Victoria Lupembe – GC Powerlist
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East Africa 2024

Financials

Victoria Lupembe

Head of legal and company secretary | Diamond Trust Bank Tanzania

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East Africa 2024

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Victoria Lupembe

Head of legal and company secretary | Diamond Trust Bank Tanzania

What are the most significant cases and transactions that your legal team has recently been involved in?

In my role as in-house legal counsel, my primary responsibility is overseeing the bank’s litigation portfolio, coordinating with external lawyers to ensure the protection of the bank’s interests through strategic and timely reviews. Approximately 80% of our litigation cases involve breach of contract, where we handle disputes involving customers who have defaulted on loan repayments or are vigorously contesting collateral disposals.

Additionally, I am entrusted with managing all legal transactions and addressing business-related legal issues, serving as the central point of reference for transaction support and providing legal advice to drive the bank’s operations. This dual focus allows me to effectively safeguard the bank’s legal interests while supporting its business objectives.

Which recent political, economic or regulatory changes have impacted your work the most recently?

In recent years, Tanzania has witnessed significant changes, notably in the realm of data protection. The introduction of data protection laws and accompanying regulations has prompted organisations to diligently comprehend legal requirements, reassess their operational frameworks, and implement measures to ensure compliance. This development is pivotal for the general populace, underscoring the government’s commitment to safeguarding data subjects. In a world where data has emerged as a paramount asset, I take pride in Tanzania’s proactive stance in protecting its citizens’ data.

As an in-house counsel, these developments have necessitated the appointment of a dedicated data protection officer and the comprehensive training of our legal team on data protection principles and practices.

Are there any causes, business or otherwise, that you are passionate about?

I embody the essence of pursuing one’s passion. My love for the law and passion for corporate governance are central to my beliefs. I firmly advocate that adherence to corporate governance serves as a driving force behind organisational excellence. Clearly defined responsibilities, effective communication channels, and strict adherence to rules and regulations ensure that every stakeholder within an organisation is well-positioned to seek information, contribute meaningfully, and participate in a high-performing entity.

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