Absa bank Tanzania provides payment holiday to its customers

• A three months’ loan repayment holiday,
• For Retail Banking, Business Banking, and Corporate and Investment Banking segments,
• Will not attract additional administration fees for customers.

As Tanzania and the world confront the financial and economic implications of the Covid-19 pandemic, Absa Bank Tanzania has implemented a payment holiday programme to its customers spanning across Retail, Business Banking, and Corporate and Investment Banking segments. 

The comprehensive debt relief programme is a three months’ loan repayment holiday, which comes alongside other efforts initiated by the bank to support its customers amidst covid19 pandemic. The programme, which started in April, is being conducted in full compliance with the Bank of Tanzania regulatory requirements. 

Speaking about the relief programme, the bank’s Managing Director, Mr. Abdi Mohamed, said “We realize that this is a difficult time for many of our customers and businesses whose financial means are being negatively affected. As such, being responsible financial partners we are happy to support our customers and businesses in order to continue to build thriving businesses and a vibrant economy despite the present challenges.

We urge those customers who have not been impacted to continue making their payments as usual. This will enable us to extend this relief programme to many more customers who may have pressing needs. Customers are encouraged to reach out to their Relationship Managers” 

On his part, the Head of Client Experience, Mr. Samuel Mkuyu, said “Our passion for our customers is as strong as ever and our commitment to serve and protect them is unwavering. This is why our services continue to run smoothly even as we adhere with the guidelines and protocols set out by the Ministry of Health. We continue to encourage our customers to use our digital channels which are more efficient and safer given the present time circumstances.