Remarkable journey of Margareth Mataba Chacha as TWB founding CEO

The story of Ms Margareth Mataba Chacha is a testament to the power of resilience and the vast potential hidden within Africa’s rural landscapes. Her journey began on Ukara Island, a remote gem in Lake Victoria’s Ukerewe District, where she was born the fourth of 12 siblings. Raised in a traditional, close-knit African household, her world expanded when she moved to Tabora Region to live with her uncle—a move that granted her the most transformative gift of her life: the opportunity to study.

 

What followed was a career path that can only be described as tantalising and trailblazing. Breaking through the glass ceilings of a male-dominated industry, Margareth became the first woman to open a new bank branch alongside five male colleagues, eventually serving as a Branch Manager for CRDB at that time. Her ascent was rapid; she rose to become the Eastern Zone Director, overseeing vital operations across Dar es Salaam, Morogoro, Lindi, and Mtwara, before being promoted to Banking Director at the CRDB Headquarters.

 

Her expertise eventually took her to the global stage. Margareth spent eight years with UNDP Tanzania and served a pivotal two-year stint with the first United Nations mission in South Sudan. It was this rare blend of high-level local banking experience and international diplomatic service that caught the attention of then-President Jakaya Mrisho Kikwete. As the government scouted for a visionary to lead the nation's first-ever Women’s Bank, Margareth emerged as the natural choice.

 

Throughout her worth-emulating career, her North Star has remained a simple yet profound philosophy: self-belief. "When you believe in yourself, other people will also believe in you," she shares. This unwavering confidence has been the secret behind her success, transforming her from an island girl with a dream into a founding CEO. In an exclusive interview with Who’s Who Tanzania, Ms Chacha reflects on the lessons learned along the way. Excerpts:

 

QUESTION (Q): To begin, could you introduce yourself and share some memories of your early childhood?

ANSWER (A): My name is Margareth Mataba Chacha—Mataba is my father’s name, and Chacha is my husband’s. I was born into a vibrant family of 12 children, where I am the fourth-born overall and the third daughter. As I often say, we were a full football team plus a reserve, all from the same father and mother! Growing up in such a large household naturally fosters a sense of competition. You learn early on that you must speak up and stand your ground, or you risk being "swallowed" by the crowd. Despite being a big family, I was raised in a deeply loving and caring environment. I have fond memories of being a very healthy, "heavy" baby—so much so that only a few people in the neighbourhood could actually carry me! A pivotal moment in our family history occurred in 1960. My uncle, who worked as a Railways Ticket Officer, came to visit. Because his job required constant travel, he asked my mother if one of his nieces could live with him to keep his wife company. My mother actually hoped my brother could go instead, believing that moving with his uncle would guarantee him access to good education. However, my grandfather firmly intervened. He insisted that his family—especially the boys—remain at home to be raised under his own guidance. My brother, being the first-born son, held a special place in my grandfather’s heart, so he stayed behind.

 

Q: It sounds as though your grandfather was a very authoritative and influential figure?

A: My grandfather was the Chief of Ukara Island, the second largest island in Ukerewe District. At the time, we used to joke that Ukerewe Island had Chief Lukumbuzya, who thought he would command other chiefs, but my grandfather refused, saying: “There’ is no way! I have my territory; you have your territory. So, we are equal”. He used to use a Kikara saying which goes: Omutayo gutaitaya manji mumtayo gundi (which translates into Kiswahili: Kata moja haichoti maji ndani ya kata nyingine) and in English it means that “it is impossible for one person in a group of equals to claim superiority over the others. He commanded with such presence that even the Germans couldn’t intimidate him; he would make them wait for him to sit before he would even begin a meeting.

 

Q: Could you walk us through your educational journey?

A: My journey began in Tabora when I was seven. I attended a TAPA school (owned by the Parents’ Wing of TANU). Conditions were humble—we didn't even have desks and sat on the floor—but my passion for learning was so great that it didn't bother me at all.

By the time I reached Standard Four, the national examinations were a massive hurdle. However, the government suddenly decided to abolish the Standard Four exams just as we finished them. The results were never released. For a pupil as driven as I was, this was a painful setback.

 

Q: What happened after those examinations were abolished?

A: I refused to let my education stall. I took it upon myself to visit government offices, including the Regional Education Officer (REO), to request a transfer. He laughed, surprised that such a schoolgirl possessed such zeal. Unfortunately, most government schools were full. He asked if my family could afford a private school, and knowing my uncle’s love for me, I confidently said “yes”. I was admitted to HR Primary School, an English Medium school. The REO advised me to repeat Standard Four to master the language. Transitioning from a public school to this private environment was like entering another world, but I adapted quickly and eventually became the Head Girl.

