President Dr. Samia Suluhu Hassan is expected to launch the Cooperative Bank of Tanzania (Coop Bank Tanzania), a strategic initiative aimed at reviving collapsed community banks across the country.
Speaking to journalists on April 10, 2025, in Dodoma, the Minister for Agriculture, Hon. Hussein Bashe (MP), said the Ministry received directives from President Dr. Samia to ensure the revival of defunct community banks. As part of the initial phase, the Cooperative Bank will be officially launched on April 28-2025.
According to Minister Bashe, the bank will open with four branches located in Dodoma, Mtwara, Kilimanjaro, and Tabora.
“The second phase will see the expansion of branches to Kagera, Mwanza, Dar es Salaam, Mbeya, and Katavi,” he added.
He noted that training for bank agents is currently underway, and in addition to physical branches, Coop Bank will be supported by a wide network of agents throughout the country. The launch will be preceded by a National Cooperative Forum on April 27.
Minister Bashe emphasized that this move is a direct instruction from President Dr. Samia to the Ministry of Agriculture.
“Many cooperative banks have collapsed over the years, and President Dr. Samia has recognized the need to restore them in order to boost economic growth, particularly for farming communities,” said Bashe.
He stressed that the main objective is to provide farmers and communities with access to banks that understand and serve their unique financial needs, unlike many commercial banks.
Source: Ministry of Agriculture
