Human Resource Management in Multinational Banks in Tanzania

1094 words 5 pages
United Republic Of Tanzania is a developing country, located in East Africa. Tanzania has high level of unemployment, poverty, and a weak national institutional system. After independence in 1961 till 2000, the country had little influence on the business activities of foreign investments and was passing through transformation from its socialist policies to a market economy.
Towards the end of 1980’s, however, the views of “African socialism or Ujama” began to experience a series of extremely hard internal and external economic shocks. Internally, the Ujama system could not work effectively to alleviate the levels of poverty. Bureaucratic inefficiencies, lack of responsibility and weak performance of collective farms and factories and the
…show more content…

Although local employees were encouraged to contribute ideas, they were not given the autonomy to make collective decisions. Joining trade unions was not permitted by Government. As each branches had fewer than 100 employees, incase of conflict, bargaining and work related issues were dealt through direct individual consultation with HR department.

Standard Bank Ltd. in Tanzania:

Standard Bank had business operations in Dar Es Salaam, Mwanza and Arusha of Tanzania. Like Citibank, it did not provide financial services to local customers. Mission of the bank was to offer guidance and expertise in the financial industry for its customers’ needs. It offered a range of commercial banking products, treasury markets, credit and foreign currency transfers to customers in the private sector.
Strategic management and business activities in the host nation, including HR functions, were directly controlled from the head office in Johannesburg before being passed to the country head office in Dar Es Salaam. The bank had two branches in Dar Es Salaam, one in Arusha and one in Mwanza. An integrated organizational system is present in and across the bank head office and branch offices. The atmosphere of work was very relaxed. During tea and lunch breaks, employees mingled with their employers in common lounges. All common lounges had local TV channels, which


  • Development and Globalisation
    7711 words | 31 pages
  • Strategic Role of Logistics in Kazakhstan
    21079 words | 85 pages