Joint Media Release

Atlas Mara Limited, ABC Holdings Limited and KCB Group Plc sign share purchase agreement for the acquisition of African Banking Corporation Tanzania Limited

Our People, Our Source of Fresh Thinking and Smart Banking

The Bank commenced operations in 1996 as an asset financing institution under the joint ownership of CDC Capital Partners (CDC), International Finance Corporation (IFC), TDFL and the Union Dominions Corporation (UDC).

Following the merger of UDC with First Merchant Bank and BARD Investment Services, and the subsequent re-branding as African Banking Corporation, ABC Holdings Limited (ABCH) listed on the Botswana (primary) and Zimbabwe (secondary) Stock Exchanges.  The Bank in Tanzania was granted full commercial banking status by the Bank of Tanzania in 2002.

In 2004, the ABCH Group successfully concluded the acquisition of a 68% interest in Tanzania Development Finance Company Ltd (TDFL) from the existing international shareholders, i.e. IFC, CDC, DEG, FMO and EIB. The Government of Tanzania has remained a key shareholder (32%) in TDFL. The operations of Capital Finance Limited, the operating arm of TDFL were merged with the Bank.

BancABC operated as a merchant bank since 2002 and introduced retail banking operations in 2008.  The Bank opened its first branch in March 2010 and aims to rollout more branch outlets in various parts of the country.  BancABC now offers a full bouquet of banking services for its corporate and personal customers.

Mission Statement

To build profitable, lifelong customer relationships, through the provision of a wide range of innovative financial products and services, for the benefit of our stakeholders.


To be the preferred banking partner in Africa by offering world-class financial solutions.

Our Values

  • Visible Commitment
  • Inclusive Partnership
  • Demonstrate Courage.
  • Act with Responsibility and Integrity
  • Show respect.


The directors of BancABC are:

Mr. Protase Ishengoma
Mrs. Lucy Sondo
- Non Executive Director
Mr. Rajendra Dave
- Non Executive Director
Mr. Bruce Jonker
- Non Executive Director
Mr. Imani John
- Executive Director/ Managing Director


The bank is driven by entrepreneurial and seasoned bankers who have complimentary banking experience in both the commercial and merchant banking environments. The team consists of professionals from, accounting, economic and financial disciplines. The treasury team possesses extensive experience in the areas of currency trading, derivatives and money and capital markets. Team members also have significant experience in a wide range of areas including financial and corporate restructuring, project finance and other fund raising exercises.

The key members of the team are:

Mr. Imani John Bgoya
Managing Director
Mr. Haroub Kharbush
Head of Finance & Procurement
Mr. Barton Mwasamengo
Head of Global Markets & Treasury
Ms. Joyce Malai
Chief Operating Officer
Mr. Salehe Ramadhani
Head of Credit
Mr. Roger Lamlembe
Head of Banking Operations & IT
Miss Kindo Marealle
Head of Human Capital
Ms. Lilian Musingi
Head of Legal & Company Secretary
Mr. Aron Sondi
Head of Compliance
Mr. Saleh Geva
Head of Risk
Ms. Upendo Nkini Head of Marketing & Communication
Mr. Jeremiah Kilato Senior Manager Internal Audi

Why bank with BancABC?

  • Personalised services
  • Quick turn around time
  • Established track record in investment and advisory services.
  • A range of specialised skills and extensive professional capabilities including financial advisory and analytical, legal, and economic.
  • Specialised economic research capabilities.

A network of useful and necessary contacts to potential strategic investors: both established and newer corporations.

About Tanzania