Coop Bank targets Sh300 billion in JUHUDI savings drive
Co-operative Bank Tanzania’s head of business and co-operative banking, Mr Yahya Kiyabo, speaks in Dodoma on Tuesday, February 24, 2026, during the launch of the JUHUDI fixed deposit product. PHOTO | KATARE MBASHIRU
By Katare Mbashiru
Dodoma. Co-operative Bank Tanzania (Coop Bank) has launched a new fixed deposit product, JUHUDI, aiming to mobilise more than Sh300 billion within three months.
The launch, held at the bank’s headquarters in Dodoma on Tuesday, February 24, 2026, marks the start of an intensive deposit mobilisation campaign designed to strengthen long-term savings and boost financing for small and medium-sized enterprises (SMEs) nationwide.
Speaking at the event, the bank’s head of business and co-operative banking, Mr Yahya Kiyabo, said the JUHUDI account offers an annual interest rate of up to 13.5 percent.
He added that the product allows customers to select flexible investment tenures tailored to their cash flow and financial objectives.
“The account requires a minimum deposit of Sh500,000, making it accessible to individuals, retirees, salaried employees, entrepreneurs, companies, private and public institutions, as well as investors seeking secure and competitive returns,” said Mr Kiyabo.
According to him, JUHUDI has been strategically designed to deepen financial inclusion while strengthening the bank’s liquidity position, a move expected to expand lending capacity across the country.
“JUHUDI demonstrates our commitment to delivering innovative, secure, and rewarding financial solutions to our members and customers. By mobilising stable deposits through this product, we enhance our capacity to sustainably finance and transform the MSME (Micro, Small and Medium Enterprises) sector, thereby driving inclusive economic growth,” he said.
Mr Kiyabo added that the bank will continue reinforcing its liquidity base to widen access to credit for small and medium entrepreneurs, who remain a vital pillar of the national economy.
The bank’s treasurer, Mr Hakim Sheikh, urged individual and institutional investors, co-operative societies, SACCOS, and the public to seize the opportunity, noting that prudent investment decisions made today lay the foundation for long-term financial stability.
“We want our customers to begin earning returns within as little as three months, six months, or longer, depending on their chosen tenure,” he said.
With the introduction of JUHUDI, Coop Bank advances its 2026 growth strategy, placing strong emphasis on mobilising long-term savings and consolidating its position within Tanzania’s financial services sector.
