ARUSHA: Tanzania Commercial Bank (TCB) affirmed its commitment to strategic expansion beyond borders.
This was revealed at the recently concluded CEO and Chairperson’s Forum in Arusha.
The event, which was graced by President Samia Suluhu Hassan, brought together leaders from Public and Statutory Corporations (PSCs), including government officials, regulatory bodies, and entrepreneurs, to deliberate on strategies to transform the future of Tanzanian businesses.
Speaking during the forum, TCB Bank Chief Executive Officer Mr. Adam Mihayo stated, “To succeed beyond Tanzania, it is imperative we consider target markets through robust research, identifying service gaps, and tailoring our offerings to meet global demands.”
He emphasized the importance of forming strategic partnerships, joint ventures, and alliances to leverage local networks and expertise.
“It is fundamental that our businesses adhere to international compliance standards. Our business models must be flexible, adaptable, and innovative to resonate with diverse audiences, which is essential for achieving success in global markets,” he added.
At the well-attended forum, the TCB CEO’s speech emphasized the synergy among Tanzanian corporations.
“It is fundamental to harness the power of our corporations working in synergy, through sharing data, aligning strategies, and cross-promoting services.
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“By doing so, we not only optimize our resources but also create a seamless experience for our consumers, enhancing their satisfaction and loyalty.”
He pointed out that strategic collaborations in research and data sharing among complementary corporations could uncover new opportunities and strengthen the collective market presence of Tanzanian entities.
Highlighting TCB’s proactive approach, Mihayo shared the bank’s recent achievements, including the launch of diaspora banking services in Comoros.
“This signifies our commitment to providing banking services that transcend borders, meeting the needs of Tanzanians globally. In this same commitment, it is our aim that in two years we will be listed on the Dar es Salaam Stock Exchange, to ensure the ordinary Tanzanian plays a role in the success of the institution, hence taking them along as we go across borders,” he emphasized.
He asked stakeholders to collaborate, innovate, and strategize together to ensure that Tanzania’s Public and Statutory Corporations not only contribute to the national economy but also become formidable players on the global stage.
The theme, ‘Public and Statutory Corporations Business Strategies Beyond Tanzania,’ underscored the potential for Tanzanian PSCs to expand beyond domestic markets.
