Sector : Banks, Finance & Investments
Mwalimu Commercial Bank (MCB) has been sponsored and promoted by the Tanzania
Teacher’s Union (TTU), a Trade Union established under the Employment and Labour
Relations Act 2004. It is an umbrella trade union of teachers in Tanzania solely owned
by the teachers. With over 200,000 members across all regions in Tanzania, TTU
owns 16% of the bank’s issued and fully paid up capital.
TTU's economic wing, the Teacher’s Development Company Limited (TDCL)
owns 4 % of MCB PLC’s issued and fully paid up capital. The rest 80% is owned by the general public.
MCB PLC was established as a commercial bank, supervised and regulated by the
Bank of Tanzania under its prudential regulatory regime.