TANZANIA: The TEC Owned ‘Mkombozi Commercial Bank’ gets a new CEO

TANZANIA: The TEC Owned ‘Mkombozi Commercial Bank’ gets a new CEO


The Board of Directors of the Mkombozi Commercial Bank which belongs to Tanzania Episcopal Conference (TEC) has announced the appointment of Mr. George Shumbusho as the new CEO. The appointment follows the retirement of Mrs. Edwina Lupembe who is among the most prominent banking leaders.

President of Tanzania Episcopal Conference Rt. Rev. Tarcisius Ngalalekumtwa commended Mrs. Lupembe for her diligent service in the bank saying that she has done a lot to bring the bank to its current position.

Rt. Rev. Ngalalekumtwa who is the Bishop of Iringa Diocese added that Mkombozi Bank will continue providing better services aimed to the community it serves.

Speaking during a special ceremony at TEC Secretariat to bid farewell to Mrs. Lupembe and welcome on board the new director, Mkombozi Bank’s Chairman of the Board of Directors, Mr. Kashonda Method thanked both officials the good service and sacrifices the two has made towards the success of the bank. He expressed confidence that the bank is in safe hands with the new CEO.

He said that the new CEO who holds Master’s in Management from the Maastricht School of Management/Eastern and Southern Management Institute (MsM/ESAMI) is an expert on International Marketing. He is joining the Mkombozi Bank with its most focused experience in International Marketing.

Mr. Kashonda said the new CEO had served at Exim Bank, Stanbic, Standard Chartered and NMB banks for more than 15 years.

“We believe Mr. Shumbusho will share his experience and work closely with Mkombozi staff, clients, board and other stakeholders to ensure that banks are getting more success including providing better and responsible services when it comes to social service delivery.

The outgoing CEO Mrs. Lupembe joined the bank on August 29, 2009, while holding over 20 years in the banking sector, public institutions and becoming a member of various public and private bodies. He said the Board applauds the outstanding service of Mrs. Lupembe throughout her leadership that has made Mkombozi Bank one of the leading banks in the Tanzanian market.

Speaking at the ceremony, Mrs. Lupembe thanked the board, shareholders and staff members for the great collaboration and cooperation they accorded her throughout her leadership role at Mkombozi.

“Through this cooperation, I was able to guide them well. I believe that Mr. Shumbusho will upgrade all the best we have started and make even more because this bank has the opportunity to achieve more than what we have, especially considering it is now listed in the Dar es Salaam Stock Exchange. All of this was possible because of transparency and integrity in serving our clients. I wish you a great deal with the new Director and I promise you my co-operation whenever you need my advice, “she said.

Mr. Shumbusho thanked the Board of Directors for having confidence in him and the outgoing CEO for setting a good foundation.

Mkombozi Commercial Bank was established in 2009 by the Catholic Church in Tanzania (TEC) and its institutions for the purpose of helping small and medium-sized enterprises to access financial services.

In order to expand the scope, the bank’s founders provided opportunities for other Tanzanians, including entrepreneurs and investors to increase their power.


Sarah Pelaji, Tanzania

Copyright 2016 - AMECEA Secretariat


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