The Cooperative Bank of Tanzania (Coop Bank Tanzania) will commence operations with a starting capital of TZS 55 billion, becoming the first bank in the country to be 51% owned by cooperative societies and their members, while the remaining 49% is held by other stakeholders.
This was announced by the Minister for Agriculture, Hon. Hussein Bashe (MP), during the launch of the official registration portal for participants of the bank’s inauguration event, held on April 10, 2025, in Dodoma.
Minister Bashe stated that the official launch of the Cooperative Bank of Tanzania will take place on April 28, 2025, with the Guest of Honour expected to be the President of the United Republic of Tanzania, Her Excellency Dr. Samia Suluhu Hassan. The event will be hosted at the Jakaya Kikwete Convention Centre (JKCC) in Dodoma.
The Minister further noted that Coop Bank Tanzania will begin with four branches located in the regions of Dodoma, Mtwara, Kilimanjaro, and Tabora. The second phase of expansion will include branches in Kagera, Mbeya, Mwanza, Dar es Salaam, and Katavi.
Ahead of the official launch, on April 27, 2025, a series of high-level discussions will take place to strengthen the cooperative movement in Tanzania. The forum will bring together approximately 3,000 participants, including policymakers, public institutions, private sector representatives, cooperative members, development partners, business leaders, and investors, to exchange ideas and experiences on cooperative development.
Through Coop Bank Tanzania, cooperative members will have access to affordable loans, safe savings facilities, and financial literacy programs aimed at supporting both their individual and institutional growth.
Source: Ministry of Agriculture
