Tanzania Commercial Bank (TCB) has officially opened its new Ubungo Branch located at the East African Community Logistics Centre (EACLC) in Dar es Salaam, marking another important step in expanding access to financial services and supporting inclusive economic growth in one of the city’s busiest commercial zones.
The launch ceremony was graced by the Dar es Salaam Regional Commissioner, Albert Chalamila, who commended the bank for bringing services closer to wananchi and contributing to efforts aimed at strengthening the national economy.
He said the banking sector remains a key driver of development by enabling citizens, especially small traders, entrepreneurs, food vendors, and informal workers, to access capital and grow their businesses.
Chalamila noted that banks play a central role in stimulating growth across key sectors such as industry, agriculture, fisheries, construction, and trade.
He explained that access to financial services allows citizens to expand their income-generating activities, improve productivity, and reduce poverty levels.
He further praised TCB for aligning its operations with national development priorities, particularly in supporting small and medium enterprises (SMEs), promoting financial inclusion, and empowering communities.
He said the new Ubungo branch is a strategic investment that will strengthen financial infrastructure in an area with high levels of business activity and transport operations.
At the same time, he encouraged financial institutions to increase support to productive sectors such as agriculture and manufacturing, which he described as the backbone of Tanzania’s economy.
He also urged banks to consider reviewing lending conditions, including interest rates, to make credit more accessible to more citizens.
Chalamila further stressed the importance of enhancing financial security systems, especially in addressing rising cybercrime cases targeting digital financial platforms.
He called on banks and regulators to strengthen protection measures to safeguard customers’ funds and information.
Speaking at the event, TCB Chief Executive Officer Adam Mihayo said the opening of the Ubungo Branch reflects the bank’s ongoing strategy to expand its reach and ensure that financial services are easily accessible to more Tanzanians.
He said TCB currently operates 82 branches across the country and works with more than 7,000 agents. In Dar es Salaam alone, the bank now has 20 branches, reinforcing its strong presence in the country’s main economic hub.
Mihayo added that the bank continues to register strong financial performance. By March 2026, TCB’s total assets had reached about 2.4 trillion shillings, customer deposits stood at 1.7 trillion shillings, while total loans issued to customers exceeded 1.5 trillion shillings.
“These results reflect the growing trust of Tanzanians in TCB and our commitment to supporting national development,” he said.
“We remain focused on serving low-income earners, small business owners, youth, and women.”he added
He also highlighted the bank’s continued investment in digital banking services, which are making it easier for customers to access financial services quickly and securely.
According to him, the number of users of TCB digital platforms is increasing as more people adopt mobile and online banking solutions.
Mihayo further pointed out that TCB’s Trade Finance services are helping businesspeople involved in import and export activities to expand their operations and access wider markets.
He said the opening of the Ubungo Branch is part of a broader expansion plan in Dar es Salaam, where the bank intends to open additional branches in Tegeta, Msaki, Kariakoo Sokoni, and Kariakoo DDC. Plans are also underway to establish new branches in Goba and Mbezi to further strengthen service delivery in the city.
TCB has urged residents of Ubungo and surrounding areas to take advantage of its services, including opening bank accounts, accessing affordable business loans, and using secure digital banking platforms for convenient transactions.
The bank said the new branch is expected to enhance business activity in Ubungo by improving access to financial services for traders, transport operators, and small and medium enterprises.
It also supports government efforts to build an inclusive economy where more citizens can actively participate in formal financial systems.
The opening of the TCB Ubungo Branch is therefore expected to contribute significantly to economic growth in Dar es Salaam and beyond by promoting financial inclusion, empowering entrepreneurs, and strengthening Tanzania’s financial sector.
