APPOINTMENT OFDEPUTY MANAGING DIRECTOR Mr. JAFFER S. MACHANO

The TIB Development Bank Limited (TIB) is pleased to inform the General Public that the Board of Directors of TIB has appointed Mr. Jaer S. Machano to be the Deputy Managing Director of the TIB Development Bank Limited with eect from 1st April, 2015. The Deputy Managing Director will be managing the business activities of the bank and; will be responsible for developing business, overseeing long and medium term investment based products, agency funds, advisory services, research and related development nancing activities. Mr. Machano will be reporting to the Managing Director.

Before this appointment, Mr. Machano was the Director of Strategic Planning and Corporate Aairs at TIB, the position he was holding since October 2010 when he joined the bank. Prior to joining TIB, Mr. Machano worked for Barclays Bank, Federal Reserve Bank of New York, Citibank, and the United Nations in New York and Asia. Mr. Machano holds Board positions in dierent institutions in Tanzania.

Mr. Machano holds a Masters Degree in International Economics and Policy from Columbia University in the United States of America and Bachelor Degree in Finance and Accounting from Bishops University in Quebec, Canada. He is a Certied Financial Risk Manager (FRM) and a member of Global Association of Risk Professional (GARP).

On behalf of Management and the Board of Directors of TIB Development Bank Limited, I take this opportunity to congratulate Mr. Machano on his appointment.

Prof. William M. Lyakurwa

CHAIRMAN OF THE BOARD

PRESS RELEASE

Dar es Salaam, 3rd August, 2015

Mlimani City Oce Park, Block No. 3, 1st oor, Sam Nujoma Road, P.O Box 9373, Dar es Salaam.

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