The Community Banks Association of Tanzania (COBAT) was founded by all Community Banks in the year 2005. The Association was officially registered under the Societies Ordinance of 1954 (rule 5) with Registration number SO 14198 issued on 1st day of February 2006. COBAT started with seven banks (CBs) as the founding members of which four were regional banks: Dar es Salaam Community Bank (DCB), Kili
manjaro Cooperative Bank Limited (KCBL), Kagera Farmers Cooperative Bank Limited (KFCBL) and Uchumi Commercial Bank (UCB) and the other three were district level banks; Mufindi Community Bank (MCB), Mbinga Community Bank (MCB) and Mwanga Community Bank (MCBL). Since its formation COBAT has witnessed the birth of four new members: Efatha Bank Limited (Efatha), Njombe Community Bank (NCB),Tandahimba Community Bank (TaCoBa) and Meru Community Bank (MeCoB), increasing the membership base into eleven banks. Former district-level banks have developed to regional banks and DCB has growing to a commercial bank. Community banks are defined by Bank of Tanzania as banks with share capital of 2 – 5 billion, these banks are allowed to operate within a region only and commercial banks are banks with share capital of more than Tsh. 5billion. To qualify as a national bank a commercial bank’s capital has to reach Tsh. 10billion. The definition of community bank is taken a step further by the Association to mean a bank which is owned mainly by the community and is deep rooted in the community development. These banks are owned by the community in the form of Individuals, SACCOS and solidarity groups, Government through councils, private and public organizations and donors. Current CBs are providing convenient access to appropriate and affordable financial services to more than 400,000 people, mostly in rural areas, in eight regions of Tanzania provided in a group-based approach. Through a network of CBs (at least one CB in every region of Tanzania) COBAT is planning to reach more than one million people by 2016. OUR VISION:
To have a Community owned financial Institutions providing convenient access to appropriate and affordable financial services to all customers. OUR MISSION:
To facilitate the establishment of economically sustainable community banks first in all regions and subsequently in all districts of Tanzania.
