Altemius Millinga - Managing Director
It’s my pleasure and privilege to introduce YETU Microfinance Bank PLC, a bank dedicated to provide financial services to the unbanked and under banked people of Tanzania. Yetu Microfinance Bank PLC was born out of the transformation of Youth Self Employment Foundation (YOSEFO), an NGO which was established in 1997 and successfully managed microfinance business on a sustainable basis. Yetu Microfinance Bank PLC started operations on October 1, 2014 and was fully licensed as a Microfinance Bank PLC on February 20th, 2017. Prior to that the then Yetu Microfinance Limited issued an Initial Public Offering (IPO) in June 2015 the success of the IPO saw the bank get listed at the Dar es Salaam Stock Exchange (DSE) on March 10th, 2016. YOSEFO is a major shareholder of bank whiles 84% of shares of the company are owned by Tanzania’s small investors. The bank provide services in seven regions of Mainland Tanzania and the entire island of Zanzibar. Services are offered through three branches and 18 outlets and mobile banking.
Yetu Microfinance Bank PLC is known for its unique and distinct way of creating a conducive banking environment, where the expectations of our stakeholders, customers and employees can be fulfilled. We are known for helping our customers to achieve success in economic, financial security and making the world a better place to live in. All these, we are able to achieve by creating a platform where our employees can learn, grow and be fulfilled in their work. In return, they give their all in making our community – which is the globe, a better place to live. As a bank, our strength lies in the team’s ability and commitment serve the unbanked and underbanked Tanzanians in rural and urban areas of Tanzania.
The banking and financial sector is currently undergoing great transformation due to technological innovation in the telecommunication industry. Yetu Microfinance Bank PLC has fully taken on-board technology as a tool for financial inclusion. Through technology we are able to serve rural communities and low income people who are not comfortable in reading and writing. Technologies we have embraced so far include mobile banking, ATM, POS for account opening, Digital loans and Bio-metric teller system.
We, at Yetu, are very excited to be part of this great initiative and transformation that Tanzania’s banking and financial sector is undergoing and thanks to our partners, we are committed to make the single largest contribution in this exciting journey. YETU which is a Swahili word means: it is ours, it is yours too.