Stanbic Bank top man announces own departure

The managing director of Stanbic Bank Tanzania, Mr Bashir Awale, addresses journalists at a past event. The seasoned banker has announced his departure from the bank. PHOTO | FILE 

By The Citizen Reporter  (email the author)

Posted  Tuesday, May 28  2013 at  23:05

In Summary

• In the time that he has spent with Stanbic Tanzania he has been able to transform it from an ailing loss making entity to that of a profit making bank which is now in the list of the top four in the country.

Dar es Salaam. The managing director of Stanbic Bank Tanzania, Mr Bashir Awale, has announced his departure as he takes a new position in the bank next month.

Mr Awale, who has been working as the chief executive for the last 7 and half years, will be taking a new position as the Regional Investment Bank Executive for East Africa as well as Ethiopia and South Sudan. He ends his tenure at the bank on Friday, this year and will be taking his new position starting 1 July.

Mr Awale has had an illustrious career in the banking industry having structured deals from CitiBank before joining Stanbic where he is known for structuring various deals with companies such as Vodacom, Celtel (now known as Airtel), Tanesco and the latest landmark deals with the government of Tanzania.

In the time that he has spent with Stanbic Tanzania he has been able to transform it from an ailing loss making entity to that of a profit making bank which is now in the list of the top four in the country. He has also managed to streamline the workforce to that of young energetic and motivated team that has managed to transform the brand and reputation of the bank to an institution of excellence and innovation.

In his new role he is expected to use his knowledge and expertise within the East African region.

“It’s touching for me to leave the bank and the country which has been my home for nearly two decades, but I feel excited that my expertise will be used for impact in more countries. I will still be able to assist the bank and Tanzania as it will be one of the countries within my region even though I will be based in Nairobi,” Mr Awale said.