UEM Visits Maendeleo Bank in Tanzania

Last Friday Timo Pauler, Executive Secretary for Finance and Administration and Deputy General Secretary as well as Dr. John W. Kabango, Executive Secretary Africa met together with Dr. Muke Nagaju, head of the UEM regional office in Dar-es-Salaam the management of the Maendeleo Bank in Dar-es-Salaam, Tanzania. UEM holds 19.2 per cent of the micro-credit bank's shares and is the second biggest shareholder of the bank after the Evangelical Lutheran Church in Tanzania which holds a share of 21 per cent. The bank was founded in 2013 and offers a wide product portfolio. That's the reason why individuals as well as church circuits and companies belong to the bank's circle of clients. Up to now the Maendeleo bank is authorized to do business in the metropolis of Dar-es-Salaam, only. The talks between the Tanzanian and German partners dealt with the financial and strategic development of the bank as well as with the plan to extend the business of the bank in a sense of a national bank to the whole country of Tanzania. After the meeting Pauler, Kabango und Muke continued their journey to Goma (DR Congo) where on invitation of the local Baptist Church (CBCA) the UEM regional assembly Africa is taking place. Prior to the meeting Pauler visited the head office of the Eastern Coastal Diocese and the regional office in the Luther House in Dar-es-Salaam, Tanzania. Martina Pauly