Azania Bank Plc and Tanzania Buildings Agency (TBA) have signed a Memorandum of Understanding (MOU) aimed at expanding access to home ownership by enabling Tanzanians to finance the purchase of TBA-developed residential properties through Azania Bank’s Mortgage Financing product.
The agreement was signed by Mr. Yahaya Mbanka – Azania Bank’s Director of Business Development and Arch. Daud W. Kondoro- the Chief Executive Officer of Tanzania Buildings Agency during a press conference attended by senior officials from both institutions and members of the media.
Through this strategic partnership, prospective homeowners will have access to affordable mortgage financing from Azania Bank, with flexible terms and repayment periods of up to 25 years, making home ownership more accessible to a wider segment of Tanzanians.
Speaking during the signing ceremony, Mr. Yahaya Mbanka – Azania Bank’s Director of Business Development said the partnership reflects the Bank’s continued commitment to supporting the Government’s efforts to increase access to quality and affordable housing.
“This partnership is more than an agreement between two institutions. It is a significant step towards enabling more Tanzanians to achieve their dream of owning a home through accessible and customer-focused financial solutions. At Azania Bank, we believe banking should transform lives and contribute meaningfully to national development,” said Mr. Mbanka.
He further noted that Azania Bank will continue providing professional financial advisory services and innovative mortgage solutions to customers while developing products that respond to the evolving needs of individuals, families, and businesses across the country.
Speaking on behalf of Tanzania Buildings Agency Arch. Daud W. Kondoro – Chief Executive Officer said the partnership will make it easier for Tanzanians to own homes while enhancing the successful implementation of TBA’s housing development projects.
The collaboration will commence with TBA’s residential housing project in Masaki, Dar es Salaam, which will comprise a total of 370 housing units, with the first phase delivering 116 units. Both institutions expressed their commitment to extending the partnership to future TBA housing developments across the country.
Azania Bank continues to strengthen its position as a trusted development partner by delivering innovative financial solutions that promote home ownership, investment, business growth, and Tanzania’s broader economic development.
