CRDB boss named among Africa's top bankers
CRDB Bank’s managing director, Mr Abdulmajid Nsekela
Dar es Salaam. CRDB Bank’s chief executive officer Abdulmajid Nsekela has been named among Africa’s top bank officials who have played an important role in revolutionizing the industry across the continent.
Mr Nsekela is the only Tanzanian who made it to the list of 50 most reputable bank CEOs in Africa for 2021, as recognized by Reputation Poll International – a global reputation-management firm. The CEOs were recognized for their role in enabling African banks to rebound faster to pre-crisis levels.
Covid-19 pandemic had struck a blow to the banking industry across the globe but the African banks which have seen a decline in the average return on equity from 14 percent in 2019, to seven percent in 2020 are better than their peers in the developed markets.
It is estimated that if economic recovery goes as planned, by 2022 the African banks should rebound to their pre-Covid-19 revenue levels, whilst the banks in developed markets will only rebound by 2024.
The firm then recognizes top officials of African banks for their service.
“They have helped their banks attain a great height of performance,” stated the Reputation Poll International. Mr Nsekela said he was humbled to be on the list which includes CEOs of leading Africa banks. “This award does not belong to me but to all CRDB staff, management and the board as it’s a result of team work.”
He pointed out that despite the Covid-19 disruption, CRDB Bank has continued to deliver a strong balance sheet underlined by growth in both net interest and non-funded incomes.
“We recovered in areas that had exhibited weakness in the course of the year, thanks to an adaptive strategy and timely interventions,” he said.
“We have accelerated our digital transformation projects to ensure that we serve our customers effectively while also observing health guidelines,” he said.
“Our focus is to drive usage of our digital channels such as SimBanking, Internet banking as well as agents, which will reduce the necessity of our customers visiting our branches,” Mr Nsekela added.
Mr Nsekela joined CRDB Bank as chief executive in 2018. The bank increase its profit by 87 percent to Sh120 billion in 2019 from Sh64.2 billion in 2018.
