Eurafrican Bank renamed

EURAFRICAN Bank (T) Limited has been renamed BOA Bank Tanzania Limited, it was announced in Dar es Salaam yesterday.

BOA Bank chairman Fulgence Kazaura said the change of the name following Bank of Africa Kenya Ltd, AUREOS East Africa Fund LLP (AEAF) and Belgian Investment Company for developing countries (BIO) to acquire shares of Bangue Belgolaise of Belgium in Eurafrican.

“All shares in the bank held by Belgolaise were vividly transferred to the three parties to give them controlling majority stake in the bank after the capital restructuring,” Mr Kazaura said.

He said Bank of Africa Kenya Limited is part of the Bank of Africa Group.

Speaking at the same occasion, the Chairman and Chief Executive Officer (CEO), Mr Paul Derremaux said BOA Bank focuses on a wide range of banking products.

“We also look at growth and productivity,” Mr Derremaux said, adding that modernity, safety, good governance and effectiveness will be given priorities.

Earlier, the BOA Bank Managing Director, Mr Kobby Andah assured customers that the change would have not affect continuity of services to all clients.

“The management and members of staff have not changed,” he said, noting under Bank of Africa Group, BOA Bank will enhance regional trade.

Mr Kobby said the bank would continue with its committed support to the growth and development of Small and Medium Enterprises (SMEs).

The Group operates through a network of commercial banks in ten countries and it has a workforce of 1,776.

SOURCE: DAILY NEWS