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Sabetha Mwambenja

Managing Director Covenant Bank for Women Tanzania Limited

Sabetha Mwambenja studied her first degree in Bachelor of Arts at the University of Dar Es Salaam in Tanzania, and took her Masters degree in Business Administration at the University of Central Michigan in Mt. Pleasant, in the United States of America. She is also holding diplomas in Agribusiness Management, Rural Credit Development, Industrial Extension services and Micro Enterprises finance.

 

Sabetha joined the National Bank of Commerce (NBC) in 1974 and began her banking career as Management Trainee.

 

Following a series of professional and banking roles in the bank, at various levels, she was appointed as Chief Advances Manager and later as the first woman Director of Credit in the National Bank of Commerce history.

 

In January, 1998 she was appointed as General Manager of the newly established Exim Bank Tanzania Limited. Again being the first Woman General Manager in the history of banking industry in Tanzania.

 

After 2 years of exemplary performance, in year 2000 she was promoted to Chief Executive Officer of Exim bank, Once again as the first and the only Woman CEO in the banking sector in Tanzania, the position she held for 14 years up to 31st December,2010.

 

Under her leadership, Exim Bank Tanzania Limited, has grown in leaps and bounds to being among the top 10 (ten) large banks in Tanzania in terms of Assets, Profits and branches network. The bank has 20 branches country wide, and has the largest number of off site ATMs.

 

Exim Bank was the first bank to introduce unique services/products such as Mobile ATM, and issuing of MasterCard credit card

 

Exim Bank was also the first local Tanzanian bank to open a subsidiary outside Tanzania, in the Comoros. It will soon have other two subsidiaries in Djibouti and Zambia.

 

It was Mrs. Mwambenja’s initiative to establish a fully fledged Department in Exim bank to cater for Women Entrepreneurs Finance (WEF) in Tanzania.

 

In year-2009, she was appointed to be a member of the Governing Board of the Global Banking Alliance (GBA) for women. She is also sitting as a Board Member of the Southern Highlands University College, and as an Advisory Board Member of the University of Dar-Es-Salaam Business School in Tanzania.

 

In year 2010 , the TIAW ( The International Alliance for Women), named Sabetha Mwambenja, an AWARD WINNER OF THE PRESTIGEOUS TIAW WORLD OF DIFFERENCE 100 AWARDS in the COMMUNITY/CORPORATE category. TIAW is an International umbrella organization whose mission is economic empowerment of women entrepreneurs and those seeking board governance roles in the world’s business capitals. The TIAW world of Difference 100, Honors up to 100 women from around the world who have contributed to the economic empowerment of women.

 

Due to her entrepreneurial achievements, her current responsibilities and her commitment to serve the women micro and SMEs, in 2010 she was appointed to be a member of The World Entrepreneurship Forum( WEF), founded by EMLYON Business School and KPMG under the sponsorship of His Excellency, Nicolas Sarkozy, President of France.

 

In January,2011, Mrs. Mwambenja was appointed the first Managing Director and CEO of the newly established, Covenant Bank for Women Tanzania Limited. The new bank she is heading is in pursuit of wealth creation for women and junior entrepreneurs through accessing finance and training to these entrepreneurs. The bank will also be facilitating graduation of micro and small entrepreneurs from the bottom of the pyramid(BoP) to higher levels, through innovative financial products and services.

 

Sabetha has been able to excel herself as well as the organizations she has been managing because of her belief that “Nothing is impossible”.

 

Mrs. Mwambenja, is a mother of four children. She likes reading, gardening and writing.