Dar es Salaam. Coop Bank Tanzania Plc is celebrating its first anniversary, marking a year of rapid expansion and significant contributions to financial inclusion.
Officially launched on April 28, 2025, by President Samia Suluhu Hassan, the bank has focused heavily on underserved sectors, particularly agriculture. Managing director, Godfrey Ng’urah, highlighted the bank's commitment to supporting micro, small, and medium enterprises, cooperatives, and individual customers.
A key differentiator for Coop Bank has been its provision of single-digit lending rates to farmers and agribusinesses, aiming to lower capital costs and boost productivity across the agricultural value chain.
The bank is actively participating in national initiatives like the Building a Better Tomorrow (BBT) Programme and the Mchongo Shambani project, which empower youth and smallholder farmers. It also collaborates with various agricultural trust funds and cooperative unions to enhance access to essential farm inputs.
Operationally, Coop Bank has experienced "cheetah speed" growth. Within its first year, the customer base surged from 5,000 to over 30,000. Its physical footprint expanded from four to seven locations by the end of the first quarter (Q1) 2026, including Dodoma, Tandahimba, and Dar es Salaam.
The bank also strengthened its digital presence, evolving from a single platform to offering integrated services through Coop Net, CooPesa, and Coop Wakala.
Financially, the bank's total assets more than tripled from Sh49.3 billion to Sh176.8 billion between December 2024 and December 2025.
Managing Director of Coop Bank, Mr Godfrey Ng'urah. PHOTO | COURTESY
Customer deposits and the loan portfolio saw similar exponential growth, while profit before tax more than doubled, establishing a solid foundation for sustainable future growth.
