BANK OF AFRICA APPOINTS NEW

BOARD OF DIRECTORS CHAIRMAN

The Board of Directors of BANK OF AFRICA TANZANIA LIMITED is pleased

to announce the appointment of Mr. Nehemiah Kyando Mchechu as the
Bank’s new Chairman of the Board, replacing Dr.Nyamajeje Calleb Weggoro
who passed away in November 2021.

Mr. Mchechu is currently the Executive Chairman of Amboni Group of

Companies, a holding company that has investment interests in various
economic sectors such as real estate, agriculture, education and tourism
sector. Prior to that, Mr. Mchechu had served as the Director General of the
National Housing Corporation from March 2010 to June 2018.

Mr. Mchechu boasts a banking experience of over a decade, having worked

with three international banks and one regional bank in various
management roles to the highest-ranking role of Managing Director.

Previously, he also served as a Chairman of Serengeti Breweries Ltd and a

local bank in Tanzania. A Board Member for East Africa Breweries Limited;
Tanzania Mortgage and Refinancing Company (TMRC); DAWASCO;
Tumaini University; Tanzania Investment Center (TIC); CEO Roundtable and
one of the regional bank in Tanzania among other Corporate Institutions.

He therefore, brings to the bank invaluable experience, knowledge and a

unique skills set. His core areas of competence are in leadership,
development, education, banking services, finance, planning and general
management.

The Board of Directors looks forward to Mr. Mchechu’s stewardship in

taking the bank to the next level in accordance to its strategic intents, to
maintain its competitiveness as it continues to excel in its services and
product offerings, in accordance with the Government’s policy of achieving
economic development and financial inclusion in the country.

Board of Directors,
BANK OF AFRICA-TANZANIA