Tanzania: Bank of Tanzania Approves Appointment of Boa Board Chairman

Chairman of board of directors and non-executive director of Bank of Africa, Dr. Nyamajeje Calleb Weggoro.

Summary

• The Bank however, said that vetting is a continuous process and that the approval is subject to him continuing to be fit and proper person during the tenure of his appointment.

By The Citizen Reporter

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Dar es Salaam — Bank of Tanzania has approved the appointment of Dr. Nyamajeje Calleb Weggoro as chairman of board of directors and non-executive director of Bank of Africa, Tanzania, the regulator has said.

"Please be informed that the Bank of Tanzania has no objection to the appointment of Dr. Nyamajeje Calleb Weggoro as a Chairman and Non-Executive Director of Bank of Africa (T) Limited," the bank wrote in response.

The Bank however, said that vetting is a continuous process and that the approval is subject to him continuing to be fit and proper person during the tenure of his appointment.

Apart from Tanzania, Bank of Africa is established in 18 countries, with Eight BOA banks in West Africa in countries such as Benin, Burkina Faso, Côte d'Ivoire, Ghana, Mali, Niger, Togo and Senegal.

BOA also has a strong presence in East Africa and the Indian Ocean with establishments in Burundi, Djibouti, Ethiopia, Kenya, Madagascar, DRC, Rwanda and Uganda

Since 2010, the Bank of Africa Group has been majority-owned by BMCE Bank, the second largest private bank in Morocco.