Tanzania: 10th Anniversary in Burundi Crdb Eyes Poll Position in Burundi

CRDB Bank Burundi has issued some 300 billion francs (341.69bn/-) in loans to various sectors of the economy mostly in agriculture, industry and tourism in the first nine months of this year.

The bank, which is celebrating a decade of serving Burundi this week, said in the last ten years climbed the market ladder to become number three out of 13 banks.

Thus, the central bank of Burundi (BRB) yesterday commended CRDB Burundi for the great success achieved in a decade of serving the Burundians through a press release.

BRB’s First Deputy Governor, Desire Musharitse, shower the praise on behalf of the Governor when the CRDB delegation led by the Group CEO and Managing Director, Abdulmajid Nsekela, accompanied by members of the board visited the central bank to express gratitude as part of the 10th anniversary of Burundi subsidiary operations.

Mr Musharitse said the central bank was pleased with the presence of CRDB in Burundi since the lender has become part of the facilitation of many economic projects while contributing immensely to empowering traders.

“In 2015, we encountered a major challenge in accessing foreign currency but CRDB lend us a hand: a friend in need is a friend indeed,” Mr Musharitse said, “CRDB is a friend indeed.”

In a decade, CRDB one of the largest lenders in Tanzania, opened four branches while the fifth branch is expected to be opened early next year.

“Due to the good performance of CRDB in Burundi,” the First Deputy Governor said, “we wish to see it open more branches outside Bujumbura and be able to issue loans and other services using digital channels,” Mr Musharitse.

Mr Nsekela thanks the central bank for its cooperation with CRDB Burundi which led the subsidiary to register great success in just 10 years and also Burundi under President Evariste Ndayishimiye for providing land in Gitega for the bank to build its headquarters in Bujumbura.

“Our presidents not only wish to see cooperation between Tanzania and Burundi in the private sectors but also financing strategic projects between these two countries, like railways. “We are ready to support our subsidiary to participate in the railway project on the Burundi side as we did on the side of Tanzania,” he said.

Mr Nsekela said they entering in DR-Congo soon will contribute massively to promoting trade between Burundi and DRC also trade with other member states of the East African Community (EAC).

CRDB Burundi’s Chairman Hosea Kashimba said the Burundi economy is heading in the right direction and the bank pedalling in the same direction and soon envisaging taking the leadership position.

“We see a good direction for the economy and we believe that within a short period we will be able to be the leading bank in Burundi,” Mr said Kashimba, who is also the Director General of the Public Service Social Security Fund (PSSSF).

The 10th anniversary has been accompanied by various social activities aiming to thank the community that enabled CRDB Burundi to excel in the market.

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