Bank of Africa Tanzania has made it into a final stage of Online Asset and Liability Management competition. The global competition seeks to track best-practice balance sheet management and capital planning.
Bank of Africa Tanzania
The bank’s head of Treasury Department, Mr Bruno Ngooh said in Dar es Salaam that Bank of Africa Tanzania is among four banks that are competing in the second phase of the 6th Online Asset and Liability Management (ALM) Competition. “We have succeeded to take part in the second phase of the competition…we are proud to reach this stage,” he said.
Mr. Ngooh who is among four people representing the bank in the competition mentioned other qualifying banks in the second phase as Real People from Nigeria, Softlogic Finance from Sir Lanka and a Latin American based bank, CIFI.
The overall winner will be announced in Cologne, Germany on 6th June where four people team from the bank will also be present as part of finalizing the second phase which started on 15th May this year. There will also be a prize for the bank that managed risks optimally.
The first phase started on 20th February this year up to 3rd May, this year with a total of 25 banks from Asia, South America, Africa and East Europe. Some of the banks in Tanzania also participated in the competition but did not manage to go through the second phase.
The Online Asset and Liability Management Competition sponsored by German Development Corporation (DEG), Dutch Development bank, Proparco and SimArch is conducted on an international basis via the internet.
The main objectives with this online competition are to enhance the skills of personnel active in the asset and liability management function in banks and financial institutions and to offer alternative ways and opportunities to learn more about banking and financial services industry.
It also seeks to create opportunities for the exchange of experience, ideas and networking among banking personnel internationally and to strengthen the overall practice of risk management in financial institutions.
Since it started operations in the country in 2007, the bank has managed to open ten branches in Dar es Salaam and seven branches in Morogoro, Kahama, Tunduma, Mwanza, Moshi, Mbeya and Arusha. Bank of Africa Tanzania is a part of a Pan African bank called Bank of Africa Group.
Source Tanzania Daily News
