Tanzania Commercial Bank (TCB) has pledged to play an active role in the implementation of the National Development Vision 2050, which was officially launched by President Samia Suluhu Hassan in Dodoma today.
The long-term strategy aims to transform Tanzania into a competitive, inclusive, and modern economy, with the country targeting a Gross Domestic Product (GDP) of $1 trillion and an average annual income of $7,000 per capita by the year 2050.
Speaking shortly after the launch, TCB Chief Executive Officer, Mr. Adam Mihayo, said the bank was fully aligned with the government’s goals and would contribute through strengthening access to formal financial services across the country.
“We are proud to be part of this national journey. As a financial institution, we are committed to supporting inclusive economic growth and raising productivity in key sectors,” said Mr. Mihayo.
Vision 2050 identifies nine priority sectors, including financial services, which are expected to drive the country’s transformation.
Mr. Mihayo said increased demand for banking, insurance, and digital financial services presented an opportunity to boost domestic revenue and formalise the economy.
He said TCB had already started aligning its operations with the new vision through its latest strategic plan, launched last year.
The plan shifts focus from consumption to productive sectors such as agriculture, manufacturing, and trade.
“We are offering tailored services to businesses at all levels, especially those involved in agriculture, where over 70 percent of Tanzanians are engaged,” he noted.
In addition to agriculture, TCB is also supporting key sectors such as construction, industrial processing, and export development.
The aim, according to Mr Mihayo, is to build a resilient and inclusive economy that benefits all Tanzanians.
“The launch of Vision 2050 offers hope. It is our responsibility as a financial institution to help turn this vision into action,” he added.
Mr. Mihayo concluded by reaffirming the bank’s readiness to collaborate with the government, private sector and communities.
“TCB is fully committed to being part of the country’s economic transformation. We will continue to support financial inclusion and sustainable growth across the country,” he said.