Bank’s Chief Executive Officer, Cosmas Kimario told reporters shortly after the opening ceremony that the new branch was necessary to serve the growing number of customers in the area.
"At present, the bank is serving lots of customers from this area of Kariakoo hence our decision to open the branch. Our main business here will be the provision of credit to SMEs as well as dealing in foreign currency and money transfer abroad,” Kimario said
He pointed out that Twiga Bancorp’s role will also be to enable the business community improve their businesses through loan disbursement.
“Twiga Bancorp has been a friend of the business community such that our bank's management and operating structure are geared at making quick decisions to meet private sector goals,” he said.
Twiga Bancorp and its new management have developed a five year strategic plan aimed at transforming the bank into a middle sized commercial bank operating profitably by 2020.
The bank’s performance has improved since January 2015 when shareholder and Ministry of Finance backed by the board of directors took a bold decision in December 2014 to change its organization structure and replace its management team.
Twiga Bancorp is a member of Umoja Switch ATM, where customers can withdraw cash at any Umoja Switch ATM in Tanzania, and is an agent for Moneygram International.