Mr. Lomnyaki Saitabau currently serves as the Managing Director of Maendeleo Bank PLC, a role he assumed in January 2025 following the retirement of Dr. Ibrahim Mwangalaba. Since taking office, Mr. Saitabau has focused on steering the Bank through a phase of strategic growth—anchored in Talent transformation, digital innovation, operational excellence, and inclusive banking—building on his extensive experience in the Tanzanian financial sector.
Mr. Saitabau brings over 18 years of banking experience and a proven track record in retail, corporate, and MSME banking, with core expertise in digital transformation, risk governance, and growth strategy execution. His leadership aligns with Maendeleo Bank’s vision to expand access to inclusive, technology-driven financial services across Tanzania.
Prior to joining Maendeleo Bank PLC, he served as Head of Wealth and Retail Banking at Standard Chartered Bank Tanzania Ltd, where he led a successful business turnaround, achieving double-digit growth in retail customer acquisition and expanding the bank’s digital offerings. In his previous role as Head of Business Banking, he championed strategic growth initiatives targeting the SME sector and enhanced financial inclusion through innovative lending models. Across both roles, he drove significant change management and agility in response to shifting customer and regulatory needs.
Throughout his career, Mr. Saitabau has demonstrated the ability to build high-performing teams, deliver sustainable financial outcomes, and lead complex transformations. His leadership philosophy combines strategic foresight with a strong commitment to customer-centricity, innovation, and community development.
He holds a Master of Business Administration (MBA) from ESAMI and a Bachelor of Commerce (Hons) in Corporate Finance from the University of Dar es Salaam. He is also a graduate of the CEO Apprenticeship Programme by the CEO Roundtable of Tanzania in collaboration with Strathmore University.
Under Mr. Saitabau’s leadership, Maendeleo Bank PLC has already begun executing key initiatives aligned with its long-term strategy, strengthening digital capabilities, enhancing customer experience, and expanding access to financial services across underserved communities. The Board remains confident in his ability to drive sustainable growth and deepen the Bank’s contribution to Tanzania’s economic development and financial inclusion agenda.

CPA. Peter Tarimo stepped into the Head of Risk and Compliance position in April 2023. Before this role, he was the Head of Finance at Maendeleo Bank. Preceding this, he served as the Internal Audit Manager at Maendeleo Bank Plc since its inception in 2013. With over 23 years of extensive experience in the banking sector, Mr. Tarimo has held diverse roles, including Finance Manager at Bank of Baroda, Head of Risk Management at DCB Bank, and Risk Manager at ACB Bank. He is a member of several professional bodies, including the Institute of Internal Auditors (IIA), the Global Association of Risk Professionals (GARP), the National Board of Accountants and Auditors (NBAA), and the Tanzania Institute of Bankers (T.I.O.B). He also holds a Certificate of Proficiency in Insurance (COP).
In his spare time, Peter enjoys reading and listening to gospel music.

CPA Nolasco Charles assumed the role of Head of Finance at Maendeleo Bank PLC in October 2023. Prior to this, he served as the Acting Head of Finance at FINCA Microfinance Bank from February 2023, following a two-year tenure as Finance Manager at the same institution. With over a decade of experience as a Treasury Manager, Nolasco played a pivotal role in elevating FINCA Microfinance Bank’s Treasury function to meet banking standards. He led the development and implementation of policies, procedures, processes, and systems, contributing significantly to FINCA’s transformation from an NGO to a leading Microfinance Bank in the country. His expertise in financial management, treasury operations, and strategic planning continues to drive excellence in his role at Maendeleo Bank PLC.