The story
The bank was established in 1995 as First Adili Bancorp, by Tanzanian citizens, together with national pension funds and International financial institutions, including the East African Development Bank, the Swedish International Development Agency and an American merchant bank, Gerald Metals Inc. Today, the main shareholders are Tanzanian pension funds and Tanzanian nationals.
In January 2019, Azania Bank acquired the assets and liabilities of Bank M, a retail commercial bank, which had been under management by Bank of Tanzania since August 2018, on account of "critical liquidity problems" and inability "to meet its obligations".
From Wikipedia’s article on Azania Bank, shared under CC BY-SA 4.0.4