CRDB Bank's dedication to entrepreneurs earns Africa's Best SME Bank award
What you need to know:
- The award was presented during a high-profile ceremony held on the sidelines of the African Development Bank (AfDB) Annual Meetings in Abidjan, Côte d’Ivoire
Dar es Salaam. CRDB Bank has been named Best SME Bank in Africa at the 2025 African Banker Awards, thanks to its transformative approach to financing small and medium-sized enterprises (SMEs), particularly women- and youth-led businesses, through innovative products, digital solutions, and strategic partnerships.
The award was presented during a high-profile ceremony held on the sidelines of the African Development Bank (AfDB) Annual Meetings in Abidjan, Côte d’Ivoire.
This year’s theme—“Climate Change and Sustainable Development”—highlighted the role of financial institutions in accelerating inclusive and green economic growth across the continent.
The recognition comes as CRDB Bank marks 30 years of operations, during which it has disbursed loans worth over Sh1.2 trillion to more than 230,000 entrepreneurs across Tanzania, with tailored offerings that have helped small businesses grow and formalise.
In addition to winning the Best SME Bank award, the bank received three other nominations: Banker of the Year for CEO Abdulmajid Mussa Nsekela, Best Bank for Sustainable Development, and AFAWA Bank of the Year, under AfDB’s Affirmative Finance Action for Women in Africa initiative.
CRDB Bank’s Chief Commercial Officer, Mr Boma Raballa, who received the award on behalf of the bank, said the win reflects the institution’s deep commitment to serving entrepreneurs with accessible, responsive, and future-ready financial services.
“This award is a testament to our belief that inclusive economic growth begins with empowering small businesses,” said Mr Raballa. “It belongs not just to CRDB, but to the entire community of entrepreneurs who trust us to walk the journey with them.”
CRDB was the first bank in Tanzania to establish a dedicated SME department in 2000.
In 2024, it revamped its flagship Biashara Account, expanded financing opportunities, and introduced digital payment tools such as LIPA HAPA and point-of-sale (PoS) devices, enabling businesses to operate more efficiently.
The bank also introduced targeted products like Mkopo wa Komboa, which helps importers clear goods from ports without delays, thus improving production and supply chain timelines.
Its suite of services includes trade finance and asset financing, designed to unlock growth for small enterprises.
Beyond financial products, CRDB facilitates global exposure for Tanzanian entrepreneurs by sponsoring international study tours, giving them a competitive edge in regional and global markets.
In recent years, the bank has mobilised over $700 million (Sh1.8 trillion) in funding through strategic collaborations with global and local partners, including AGF, PROPARCO, DFC, GuarantCo, GCF, PASS and TADB.
These partnerships have significantly expanded its capacity to finance SMEs.
“In our 30-year journey, we have learned that sustainable development starts with empowering the grassroots economy. That’s why we are deepening our reach, especially to women and young entrepreneurs,” added Mr Raballa.
The bank’s latest honour reaffirms its strategic focus on small business growth under its 2023–2027 Medium-Term Business Strategy, which places SMEs at the heart of CRDB’s mission to accelerate inclusive development.
