ACA 4,840     CRDB 150     DCB 340     DSE 1,680     EABL 3,760     JHL 9,450     KA 230     KCB 850     MBP 510     MCB 500     MKCB 800     MUCOBA 400     NICO 295     NMB 2,750     NMG 1,560     PAL 400     SWALA 425     SWIS 2,660     TBL 12,900     TCC 17,000     TCCL 700     TICL 450     TOL 660     TPCC 2,060     TTP 120     USL 15     VODA 800     YETU 600     

MKOMBOZI COMMERCIAL BANK IPO

                                                                                                              
 
 
                                COMPANY & BUSINESSES
Sector                                                                                    Banking
Proposed Exchange                                                               Enterprise Growth Market - DSE (Tanzania)
Shares Expected after the IPO                                                21,838,452
Shares Offered for sale                                                           5,000,000
IPO Price per share                                                                1,000
Offer Opens                                                                            Monday, November 03, 2014
Offer Closes                                                                           Saturday, November 29, 2014
Date to be listed at DSE                                                          Monday, December 22, 2014
 
 
Mkombozi Commercial Bank Plc. (MKCB) is a limited company incorporated under the Companies Act R.E 2002, with Certificate of Incorporation dated 6th  March 2007. The bank was granted banking license by the Bank of Tanzania as a full-fledged commercial bank on 18th July 2009 and started banking business on 28th August 2009. Although MKCB is licensed to provide all commercial banking services its target markets are small and medium sized entrepreneurs; companies; SACCOS; social enterprises such as schools and universities; and Corporations. MKCB serves the needs of growing companies, middle-market and large corporations, institutional investors, financial institutions and government entities
 
The company provides investment  opportunity  to investors to  gain  in  exposure  of  highly prospective and competitive banking sector in Tanzania. The marketing strategies of the company will increase market coverage in the country as to date it has four branches which are Kariakoo, Msimbazi, Mwanza and St Joseph, there are other new branches which are in the progress.
 
The bank is focusing on its vision and mission, especially following these new developments and challenging environment. Accordingly, Mkombozi Bank is prioritizing its efforts in a number of areas to expand the bank’s revenue base and increase its assets and market outreach. These areas include the establishment of agency banking; intensification of micro lending activities; intensification of corporate lending activities;continuation  of  advancing  salary  loans;  increase  in  the  mobilization  of  deposits;establishment of two new branches; and increase of total assets.

 
 FINANCIALS
In the fiscal  year  2013, the company’s net  income was  119 million which Higher  than the previous year of 2012.
 
 
 
 

TZS  "000"                                         2011             2012               2013  2014 E
Interest Income                            2,988,097      4,555,302        7,539,066 12,198,260
(3,426,020)
1,743,396
 
25,646,465
46,812,415
 
88,748,734
113,085,030
22,104,011
79.831
Interest Expenses                          (989,801)    (1,624,073)      (2,367,444)
Net Income /(Loss) for the           37,406     (716,709)          119,019 year
Loans and Advances to Banks       10,915,575      9,677,927      16,691,028
Loans and Advances to                11,555,634     16,694,000      28,889,679
Customers
Deposits                                     21,923,374     28,300,036      49,780,083
Total Assets                             33,644,726  40,155,521    64,023,179
Total Equity                               9,261,837     9,396,959    11,505,718
Earnings Per Share - TZS                     0.010          (0.065)              0.003