Later, at Kazima Secondary School, I faced a gruelling schedule. Although it was a co-education school with a hostel, I lived at home. Every day, I woke up early to clean and prepare children for school before heading out myself. At lunch, I would run home to cook and wash dishes, often running back to class without having had a bite to eat. Visitors were always baffled by how I managed it all.

 

Q: With such an exhausting schedule at home, did your academic performance suffer?

A: I remained a consistent "single-digit" student, always staying within the top 10. I wasn't number one, but I held my own. The pressure was high because when I visited my ancestral home, I saw that all my siblings were brilliant. I realised that if I failed, I would have no one to blame, but myself. Beyond academics, I was a class prefect who wasn't afraid of challenging boys. I remember one student—now a Member of Parliament—who actually beat me up because I outshone him in a Mathematics test! He was a top student and couldn't handle being outperformed by a girl. It wasn't always easy for girls to compete in that environment, but I wasn't afraid of anyone.

 

Q: Did that boldness help you navigate social pressure as well?

A: (Laughter) Absolutely. Back then, boys were often too timid to approach us directly; they would send a messenger. I knew their psychology—they were cowards at heart. My trick was to tell the messenger: "Go tell him I love him so much I just don't know where to start." That statement terrified them! They would run away and never bother me again, which kept me focused on my studies. For my A-Level studies, I went to Tabora Girls, which had been converted into a military boarding school. We had to run and sweat just to get to the dining hall, but I adapted. There was Tabora Boys School which was also a military school, and both schools were very close to each other. Yes, it was fun and good.

 

Q: What did you gain from your time in a military-style school?

A: It taught me how to navigate the system! After Form Six, during my compulsory National Service at Ruvu Camp, I decided I had suffered enough "drills." I pretended to be ill so I could be assigned to a poultry farm. I even convinced the boys to carry the heavy bags of chicken feed for me!

One day, a trainer tried to make an example of me during a rifle drill. He didn't realise I already knew my way around a gun from my time at Tabora Girls. He ordered me to dismantle and re-assemble a rifle against my classmates. I was the first to cock the gun—twice. Everyone started shouting that I must have come from a military school.

Even then, I stood my ground. In 1977, army officers at Ruvu tried to keep me there just to cook for them. I told friend of mine, Margareth Mziray (who later became the Registrar of Lands for the Lake Zone): "No. I didn't come to National Service to be a cook." As a truck was about to leave for Itende Camp in Mbeya, I had her throw my bag on board, and I jumped onto it as we were used to doing with big trucks using a rope. It was at Itende Camp, where served the remaining six months of my compulsory National Service.

 

Q: What followed after your National Service?

A: At that time, there was a government directive that after completing A-Level, one could not directly proceed to study at a university before working first. So, I was posted to Kivukoni Ideological College in Dar es Salaam, where I worked as a research assistant. I earned good money and I’m lucky that the teachers really liked my work and at times they were even sending me to President Julius Nyerere, the Founding President of Tanzania, when he was writing his books. They were sending me to deliver drafts for proof reading and I would take them to college. It was at this college that I had the opportunity to meet many prominent personalities, such as Wilson Mukama, who rose to become the Secretary-General of CCM and Ambassador Daudi Mwakawago, who was the Head of the College by then. Surely, the time that I spent at the college between 1978 and 1980 earned me a lot of experience. I then joined the University of Dar es Salaam in 1980, and chose to pursue a degree in Sociology Industrial Relations. My choice of the course was based on the fact that it was covering economics, research, statistics and legal practice.

Q: Can you briefly tell us about your journey from the time you left the university to become one of the few successful and inspirational icons in the country?

A: When I was in my final year at the university, my dissertation paper was on the subject: “Life in Tanzania after retirement.”
That prompted authorities to decide that I was suitable for employment in social security and was posted to the National Provident Fund (NPF), now National Social Security Fund (NSSF). There, I was Head of the Penalty Unit, which was responsible for identifying delinquent employers, and calculating penalties to drive institutional accountability and protect the benefits of employees. I was the one who proposed that we visit employers and sensitise them on the need to deliver their employees’ contributions on time as I did not believe in penalising them. It worked well as there was a positive response. I was then transferred to the Planning Section which was responsible for issuing loans and access projects.

