Review helps top Tanzanian bank hit refresh button post Covid-19

Genesis was engaged by a Tier-1 bank in Tanzania to develop its five-year strategy (for the period 2023 to 2027) and review its operating model. 

This assignment was informed by the bank’s recent acquisition of a new core banking system as well as a positive outlook for the Tanzanian economy given its steady recovery from the worst effects of the Covid-19 pandemic.

In developing the strategy, the Genesis team undertook a review of the macroeconomic and regulatory landscape in Tanzania and of its banking sector. The team also conducted an internal analysis of the bank’s financial performance as well as a review of its preceding three-year strategy.

In order to refresh its operating model, Genesis analysed internal data provided by the client and conducted in-depth interviews and focus groups discussions with key internal stakeholders to understand the core business areas and key customer-facing processes. This enabled the team to map out the current state of the bank’s operating processes, and to identify potential areas of improvement and key challenges.

Based on the insights from these analyses, Genesis ran a full-day workshop in Dar es Salaam with the senior management of the bank. Participants deliberated and agreed upon a way forward with regards to the strategy and operating model. The Genesis team then drew up a roadmap of initiatives that would help in the implementation of the model.