Co-operative Bank of Tanzania reports strong growth after first year
In its latest report, the lender said it had onboarded more than 150,000 individual customers and 450 Savings and Credit co-operative Organisations [SACCOs], while disbursing over TSh120 billion [US$ 46 million, £34 million] in loans, mainly to the SME and agricultural sectors
DODOMA, May 10, 2026 — The Co-operative Bank of Tanzania, which launched last April, has marked its first year of operations by reporting strong growth in customer numbers.
In its latest report, the lender said it had onboarded more than 150,000 individual customers and 450 Savings and Credit co-operative Organisations [SACCOs], while disbursing over TSh120 billion [US$ 46 million, £34 million] in loans, mainly to the SME and agricultural sectors.
Total assets have grown by 40 percent since the bank’s initial capitalisation in the second quarter of 2025.
In terms of digital adoption, 70 percent of all transactions are now conducted through the bank’s mobile platform, M-Coop Cash Tanzania.
The bank — a subsidiary of the Co-operative Bank of Kenya — said the development would deepen financial inclusion across the country.
Since its launch in April 2025, the bank said it had positioned itself as a key player in Tanzania’s financial sector, with a focus on empowering the national co-operative movement, which comprises thousands of saccos.
By providing customised credit facilities and digital banking solutions to these grassroots organisations, the bank said it had reached underbanked populations in both urban and rural areas.
It added that it had exceeded growth projections by leveraging its co-operative values of communal ownership and profit-sharing.
The bank has established a network of branches in major economic hubs, including Dar es Salaam, Arusha and Mwanza, while also using agent banking services to reach underserved regions in the country’s interior.
Specialised products have also been introduced for women-led enterprises and youth start-ups, sectors that have traditionally faced significant barriers to accessing formal banking services.
The bank is also working to support cross-border transactions for Kenyan and Tanzanian traders as part of its broader strategy to become a Pan-African financial institution.
Its next phase of growth will involve expanding into the Zanzibar archipelago and strengthening ties with Tanzanian agricultural unions.
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