CRDB Bank chief Nsekela on list of 25 top African finance leaders

Dar es Salaam. The managing director for CRDB Bank Plc, Mr Abdulmajid Nsekela, has been named as one of the 25 top African Finance Leaders in 2023, thanks to his leadership role in the lender’s innovative policies, programs and actions that have partly helped to foster financial inclusion even during challenging times.

Mr Nsekela, who has been at the helm of CRDB Bank Plc for about five years now, was named as such last week by The African Leadership Magazine (ALM), according to a statement released by CRDB Bank Plc in Dar es Salaam yesterday.

The ALM Group Managing Editor, Mr Kingsley Okeke, said awarding event in Portsmouth in the United Kingdom that the list was arrived at following a rigorous merit-based selection process by the magazine’s editorial board.

“This list, which draws from finance ministers, central bank governors, as well as Chief Executives of leading banking, finance and development institutions from across Africa, is a showcase of finance leaders helping in the drive to finance Africa’s development and those who through strong fiscal and macroeconomic policies have enhanced the national economic outlook and especially supported the growth of small businesses in spite of current global economic climate,” he said.

The list was unveiled during the African Finance Leaders’ Networking Cocktail, in Washington DC on April 13th, 2023 at the National Press Club, Washington DC, USA on the margins of the annual World Bank Group / IMF 2023 Spring meetings.

Those listed, said Mr Okeke, emerged through a two-step points-based selection process that include nominations by ALM’s global pool of writers, as well as experts in the African banking and finance industry.

After that, the editorial board conducts a final review of the nominations and submissions – using supporting evidence and voting considerations in their final decisions.

Speaking about the award, Mr Nsekela said it was encouraging to note that various stakeholders were recognizing his role in the bank’s operations, promising to continue working closely with CRDB Bank’s board of directors and management for the lender’s services to reach many more people.

He said during the Covid-19 pandemic, CRDB Bank Plc came up with a number of innovative ways to sustain its operations and ensure that its services reach and benefit corporate bodies as well as Micro, Small and Medium Enterprises alike.

“The Bank of Tanzania has also been steadfast in giving us the direction that enabled such to continue doing business despite the challenges of the global Covid-19 pandemic, the increase in fuel prices and now, the war in Ukraine,” he said.

Among the initiatives, by working with its various partners, CRDB Bank Plc managed to raise Sh500 billion last year for loaning to small scale businesses, with the focus being largely on women entrepreneurs.

It also reduced interest on loans to the agricultural sector from 20 to nine percent while that of personal to employees dropped to 13 percent.