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Dar es Salaam, Tanzania – Akiba Commercial Bank Plc has appointed Mr. George R. Shumbusho as its new Chief Executive Officer (CEO), effective October 15, 2026, as the bank seeks to strengthen its strategic priorities, enhance customer experience and drive sustainable profitability.
Mr. Shumbusho brings more than 20 years of experience in the financial services sector, with expertise spanning financial markets, treasury, commercial banking, capital markets, investment advisory and executive leadership.
Before joining Akiba Commercial Bank Plc, he served as Chief Executive Officer of Tanzania Securities Limited, where he spearheaded strategic transformation initiatives focusing on technology, processes, people, branding and capital market development.
He previously served as CEO of Mkombozi Commercial Bank Plc, leading institutional transformation, expanding the branch network and strengthening strategic partnerships.
His extensive professional background also includes senior leadership positions at Exim Bank Tanzania Limited, Stanbic Bank Tanzania Limited, Standard Chartered Bank Tanzania Limited and NMB Bank Tanzania.
Throughout his career, Mr. Shumbusho has developed strong expertise in strategic leadership, financial management, sovereign financing, balance sheet optimisation, risk management, digital innovation and stakeholder engagement.
Academic and Professional Qualifications
Mr. Shumbusho holds a Master of Business Administration degree from the Eastern and Southern African Management Institute (ESAMI) and Maastricht School of Management. He also holds a Bachelor's degree in Financial Management and Information Technology from the Institute of Finance Management (IFM).
In addition, he has professional certifications in international financial markets from ACI, board directorship from the Institute of Directors Tanzania (IoDT), and senior business leadership.
Driving Akiba Bank's Strategic Priorities
Akiba Commercial Bank Plc expressed confidence that Mr. Shumbusho's extensive industry experience and strategic leadership will contribute significantly to advancing the bank's priorities and strengthening its sustainable profitability.
Under his leadership, the bank aims to enhance customer experience, accelerate digital transformation and expand financial solutions for small and medium-sized enterprises (SMEs) and individuals across Tanzania.
The appointment also aligns with the bank's vision of becoming the bank of choice for SMEs and individuals in the country, reinforcing its commitment to providing financial services that support business growth and personal development.
The Board of Directors welcomed Mr. Shumbusho to Akiba Commercial Bank Plc and expressed optimism about his contribution to the institution's continued growth and development.
The announcement was issued by the Board of Directors of Akiba Commercial Bank Plc in Dar es Salaam, Tanzania.
For more information, visit the bank's official website at www.acbbank.co.tz.
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