Coop Bank affirms its role in advancing Tanzania’s agribusiness

DAR ES SALAAM: THE Cooperative Bank (Coop Bank) has continued to strengthen its strategy to promote inclusive economic growth by increasing lending to the agricultural sector, a move aimed at boosting farmers’ productivity and stimulating national output.

Speaking in Dar es Salaam today, April 30p, 2026, the bank’s Chief Executive Officer, Godfrey Ng’urah, said the institution is positioning itself as a key partner in advancing the agriculture sector by expanding financial services to underserved populations.

He noted that within one year since the bank’s establishment, its performance has been driven by the effective implementation of a medium-term strategy that has strengthened service delivery and increased customer confidence.

According to first-quarter 2026 data, the bank’s loan book grew significantly to  101.02bn/-, up from  16.6bn/- in the previous year, representing a 506 percent increase. This growth reflects an expansion of credit across multiple sectors of the economy.

ALSO READ: UJE urged to safeguard co-op stake at COOP Bank

Other financial indicators also show strong upward momentum. Total assets rose to 178.7bn/- from 46.8bn/- in 2025, while customer deposits increased to  101.5bn/- from  12.5bn/-, marking a 709 percent rise.

On the customer side, the bank recorded substantial growth, with its customer base expanding from 5,000 to over 37,000, indicating rising trust and adoption of its services.

As part of its financial inclusion agenda, the bank has introduced digital platforms including Coopesa, Coop Net, and Coop Wakala, aimed at improving access to financial services, particularly in underserved and remote areas.

Ng’urah added that the bank targets 10 million unbanked households. Plans are also underway to open new branches in Dar es Salaam, Mtwara, and Kagera regions, alongside increased investment in technology to enhance accessibility and reduce service costs.