Stanbic Bank calls for local capital to drive SOE transformation
Deputy Prime Minister Doto Biteko, presenting a Certificate of Appreciation to the Chief Executive Officer of Stanbic Bank Tanzania, Manzi Rwegasira, for sponsoring the Chairpersons and CEOs Forum for Public Institutions, shortly after closing the conference held in Arusha.
Arusha. Stanbic Bank Tanzania has urged greater mobilisation of local capital and stronger financial pathways to support the transformation of state-owned enterprises (SOEs), describing them as central to Tanzania’s global competitiveness.
Speaking at the 2025 Chairpersons and CEOs Forum in Arusha yesterday, Stanbic executives said closer collaboration between the public and private sectors was essential for sustaining reforms and positioning SOEs as engines of economic growth.
Ester Manase Lobore, the bank’s Executive Director and Head of Corporate & Investment Banking, said the Forum was a unique opportunity to strengthen dialogue.
“We see this as a bridge of cooperation – one that connects the public and private sectors for the benefit of our nation,” she said.
Over the past five years, Stanbic has injected more than USD 1 billion into strategic projects, financing energy, infrastructure and industrial development. The bank says such investments demonstrate the importance of aligning financial flows with national priorities.
Stanbic CEO Manzi Rwegasira told participants that unlocking Tanzania’s full potential requires both SOEs and private institutions to play to their strengths.
“SOEs provide the foundation – energy, infrastructure, services. The private sector brings capital, innovation and expertise. It is at this intersection where true transformation happens,” he said.
He identified three areas that will determine future competitiveness: financing transformative projects, digitising systems to improve transparency, and building institutional capacity through technical expertise.
The Forum’s Guest of Honour, Deputy Prime Minister Dr Doto Biteko, reinforced the government’s commitment to efficiency and accountability in public entities. He noted that 90 percent of the six key Treasury Registrar resolutions issued last year had been successfully executed.
“This bridge also serves as a classroom for us to educate others. A new Dashboard will now monitor the performance of public institutions in real time,” Dr Biteko said.
Treasury Registrar Nehemia Mchechu, who convened the Forum, officially launched the Performance Monitoring Dashboard. The digital platform allows the Treasury to track revenue and evaluate SOE performance remotely, a move expected to strengthen oversight and reduce inefficiencies.
Now in its third edition, the Chairpersons and CEOs Forum has become a key platform for dialogue on SOE reform. This year’s discussions centred on how to balance government reforms with private sector engagement to enhance sustainability and competitiveness.
For Stanbic, which sponsored the Forum as a Resilience Partner, its participation reinforced the role of financial institutions in not just providing financing, but also shaping conversations on reform and growth.
“As a country, our ability to mobilise local capital and create enabling financial pathways will determine how competitive Tanzania becomes on the global stage,” Ms Lobore said.
