TIB Development Bank Ltd
CPA Simon Kasembe currently serves as a Senior Finance Officer at TIB Development Bank Ltd, where responsibilities include group financial reporting, budgeting, data analytics, financial modeling, and strategic planning. Previously, Simon worked as a Financial Accountant at FINCA Microfinance Bank Tanzania, focusing on financial reporting, tax management, and policy implementation. Furthermore, Simon has experience at UBA Group in roles related to finance regulatory reporting, market risk management, and treasury sales. Educational qualifications include a Master of Science in Finance and Investment from the Institute of Accountancy Arusha and a Bachelor of Science in Accounting & Finance from Ardhi University. Additionally, Simon has completed coursework at the Corporate Finance Institute® (CFI).
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TIB Development Bank Ltd
TIB Development Bank Limited was established in November 1970 initially by the Parliamentary Act, the Tanzania Investment Bank Act of 1970 with the main purpose of financing development with emphasis on industrialization of the country. TIB was able to fulfill its mandate with notable success in the setting up of textile, leather, paper and other processing industries until the macroeconomic instabilities of the 1980s when the country’s economy deteriorated. The economic reforms of the 1990s highlighted the lack of long term funding as it was not offered by any of the commercial and financial institutions operating the country at the time. The Government therefore re-designated TIB as a Development Finance Institution (DFI) in 2005. The bank has completed the process of transformation into a DFI with an engagement focus centred primarily on infrastructure, industrialization (agro-processing, mining, and general manufacturing) oil and gas and services sector.