Tanzania's Bank M Goes Bankrupt, Put in Receivership

[kennedy0000]

I'm surprised Geza with his multiple handles has not brought this to our attention.
Bank M - the one that bought 51% of Kenya's second lowest ranked bank 'Oriental', has been put in administration after it became insolvent.

The other day they were boasting that it has ventured outside the country before we shut them up with the salaries paid to top bank CEOs in Kenya.
Yaani, Bank M profit is less than the salary of a top CEO in Kenya.

I pity 'na pesa yetu' country. They don't have a private sector to talk about.

Bank M was the only Tanzanian bank 'operating' in Kenya. Now they are back to zero. Kenya has 7 banks operating in Tanzania.

Regulator takes over TZ lender affiliated to Kenya's M-Oriental

 

[KENPAULITE]

Waaaah the banking system in kenya is only for sharks,the aggressiveness here is crazy

 

[kirk git]

Magifuli - no more doing business with government for banks.


Anti-parasitic measures introduced by magufuli on banking sector.


He only want to see a few strong banks that lend to people and businesses. Not many briefcase banks for money laundering doing business only with governmen!

 

[1academ]

aisee dah poleni sana watz, maana wwngi ss ivi humo wanalia ukata umezidi mtaani....ata sadaka hawatoi sku izi

 

[Emc2]

Are you crazy!!? We have more tha 50 banks. Tunataka benki zinazo fanyakazi za wananchi. Siyo zile za kutegemea treasury bills and bond.
Tunahitaji benki chache zinazofanya kazi kwa faida.
We are rebuilding our country can you please leave us alone!

 

[mwaswast]

Ujamaa hitting Tanzagiza baaad....na usisahau hawajaleta habari za kushuka kwa revenue za acacia....teren teren ni kama ndrama in kama findeo.