Finance Minister Ambassador Khamis Mussa Omar has praised Standard Chartered Bank for its contribution to Tanzania’s financial sector and support for key government development initiatives, as he met the lender’s outgoing and incoming chief executives in Dar es Salaam.
The minister held talks with outgoing Chief Executive Officer Herman Kasekende and his successor, Geoffrey Mchangila, at the Ministry of Finance’s offices, where discussions centred on the banking sector’s role in driving economic growth and supporting national development priorities.
During the meeting, Ambassador Omar commended Mr Kasekende for his leadership and contribution to strengthening the country’s banking industry.
He noted that Standard Chartered had remained a key partner in supporting the implementation of strategic government projects, helping to mobilise financing for critical sectors of the economy.
He said the government values the role played by financial institutions in promoting investment, expanding access to financial services and facilitating economic activity across the country.
The minister also congratulated Mr Mchangila on his appointment as the bank’s new chief executive, expressing confidence that he would build on the institution’s achievements and deepen its contribution to Tanzania’s development agenda.
Ambassador Omar reiterated the government’s commitment to maintaining close collaboration with the banking sector, saying a strong financial system remains essential for sustaining economic growth, supporting businesses and creating opportunities for Tanzanians.
The meeting underscored the importance of public-private sector cooperation at a time when Tanzania is pursuing ambitious development programmes that require increased private sector participation and access to financing.
Mr Kasekende thanked the government for the support extended to the bank during his tenure, describing the partnership as critical to the institution’s growth and ability to serve customers and businesses in Tanzania.
Mr Mchangila pledged to strengthen the bank’s engagement with government and other stakeholders while advancing innovative financial solutions aimed at supporting businesses, investors and communities.
The leadership transition at Standard Chartered comes as Tanzania’s banking industry continues to expand its role in financing infrastructure, supporting trade and investment, and advancing financial inclusion, key pillars of the country’s long-term economic transformation strategy.
