Quipbank Trust Limited, East Africa’s equipment bank, has opened a new branch in Biharamulo Tanzania as it strengthens regional presence in line with its expansion plan. This new entry will entail strategic partnerships and service diversification through technology to meet the growing demand.
Currently, the equipment bank has branches in various parts of Kenya and Uganda, and is set to spread its wings to other countries across Africa such as DRC and Zambia.
The firm which recently was ranked as best in construction and infrastructure by KMPG Kenya in its annual top 100 midsized companies’ awards, offers vehicles and equipment rental and sales options. It specializes in mining and construction equipment, agricultural equipment, automotive, trucks and trailers.
In the first phase of its operations, the firm has equipped the branch with machinery worth at least Tsh. 10,555,302,670.00 (KES 500 million) specifically to support the Biharamulo gold mine.
Quipbank’s Regional Head of Sales & Marketing, Mr. Ivaney Turyasingura, said, “This branch will supplement the operations of our other branches in Mwanza, Tanga and Dar Es Salaam. The branch will avail services close to the key mining areas in Kagera Region. Plans are underway to open more branches in other regions where we have not opened offices yet. Our equipment are currently working in a number of Tanzanian mines. The country is dynamic and East Africa’s largest market with lots of opportunities backed bright outlook for sustained growth.”
Speaking while visiting the Biharamulo branch, Mr. Turyasungura said, “this branch will help in supporting contractors and small scale traders in the region to access at least 50 different types of equipment ranging from construction, farming and mining equipment among others. Construction companies and related industries can take advantage of the availability of the various variety of machineries such as excavators and a wheel loader to speed up the development in Kagera region. This will be very instrumental to us in realizing our goal of in contribution to construction and development of infrastructures in the region.”
“The demand for equipment in Tanzania has really grown and hence the need to move closer to the mining sites and reduce time and distance for searching for these equipment. Sometimes getting a proper equipment to perform a specific task can be such a hustle and resource consuming. Our main aim is to significantly reduce the cost of running business by easing access to machinery in addition to providing experienced technical support,” he added.