resources to make it grow at faster pace if well planned and properly utilised.
The banker is in the country for a three-day familiarisation tour following his appointment on April 1 to head consumer banking in the Africa region. Before his present position, he was Executive Director, Consumer Banking East Africa region.
His new appointment will make him lead the consumer banking strategy for the bank and its implementation in Africa, capturing growth opportunities and introducing innovative strategies.
He joined the bank in 2009 from Barclays where he was Director of Consumer banking and prior to that, he was Head of Retail Performance. 
Also he had worked for the Standard Chartered Bank Kenya Ltd in various capacities before he left for Barclays in 2001.
He is the first African to head such high ranking position in the bank that entails consumer banking business for Africa. 
His inspiration has shown the growing strength and depth of talent in Africa, said Anne Mutahi chairperson of the Standard Chartered Bank Kenya
According to her Ngari possesses experience in sales and performance management with ‘proven track record of driving change and delivering exceptional business results in challenging and dynamic business environment.’


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