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Browsing: CRDB Bank Plc
- Tanzania-based CRDB bank has recognized the potential for growth opportunities in regional economies.
- CRDB Bank has established a presence in Burundi, Rwanda, Uganda, and DRC, following in the footsteps of Kenya’s Equity and KCB.
- CRDB Bank’s regional expansion aims to facilitate cross-border trade and enhance financial inclusion.
CRDB Bank is evolving into a partner for growth for East Africa’s entrepreneurs by seeking to replicate its success story in Tanzania across the regional markets. The bank has recognized the potential for growth and opportunities in neighboring countries and is strategically expanding its operations in East Africa.
In Tanzania, entrepreneurs are tapping into the lender’s range of products to scale into new growth horizons. Take Diana Tarimo for instance. When Diana received about $21,000 in business loans from CRDB, this became the catalyst she needed to expand her water distribution investments in suburban Dar es Salaam.
Diana is one of over 10,000 …
Most businesses are looking for digital options to conduct their businesses and banks are no exception. Already the economy was tipping towards digitizing most all its activities but with the onslaught of the coronavirus, digitizing is no longer optional but a must.
Banks are now pushing for 100 percent digital migration of their customers seeking at least 90 percent of their services to be offered remotely. In Tanzania, CRDB Bank has announced that it is aiming to increase online and simbanking to 90 percent by the end of the year.
To achieve this goal, the bank has launched a campaign to mobilize online and mobile phone services for all their customers. The bank is now working to raise public awareness and increase use on online services rather than going with the traditional way of standing in line at the bank.
The press release quotes a high ranking bank official, the …
The Tanzanian government on 24th April, 2019 released Tshs.688.65 billion ($299.4 million) in advance payment to the contractor of the 2,100 MegaWatts (MW)Rufiji Hydroelectric power project ahead of the start of the construction in June.
To be implemented jointly by Arab Contractors and Elsewedy Electric Company the project is now in mobilization stage which includes setting up of enabling infrastructure such as houses, roads and water prior to its official commencement.
Speaking during the handing over event, the Treasury Permanent Secretary Doto James said that payment was part of an estimated Tshs.6.5 trillion ($3 billion) to be wholly funded by the government.
`The issuance of the advance payment marks a crucial milestone towards commencement of the implementation of the project which upon completion will play a pivotal role towards realization of Tanzania`s industrialization strategy and attainment of middle income status by 2025, ` he declared.
The project will …