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CRDB pledges to support tobacco growers

Tabora Regional Commissioner, Dr Batilda Burian cuts a ribbon to mark the launching of a CRDB Bank branch at Igunga yesterday. Right is CRDB’s director of credit, Mr Xavery Makwi  the bank’s head of branch operations, Mr Justo Nghwelo (left). PHOTO | THE CITIZEN CORRESPONDENT.

By  Josephine Christopher

Josephine Christopher is a business reporter for The Citizen and Mwananchi newspapers.

Mwananchi Communications Limitted

What you need to know:

  • The bank revealed it has so far extended loans valued at Sh129 billion to tobacco farming alone from January to June 2023

Dar es Salaam. CRDB Bank has promised to continue improving agriculture financing in the Tabora Region.

The bank revealed it has so far extended loans valued at Sh129 billion to tobacco farming alone from January to June 2023.

The pledge was made by CRDB’s director of credit, Mr Xavery Makwi, during the opening of the bank’s new branch in Igunga. Mr Makwi said the new branch makes the total number of the lender’s network to be 253 branches across the country.

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"We recognise that agriculture is the backbone of our national economy, and we have dedicated significant efforts to support it, including our successful Fahari Kilimo Account with numerous benefits.This branch will be the gateway to economic opportunities for the people of Igunga, helping them improve their income," said Mr Makwi.

CRDB had five branches in the Tabora Region, serving the districts of Nzega, Sikonge, Tabora Municipality, Urambo, and Kaliua. The customers of the bank had also been utilising services provided by over 300 agents, including around 70 in the Igunga district.

Speaking during the launch, Tabora Regional Commissioner, Ambassador Batilda Burian, said Igunga District has numerous economic opportunities, and the availability of reliable banking services will stimulate the development of the residents.

"Many residents of this district depend on agriculture, so the opening of this branch will enhance productivity if more people can access loans with low interest rates below 10 percent provided by CRDB Bank," said Ambassador Burian.

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