While I was in that section, CRDB put up an advertisement for the post of Project Officer. That is how I crossed over to CRDB in 1987 after working with NPF for four years. There, I was recruited as a management trainee with a view to being given a managerial post after two years. However, it took me seven years to be given the managerial post. I did not complain because it was at the time when I was taking care of a young family and I thought that if I demanded for a higher post I would not perform to the expected level, so I kept quiet. By 1992, CRDB underwent massive restructuring and our posts were abolished and we had to reapply. Luckily, I got the Branch Management post. What helped was that I always thought positively even when I was in difficult situations. That’s how I managed most of the time. So, at the time of restructuring my colleagues refused to reapply, but I don’t know where I got the courage because I managed them to sign a contract. I remember one thing that I can now share with other people. When we were asked to reapply, I was at first hesitant because I thought I was going to compete with my manager. I, therefore, went to my husband and shared with him what I felt about it, that if I applied for the Branch Managerial post, my manager would be offended, but my husband said, “No. No. No! You know you have been waiting, and now this is the chance for you to be manager.” I submitted my application on the deadline date. I was surprised to see that I was shortlisted. I went for interview, and got the job.

Q: Were you the first female CRDB Branch Manager?

A: Yes, I was the first female Branch Manager to open a new branch at Holland House in Dar es Salaam. That was my baby. At CRDB by then I was the first female to hold a Branch Manager post, especially opening a new branch, followed by Vijana Branch. It is easier to manage an established branch than a new one. I am happy to say after two years, the branch was doing very well as the second best of the 12 branches. It was a model branch for CRDB as every new product or system had to be tried at Holland House Branch before being rolled over. It was exemplary trust to the branch and its members of staff.

Q: It sounds that you had a very good team?

A: Oh, yes! The team was very good, and I had actually created it because I was not tired of teaching or inviting teachers for help. I remember even on Sundays I was training my staff and whatever competition was introduced to the bank we were branch number one. I remember when we sold shares, we were placed number one for selling shares. When we were told to mobilise deposits, following bank restructuring, we were also number one because we mobilised more deposits. It was all teamwork and we were doing very well.

Q: Were you rewarded out of that?

A: Yes, I should say so because after two years, I went for my Master’s in Northern Ireland in the United Kingdom. When I came back, I was given another assignment to help the bank migrate from one system to another. So, when we completed the assignment, I was asked to apply for the Zonal Director post as the one holding it was about to retire. I did not want to apply, but they told me that the IT assignment was now over, and I should apply, and so I did and got the job. But as usual, I was very inquisitive. I went to one of the interviewers and asked: “Did you give me the job because I am a woman or because of my ability?” He replied, “No Margareth, you did very well.”

Out of the five applicants, I was the only female who succeeded, and I became CRDB Eastern Zone Director for Morogoro, Lindi, Mtwara and Dar es Salaam. The Zonal Director post was short-lived and was eventually abolished. Meanwhile, the manager who was holding my previous post at Holland Branch passed away.
I was asked to go back, and manage the branch. I found the branch doing badly, and it took me six months to revive it. I stood firm to rectify the anomalies and we became the best again. One day, I just received a call from the Managing Director, informing me that the Board had appointed me Director for Banking. It was a surprise to me because the bank’s policy was that one had to apply for any higher post. For that one I didn’t apply. The Managing Director told me that it was the Board’s decision, and not his. Therefore, I moved to the CDRB Headquarters to hold the challenging post. I was heading marketing, bank operations and e-banking because we were the first bank to introduce ATMs and debit cards. We even introduced a microfinance unit and an insurance wing. It was not easy to introduce ATMs because they needed a lot of marketing.

Q: Where did you go after that?

A: By then new banks, mostly foreign, were coming in, and for me - having been in the banking business for more than 20 years - I thought maybe I didn’t have much exposure to compete with foreign banks, so I wanted to have such exposure. I joined United Nations Development Programme (UNDP), hoping to get foreign experience so that I could impact my people. I, therefore, requested to go to Sudan to work as a UNDP member of staff because working in Tanzania I would be considered as a local member of staff.

 

Q: How did you get the job?

A: The post was advertised in a newspaper, and I applied for it. I was later shortlisted before going for an interview. I went through two interviews. First, with Coopers and Lybrand, then I went to face a UNDP panel. I got the job, and requested the UN Headquarters to allow me to serve outside my home country. The procedure is that you are given a maximum of two years to be out of your home country, but you maintain your salary back home. It was in 2004, when I went to Sudan where I stayed for two years.

