TIB Development Bank, formerly known as Tanzania Investment Bank (TIB), is a government-owned development bank in

Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands ...

. The bank is the first development finance institution established by the

Government of Tanzania The politics of Tanzania takes place in a framework of a unitary presidential democratic republic, whereby the President of Tanzania is both head of state and head of government, and of a multi-party system. Executive power is exercised by the ...

. The activities of TIB are supervised by the

Bank of Tanzania The Bank of Tanzania ( sw, Benki Kuu ya Tanzania) is the central bank of the United Republic of Tanzania. It is responsible for issuing the national currency, the Tanzanian shilling. The bank was established under the Bank of Tanzania Act 196 ...

, the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...

and national banking regulator. TIB is registered as a ''Registered Financial Institution''.

History

The bank was established by Act of

Parliament In modern politics, and history, a parliament is a legislative body of government. Generally, a modern parliament has three functions: representing the electorate, making laws, and overseeing the government via hearings and inquiries. Th ...

in 1970. At that time, the main objective of TIB was to provide "medium and long-term loans to investors in commercial agriculture, manufacturing, processing, construction, transport, tourism and mining sectors". However, due to economic hardships, including a war with

Idi Amin Idi Amin Dada Oumee (, ; 16 August 2003) was a Ugandan military officer and politician who served as the third president of Uganda from 1971 to 1979. He ruled as a military dictator and is considered one of the most brutal despots in modern w ...

of neighboring

Uganda }), is a landlocked country in East Africa. The country is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the south by Tanzania. The sou ...

and foreign currency exchange fluctuations within the

n economy, the bank became unable to service its financial obligations. To mitigate financial losses, TIB resorted to making short-term loans and to function like a commercial bank. The period between 1980 until 2003 was particularly hard on the bank.

Development Financial Institution

Over time, the Tanzanian government, the sole shareholder in TIB, re-capitalized the bank, re-vamped its strategic development plans and re-structured its management. , TIB had a total asset base in excess of TSh 93 billion (US$62 million). The government intends to raise that figure to TSh 400 billion (US$265 million), in the next several years. The bank has a significant portion of its portfolio in the Tanzanian agricultural sector.

Tanzania Investment Bank Group

Following the restructuring of Tanzania Investment Bank, three distinct, but related institutions were formed. The three institutions, together form the Tanzania Investment Bank Group or TIB Group: # TIB Development Bank Limited - A development finance institution (DFI) # TIB Corporate Finance Limited - A short term financing institution, serving large corporate clients, both public and private, in support of the functions of the DFI. # TIB Rasilimali Limited - A registered brokerage company, wholly owned by the

, that purchases and sells corporate bonds on the

Dar es Salaam Stock Exchange The Dar es Salaam Stock Exchange (DSE) is a stock exchange located on Ohio Street, west of Kivukoni, south east of Dar es Salaam, the commercial capital and largest city in Tanzania. It was incorporated in September 1996 and trading started i ...

. Rasilimali also offers investment advice to the Tanzanian government in support of the DFI.

Branches

The bank maintains branches at the following locations: # Dar es Salaam Branch - Building 3, Mlimani City Office Park, Sam Nujoma Road, Dar es Salaam # Mwanza Branch - 3rd Floor, PPF Plaza Building,

Mwanza Mwanza City, also known as Rock City to the residents, is a port city and capital of Mwanza Region on the southern shore of Lake Victoria in north-western Tanzania. With an urban population of 1,182,000 in 2021, it is Tanzania's second largest c ...

# Arusha Branch - Central Plaza Building, Sokoine Road,

Arusha Arusha City is a Tanzanian city and the regional capital of the Arusha Region, with a population of 416,442 plus 323,198 in the surrounding Arusha District Council (2012 census). Located below Mount Meru on the eastern edge of the eastern bran ...

# Mbeya Branch - 28 Jakaranda Street,

Mbeya Mbeya is a city located in south west Tanzania, Africa. Mbeya's urban population is 620,000 according to the 2022 census. Mbeya is the capital of the surrounding rural Mbeya region (population, with Mbeya, totals approx. 2 million). Mbeya is sit ...

# Dodoma Branch - Dodoma # Zanzibar Branch -

Zanzibar Zanzibar (; ; ) is an insular semi-autonomous province which united with Tanganyika in 1964 to form the United Republic of Tanzania. It is an archipelago in the Indian Ocean, off the coast of the mainland, and consists of many small islan ...

References

External links