Tanzania Commercial Bank (TCB) reaffirmed its commitment to strategic expansion beyond borders during the recently concluded CEO and Chairperson’s Forum in Arusha, attended by Her Excellency Dr. Samia Suluhu Hassan, President of the United Republic of Tanzania.
The forum brought together leaders from Public and Statutory Corporations (PSCs), government officials, regulatory bodies, and entrepreneurs to deliberate on strategies to transform the future of Tanzanian businesses.
Themed, ‘Public and Statutory Corporations Business Strategies Beyond Tanzania,’ the forum highlighted the potential for Tanzanian PSCs to expand beyond domestic markets, inspired by President Samia Suluhu Hassan’s earlier call for PSCs to explore international opportunities.
The forum provided a platform for CEOs and Chairpersons to reflect on progress made since last year and outline actionable strategies for future expansion.
Speaking at the forum, Mr. Adam Mihayo, CEO of TCB Bank to succeed beyond Tanzania, it is imperative that we conduct robust research to identify target markets and service gaps and tailor our offerings to meet global demands.
He stressed the importance of forming strategic partnerships, joint ventures, and alliances to leverage local networks and expertise.
"Our business models must be flexible, adaptable, and innovative to resonate with diverse audiences, which is essential for achieving success in global markets," he said.
Mihayo also underscored the importance of synergy among Tanzanian corporations.
"Harnessing the power of our corporations working together through data sharing, strategy alignment, and cross-promotion of services can optimize resources and enhance consumer satisfaction and loyalty," he said.
He noted 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 reflects our commitment to providing banking services that transcend borders, meeting the needs of Tanzanians globally. In line with this commitment, we aim to be listed on the Dar es Salaam Stock Exchange within two years, ensuring that ordinary Tanzanians can participate in the success of our institution as we expand internationally," Mihayo stated.
Mihayo also urged Tanzanian PSCs not to be satisfied with merely serving domestic markets but to be inspired by nations that have successfully established thriving enterprises within Tanzania.
"They have shown us what is possible, and now it is our turn to take up the challenge. Let us collaborate, innovate, and strategize together to ensure that Tanzania’s Public and Statutory Corporations not only contribute to our national economy but also become formidable players on the global stage," he concluded.