By Alfred Zacharia
The Central Bank of Tanzania (BOT) has reaffirmed its commitment to advancing financial inclusion, promoting capital markets, and fostering a culture of innovation and resilience within the financial sector.
BOT Governor Emmanuel Tutuba made the commitment in Dar es Salaam today (January 10) during the listing of DCB Commercial Bank PLC equity shares at the Dar es Salaam Stock Exchange (DSE).
He emphasized BOT’s pivotal role in supporting initiatives that empower the financial ecosystem.
“BOT is dedicated to creating a conducive environment for financial institutions to thrive while ensuring the stability and integrity of the financial system. This effort aligns with the government’s priorities,” Governor Tutuba remarked.
He further noted that the listing of DCB Bank's shares demonstrates progress in strengthening the bank’s capital base, expanding its services, and contributing to the overall stability of Tanzania’s financial sector.
Nicodemus Mkama, Chief Executive Officer of the Capital Markets and Securities Authority (CMSA), described the development as a key milestone in implementing the Financial Sector Development Master Plan (2020/21 – 2029/30).
He explained that this strategic initiative aims to enhance access to financial resources for both public and private sector businesses, facilitating growth and development across Tanzania.
Mkama highlighted the success of the issuance of preferred shares from November 11 to December 6, 2024, which attracted total applications amounting to 10.7 billion shillings, achieving a 100 percent subscription rate.
The funds raised will drive DCB Bank’s growth, support its expansion plans, and provide loans to small and medium-sized enterprises (SMEs).
“The funds will also help the bank achieve its strategic objective of enhancing shareholder value,” Mkama noted, underscoring the importance of strong leadership and strategic decision-making in advancing Tanzania’s banking sector.
He called on financial stakeholders to collaborate further with CMSA to maximize shareholder value.
DCB Bank’s CEO, Moshing Sabasaba, attributed the bank’s success to the tireless efforts of its leadership and the favorable business environment fostered by the government. Sabasaba expressed optimism about the bank’s future, emphasizing its commitment to supporting economic growth through innovative financial services.
