COOP Bank Tanzania Reports Strong Growth in First Year of Operation

COOP Bank Tanzania has announced remarkable success in its inaugural year of operation, significantly exceeding initial expectations. Established on April 28, 2025, through the merger of Kilimanjaro Co-operative Bank Limited and Tandahimba Co-operative Bank Limited, the bank aimed to create a robust cooperative financial institution serving both the cooperative sector and the broader market.

During its second general meeting in Dodoma on July 28, 2026, COOP Bank presented its performance figures. The bank's assets have surged to Sh176.8 billion, with deposits climbing to Sh114.5 billion and loans disbursed amounting to Sh101.8 billion. These figures underscore the bank's rapid growth and strong market reception since its inception.

Dr. Joseph Witts, Chairman of the Board of Directors, attributed the bank's swift success to its core operating principles: transparency, accountability, discipline, integrity, adherence to laws, and robust risk management. He noted that the positive response from the public and the confidence of shareholders have been instrumental in surpassing their set goals.

Dr. Witts further explained that 2025 was crucial for institutional transition, laying the groundwork for the bank to operate as a corporate entity while maintaining its commitment to the cooperative sector. The bank's structure ensures that cooperative members remain majority shareholders (51%), with government, CRDB Bank, and other private entities contributing to capital, governance, and growth. This model balances shareholder interests with institutional sustainability, the cooperative sector's needs, and the national agenda for financial inclusion.

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For that structure, it gives the bank a responsibility to ensure that its growth goes hand in hand with the protection of shareholders' interests, the sustainability of the institution, the needs of the cooperative sector, and the national agenda for increasing financial inclusion.