I was lucky to serve as a member of the first team to establish a UNDP office in Sudan. I served as the Budget Officer although I was supposed to be the Head of Budget. Because my arrival in Sudan was inadvertently delayed, a male colleague from the UK held the post. But when I reported I never demanded back my post, and the colleague left in disbelief. For me, since it was my first time to work outside my home country it was good to learn from someone else before I took up the office. I liked it because we were both getting the same pay, and I learnt a lot. For the first time, I was able to approve a lot of money. We were buying planes, putting up airports, and set up the first UN radio station.

Q: Now tell us your journey from the UN to what you are now?

A: I worked for the UN for about eight years before I returned to the banking industry. It was funny, but it was encouraging that after all those years, people still remembered me as a banker. One day, I was at Shoppers Plaza in Dar es Salaam, and a friend of mine, Dora Ngaliga, she is still at CRDB, came to me, and confided to me that some people were looking for me. She said there was a good opportunity for me. I thought she was joking, and I didn’t take her seriously. But then someone called me, and I found out that he was a consultant for the government, looking for someone to establish Tanzania Women’s Bank (TWB). He wanted me to go for an interview so that they could establish if I was suitable for this post. I went, and I did the interview. When they informed me that they had accepted me as Director it was quite a surprise. I knew it was a challenge because they couldn’t pay me as good as I was being paid at the UN.

But after soul-searching I said let me return to serve the community because money is not everything. I agreed that they were right. At first, I thought it was easy maybe because I was comparing opening a bank with a branch, but when I started, I realised it was a big challenge. I had to put up all business plans, policies, write all requirements for the Bank of Tanzania (BoT), taxation and the government because my team was inexperienced. It was really overwhelming, but I was happy to see that my team supported me very well.

Q: Who do you attribute the success of this bank to?

A: First, I hail the government because without it I am sure the bank would have taken much longer to be established since it was not easy to raise capital, but thanks to President Jakaya Kikwete, the government accepted to give the bank seed capital. That was really clever because so many governments do not have that plan and that is why many are still struggling to have such a bank. Second, I thank my Board which did a lot to support me. It was not that easy.

I remember sometimes I would try and err, but the Board was there for me, trying to make it work. I also thank my team because without it I wouldn’t have done anything. We worked overnight. I remember even when the President was coming to inaugurate the bank, we even had no leaflets and we had to conceptualise to have a concept that could lead us to determine what products we wanted to promote. While banks have almost the same products, we had to determine what products would make us different, thus making customers come to us instead of going to another bank. We had long brainstorming sessions and in most cases working up to midnight.

But most importantly, I thank my family for its great perseverance because it seemed as if I was almost always in the bank. Even when I went home, I had to carry my assignments, and my family would help me. I remember the commendable work done by my daughter Bella during this trying period. She was virtually with me everywhere saying: “Mum, don’t worry, you don’t have money to place advertisements, but I will do it for you.” She was adding her voice to our advertisements when we started, and sometimes even when I was calculating spreadsheets, cash flows, and plans she was giving me a helping hand.

Q: Where is your daughter now?

A: She is now in South Africa, but by then she was still studying. She is brilliant! My son also recently found some investors, and I was there using his computer to talk to a group of US investors because of him. He would ask me: “Mum, what do you think I should help?” I would just say, “I want a concept, and I would like you to prepare a profile for the bank, sit and read, and prepare the bank’s profile.” My daughter always helps me to put up some pictures. She is a graphic specialist, and she would put all images together even now she’s still doing it. Whenever I have a presentation, she helps me to put pictures in it. As for those US investors they want to see which corner they can come in, and help small and medium enterprises (SMEs). My husband too has been of great help to me.
I thank them all.

Q: Which of your employees has been very close to you?

A: It has been tough actually to all of us, but in the end we deliver. That is the most important thing. We meet deadlines, we argue, we agree, and sometimes we agree to disagree, but this is what I want. I want people who will challenge my way of thinking, and when I see logic, which is great, because a team is a team when it contributes. Actually, the team is very happy because it is part of the process.

Q: Do you have any branches?
How well have you been able to cover the country?

A: It is a challenge because BoT monitors capital before a bank is allowed to open a branch. So far, from when we started BoT allowed us to have one more branch. We have two main branches, but my team, and I resolved to not just sit, and cry. We did not have enough capital, but adopted a branchless module which even BoT was very happy to hear about, and we were allowed to go ahead. So, we are in Mwanza, Dodoma, Mbeya, Iringa, Ruvuma, Makambako and even Coast Region using a branchless module.

