CRDB BANK CEO HOLDS TALKS WITH CHIEF SECRETARY JOHN KIJAZI, PROMISE TO ENHANCE BUSINESS RELATIONS

The Chief Secretary, Engineer John Kijazi urged CRDB Bank to push for more Public-Private Partnership and financial inclusion endeavors to spur economic growth. Ambassador Kijazi made the remarks during a meeting with CRDB Bank's delegation led by the Chairman of Board of Directors Ally Laay and Managing Director Abdulmajid Nsekela who visited his office in Dar es Salaam recently.

In his remarks, Chief Secretary Kijazi pointed out that commercial Banks are the fundamental partners in complementing the government's drive towards industrialization and financial inclusion.

"The Government is keen on fostering the Public-Private Partnership as well as the financial inclusion drives, commercial Banks are our essential partners in the area of capacity building, network and projects financing through credit facilities. May I take this opportunity to applaud CRDB Bank for taking a lead role in supporting and offering financial solutions to various governments’ infrastructural projects. The Government strongly encourages other banks to take an active role in spearheading these projects as they are of fundamental benefits to the country’s economic growth” said the Chief Secretary.

Ambassador Kijazi also congratulated Mr. Nsekela on his appointment as the new Managing Director and CEO of CRDB Bank stating that the government is confident in his capabilities. “We have a lot of faith in you, the government being amongst the largest shareholders of the Bank, is expecting you to spearhead taking CRDB Bank into new milestones. You have our support”.

On his part, CRDB Bank Managing Director, Mr. Abdulmajid Nsekela thanked ambassador Kijazi on behalf of the government for continued support and vowed to continue strengthening business relations for mutual benefits. “We at CRDB have a motto that says “Tupo-Tayari,” which elucidates our readiness in embarking and providing financial solutions to all viable projects from both public and private sectors. We recognize the significance in financing development projects as they contribute to our economic growth through trickledown effects” said Mr. Nsekela.

CRDB Bank is one of the significant players in the project financing business, having taken an active role in issuing performance guarantees, bonds and working capital, as well as other banking services to various high profile projects in the country.

Mr. Nsekela also said that CRDB Bank has recently put major emphasis on retail and SMEs taking into consideration that more than 5 million Tanzanians are self employed or own small business entities which is probably one third of country’s economy. “We are most interested in retail and SME banking because we see that as an engine for growth and employment,” added Mr. Nsekela.

During the courtesy call, the CRDB Bank CEO was accompanied by Chairman of the Board of Directors Ally Hussein Laay, who exuded confidence in the bank’s new strategic direction. The Chairman also affirmed to the Chief Secretary that, CRDB Bank is on course to employ a number of initiatives to improve productivity and as a result increase returns to shareholders.