The Managing Director of the Cooperative Bank of Tanzania (CBT), Godfrey Ng'urah, has said that the Cooperative Bank is now in the market and will be a leading bank in providing excellent digital banking services and accelerating the integration of banking and financial services.

The CBT Director said this on January 29, 2025 at a meeting with Editors and Journalists held in Dodoma.

The meeting aimed to inform the public about the Vision, Mission and Values of the Cooperative Bank for the five-year period from 2025 to 2030.

"Dear journalists, I would like to inform the public; our Cooperative Bank has already started operating and will be a leading bank in providing the best digital banking services and reaching many Tanzanians at once, easily, quickly and at low cost," said Ng'urah.

In addition, he said that in ensuring that the Vision, Mission and Objectives of the Cooperative Bank are implemented, it will work closely with the Tanzania Cooperative Development Commission (TCDC) to ensure that it rapidly promotes the integration of banking and financial services and reaches more Cooperative Members.

Ng'urah said that the Cooperative Bank is currently owned by Cooperatives as the main investors along with Cooperative Societies (51%). The Cooperative Bank has now started operating with three branches which are Tandahimba, Moshi, and Dodoma.

Expressing his gratitude on behalf of the Government, the Registrar and Chief Executive Officer of TCDC, who was the official guest, Dr. Benson Ndiege, called on Cooperative Societies in the country to continue investing in the Cooperative Bank so that they can be part of the beneficiaries of the Bank's investments.

In addition, Dr. Ndiege has congratulated the President of the United Republic of Tanzania, Hon. Dr. Samia Suluhu Hassan for ensuring that the Cooperative Bank is established by providing a capital of five billion and urged Tanzanians in all economic sectors; Agriculture, Fisheries, Trade, Mining, Animal Husbandry, and all groups to open an account at the Cooperative Bank and benefit from excellent services including low-interest loans.

And the Chairman of the Board of the Cooperative Bank, Prof. Gervas Machimu, said the Board is proud of the great achievements including the increase in capital, better financial services and the provision of low-interest loans.

He also said that the Board will ensure that it maintains secure operational systems and manages Integrity and Accountability using modern technologies.