CRDB Bank Chief Executive Officer has been named as one of the 25 leaders with a great economic contribution to Africa.
The recognition by UK’s African Leadership Magazine (ALM) came almost five years since he was appointed head of the largest lender in the country.
ALM Magazine, Group Managing Editor Mr Kingsley Okeke said the list of these leaders has considered their contribution in the preparation of friendly policies, careful leadership and programmes that touched and involved more citizens in the economy, thus helping to avoid the dangers that emerged in the world and helping to revive and grow of theirs economies.
“This list, which includes finance ministers, central bank governors and executive directors of banks as well as large financial institutions in Africa, has highlighted leaders who have dedicated themselves uniquely to managing the development of their nations,” Mr Okeke said adding:
“Especially by enabling small entrepreneurs to participate in building the economy by providing them with capital and other opportunities despite the challenges witnessed around the world.”
The awards given and announced held over the weekend in UK went through a long process involving the editorial board of ALM newspaper to recognise the roles played by government leaders, private companies and even international organisations.
Since the emergence of Covid-19, the bank has designed several programs that have been implemented in the country and have touched ordinary citizens as well as raised the businesses of entrepreneurs from small to large.
Mr Nsekela said that it encourages him to see the major stakeholders of ALM Magazine see what he is doing, and will continue to set careful strategies in collaboration with the board and management of CRDB to reach more citizens and give them the opportunities they deserve.
“Throughout the period, the Bank of Tanzania was strong giving guidelines that allowed us to do business despite the challenges that existed when we were fighting all the challenges starting from Covid-19, the rise in oil prices and now the war between Russia and Ukraine,” said Mr Nsekela.
In the last five years, CRDB had implemented programmes that eased access to credit for the private and the public sectors while building its own capital capacity by cooperating with several international stakeholders.
Last year alone, the bank collected more than 500bn/- for the empowerment of entrepreneurs in the country with a strong focus on women.
The bank has also been taking steps to reduce interest as part of supporting the government’s efforts to strengthen the economy.
Last year, the lender reduced the interest on agricultural loans from 20 per cent to 9.0 per cent, an effort that went hand in hand with the reduction of interest on salary workers’ loans to 13 per cent.
Additionally, CRDB in collaboration with the Zanzibar government allocated 60bn/- to help develop the blue economy by providing interest-free loans to small entrepreneurs in the islands.
“There is still a lot to be done to enable citizens to take advantage of the economic opportunities available in their areas. CRDB continues to expand to reach them wherever they are,” the CEO said.
The bank recently opened new branches in Shirati, Bukombe, Ikwiriri, Mafia, Kilwa Kivinje, Liwale, Kaliua, and Nkasi.
Nsekela while pointing out that the expansion of branches goes hand in hand with regional expansion and that the bank is in the final stages of entering DR-Congo.
The bank also continues to strengthen its digital service platforms while its CRDB Wakala network which now has over 25,000 agents across the country.
“We believe that if every citizen uses banking services where he is, it will make it easier to increase his income and thus grow the national economy,” said Mr Nsekela.
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