KEY POINTS
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CRDB Bank secures $120 million for East Africa.
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FinDev Canada, DEG, and Shelter Afrique back new deals.
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Funding targets women, youth, and climate resilience.
CRDB Bank, one of East Africa’s largest financial groups led by Abdulmajid Nsekela, has secured more than $120 million in new international financing to expand lending to entrepreneurs, small and medium-sized businesses, and affordable housing projects across the region.
The deals were finalised during the World Bank and IMF Annual Meetings in Washington, D.C., marking one of the biggest funding rounds in the bank’s 30-year history. The move highlights CRDB’s expanding influence in regional development and its growing role in promoting financial inclusion across Tanzania, Burundi, and the Democratic Republic of Congo.
Building partnerships to fuel entrepreneurship
At an investors’ forum held on the sidelines of the meetings, CRDB signed three separate financing agreements with FinDev Canada, DEG of Germany, and Shelter Afrique Development Bank. FinDev Canada, the Canadian government’s development finance institution, committed $60 million to back women and youth-led enterprises, while also funding projects in green innovation and climate adaptation.
Germany’s DEG, part of the KfW Group, added $50 million to help small and mid-sized businesses expand operations and create employment. Shelter Afrique Development Bank provided a $10 million facility dedicated to low-cost housing in the DRC, a project designed to reduce the country’s housing deficit and stimulate its construction industry.
Altogether, the Tsh300 billion ($120 million) package highlights the confidence international investors have in Tanzania’s financial system and CRDB’s credibility in managing regional partnerships.
CRDB Bank expands financial access in East Africa
CRDB’s deal with FinDev Canada focuses on improving access to capital for women and youth, groups often excluded from mainstream banking. “By working with partners like FinDev Canada, we’re creating space for more women and youth-led businesses to thrive,” said Abdulmajid Nsekela, CRDB’s Group CEO. “Every dollar invested should create real outcomes—more jobs, more entrepreneurs, and stronger communities.”
Beyond entrepreneurship, CRDB plans to channel the funds into renewable energy, sustainable agriculture, and climate resilience projects, ensuring that growth aligns with Africa’s sustainability goals.
A 30-year record of growth and innovation
Founded in 1996 and headquartered in Dar es Salaam, CRDB has transformed from a domestic retail lender into one of East Africa’s most influential financial institutions. Since Nsekela became CEO in 2018, the bank has focused on digital banking, sustainability, and financial inclusion as key growth drivers.
Publicly listed on the Dar es Salaam Stock Exchange since 2009, the bank manages assets exceeding $5 billion and operates in three countries. According to Billionaire Africa, in 2022, it became the first Tanzanian bank to issue a green bond, raising $10 million for renewable energy and sustainable farming initiatives.
As it marks three decades in operation, CRDB’s latest funding push cements its mission to use finance as a tool for opportunity. By linking global capital to local ambition, the bank continues to bridge East Africa’s financing gap—one entrepreneur, one project, and one community at a time.