Having a branchless module means we neither have strong rooms nor counters. What we have are offices using a big branch network. For instance, we open an account in a big bank that we call a “Collection Account”. Our customers use the account to bank with us and for us. Whenever they bank, we remove the money from our account to their accounts, and also we use mobile banking. You can bank and take money out of your account using your mobile phone such as MPESA, Tigopesa, Airtel Money and others.
We also allow our customers to use ATM machines to cash. They do not need to go to a branch, but they can bank anywhere, and in this way, we touch so many lives without us having any strong room or being extensive. I can say with confidence that we are very well as we train, and issue loans using this branchless module.

Q: You are an inspirational icon to many. Who are the figures that inspired you?

A: I should say, first is my mother. She was my motivator and mentor. She would talk to me, literally enlightening me to the extent that even when I was not with her, I would recall what she used to tell me. She was not a person who could do things for you, she liked you to do things for yourself, believe in yourself, trust yourself, have discipline, and be self-motivated. Therefore, through her principled and unwavering spirit, my road to this level has been possible through believing in myself. If I know, I know. Even when I sat for exams I don’t recall when I feared to fail. I am a person who does not believe in planning to fail. I always plan to succeed. Whenever I meet challenges, I normally see them as opportunities. I learnt to respect time. I have a passion for whatever I do, and if for any reason I want to part ways with a company or institution, I always try to leave in a clean way. That is why I am always remembered because I always do my best up to the end. I never believe in giving up.

Q: You are a busy and dedicated person. Do you have time to socialise? What are your hobbies?

A: Yes. I like travelling and sightseeing.
I like experiencing and I always say so as there are always other ways of doing things. I could be used to doing things in such a way, but when I see other people doing things in a different way it excites me. I also like reading and I read a lot because I have a unique zeal for literature, and I am still in love with it to date. I have the capacity to read between lines to understand the unspoken, so I watch movies, and documentaries a lot, and I like dancing too (laughter).

Q: What are your plans for retirement?

A: As they say, whatever you know, and most important, the experience you have, offers you the best chance of doing it very well. But I want to write books. I want to leave behind a legacy for girls especially because I don’t believe in girls being frustrated to the extent of being married as a second wife. They can do a lot. I want to encourage and inspire them to believe in themselves. This is very important: None will be convinced if does not believe in oneself first. I also see myself managing another company and teaching my family to employ others instead of them running around looking for employment. I believe that I will have a very good retirement time. I will manage my time and also manage my life. Right now, I see someone managing me instead of me managing myself.

Q: As an inspirational figure in this country, what is your advice to the community, especially the youth?

A: Talking to girls, especially young mothers because as women we have multiple tasks to be successful or to be seen or even to be recognised, they have to work almost twice as much. But I want to tell women first to believe in themselves because they have to build their capacity, and I always use this terminology: “You have to build your shock-ups very well” because if you end up in a ditch you will stay there and you will never come out, but if you have good shock-ups - like a car - you will just bounce back and continue. This is what they need to be, tears will never give you answers or solve any problem, but think very fast, look for options.

I always tell my members of staff, if you come to me with a problem also come to me with options. What do you think we should do? So, I am also telling women to look at challenges as opportunities. For instance, with this problem, what do I do? How do I do it? How good am I going to manage it? Today, I was talking to someone, she owns a school. She said: “Huh! I’m giving up because registration is giving me a problem.” I told her, “Never plan to fail. Never!” So, my advice to the youth, especially young women, is not to plan to fail. They should always plan to succeed and should always plan big, think big, never think small because when they think small, they will remain small, but when they think big, they will struggle to achieve their dream. I always say “you will never avoid things from happening, they will happen, but most important is the way you handle the situation.”

Q: Any final word to us?

A: When I am driving around with my family, I always ask them, “What in this week do you think struck you?” I am pleased to have your time and trust, coming to me and interviewing me. I am very much blessed because I believe in print media as it has one special characteristic. It stays. When you have a book or a magazine basically any print even our children or siblings will read it, they will realise and they will see pictures. I, therefore, believe in print media and I respect it. I am sure as Who’s Who Tanzania, you are making history because this magazine is going across borders. You are particularly making Tanzania known to the world. You are also enabling Tanzanians to be recognised by others. You are making us sit in someone else’s sitting room without you being there, and someone talking about you without you being there. Thank you very much!