CRDB Bank shareholders content with Nsekela’s leadership

Shareholders of CRDB Bank have expressed their strong desire to see the Group Chief Executive Officer, Dr Abdulmajid Nsekela, continue leading the Bank beyond the con­ventional 10-year leadership term, citing his energy, vision, experience, and exceptional ability to steer the institution to even greater heights.

Shareholders noted that their con­fidence in Dr. Nsekela’s leadership is driven largely by the significant value created for investors during his tenure at CRDB Bank.

When Dr Nsekela assumed lead­ership of CRDB Bank in 2018, the Bank’s share price at the Dar es Salaam Stock Exchange (DSE) stood at approximately Sh 95 per share. By April 2026, the share price had risen to around Sh 3,000 per share, a transformation many shareholders describe as one of the most remark­able value growth journeys ever witnessed in Tanzania’s financial sector.

In terms of dividends, share­holders received Sh 5 per share in 2018, but following the Bank’s record-breaking 2025 financial per­formance, shareholders approved a dividend of Sh 90 per share, repre­senting an increase of more than 1,000 percent.

CRDB Bank has also continued to rank among the most valuable list­ed companies on the Dar es Salaam Stock Exchange, with a market cap­italization exceeding USD 2.8 bil­lion, further strengthening investor confidence both locally and inter­nationally.

Mr. Godfrey Mosha, one of CRDB Bank’s founding shareholders since 1996, stated that throughout his time as a shareholder, he had never witnessed such extraordi­nary growth in shareholder value and business performance as seen during Dr Nsekela’s leadership. “Indeed, we have witnessed unprec­edented and historic growth within Tanzania’s financial sector,” he said.

“Since Dr Nsekela took over leadership, the Bank’s profits have increased by more than 1,000 per­cent. Total assets have grown from approximately Sh 7.6 trillion in 2018 to Sh 23.9 trillion in 2026. Customer deposits have increased from about Sh 4.8 trillion to Sh 16.2 trillion, while the loan book has expanded from approximately Sh 3.6 trillion to Sh 14.7 trillion. This is extraordi­nary growth. We should not allow this young leader to leave while he still has the strength and ability to take us even further,” Mr. Mosha remarked during the Bank’s 31st Annual General Meeting.

According to CRDB Bank’s Annu­al Report, this growth has enabled the Bank to maintain its leadership position in Tanzania’s financial sec­tor, commanding 28 percent market share in customer deposits, 27 per­cent of total banking sector assets, 29 percent of all loans issued by financial institutions, and 30 per­cent of total profit after tax among more than 40 banks operating in Tanzania. For many shareholders, these figures are not merely indi­cators of commercial success, but evidence of visionary leadership and effective strategic execution.

During the Annual General Meeting, shareholders spoke with one voice in commending the Bank’s outstanding achievements and expressing optimism about its future. Many emphasized that the success achieved over the past eight years clearly demonstrates how strong, visionary, and bold leader­ship can transform an institution.

Speaking at the meeting, former Prime Minister Frederick Sumaye remarked: “Across global financial markets, when a Chief Executive Officer is delivering exceptional per­formance at this level and without issues, they are not easily replaced. A leadership change can negatively impact share prices and institution­al performance because investor and customer confidence is often strongly tied to the CEO’s vision and leadership.”

Many shareholders highlighted the Bank’s “Evolve” strategy as one of the key initiatives that transformed CRDB Bank. Through this five-year strategic plan (2023–2027), the Bank has strengthened its digital infrastructure, expanded financial inclusion, extended services beyond Tanzania’s borders, enhanced cus­tomer experience, and delivered unprecedented shareholder value.

Today, more than 98 percent of all CRDB Bank transactions are con­ducted outside physical branches, reflecting the success of its technol­ogy investments. Additionally, 50 percent of new accounts are now opened through digital platforms, while 40 percent of all transactions take place outside normal branch operating hours. These develop­ments have positioned CRDB Bank among the leading institutions driv­ing digital transformation in East Africa.

CRDB Bank has also continued expanding its regional footprint beyond Tanzania. Through invest­ments in the Democratic Republic of Congo (DRC), Burundi, and its pres­ence in Dubai, the Bank has estab­lished itself as a key trade and finan­cial bridge connecting East Africa, Central Africa, the Gulf region, and Asian markets. This expansion has created broader opportunities for Tanzanian businesses, investors, and entrepreneurs to access region­al and international markets.

At only 54 years of age, many shareholders believe Dr Nsekela still possesses the strength, experi­ence, vision, and capability to con­tinue leading the Bank toward even greater milestones. They believe that upon successful completion of the “Evolve” strategy in 2027, CRDB Bank will be well-positioned to undertake an even more transform­ative growth agenda across Africa, building upon the strong founda­tion of leadership, innovation, and operational discipline already estab­lished.

“We appeal to our responsive Government to listen to us as share­holders of CRDB Bank because we still believe Dr Nsekela has the capability to lead us to even greater success as we prepare to implement the Bank’s next strategic business plan for 2028-2032,” said Mr. Che­dego, another founding shareholder, adding that based on Dr Nsekela’s proven performance, shareholders would find it difficult to see him leave.

Nonetheless, shareholders emphasized that they fully respect the laws and regulatory frame­works established by the Govern­ment and relevant authorities, not­ing that their request is motivated by the broader interests of CRDB Bank, the financial sector, and the nation at large. Their views have also received support from sever­al retired financial sector leaders and major shareholders, including retired CRDB Bank’s Group CEO, Dr. Charles Kimei and CRB Bank’s Board Chair, Dr Ally Laay, who have publicly expressed admiration for the Bank’s growth trajectory and operational resilience.

In the first quarter of 2026, CRDB Bank recorded another histor­ic milestone by leading across all major financial performance indica­tors in Tanzania. The Bank posted a profit after tax of Sh 206 billion, the highest quarterly profit ever record­ed by any bank in the country.

Its subsidiaries also continued to perform strongly, with CRDB Bank Burundi recording a profit of Sh 12.9 billion, CRDB Bank DR Congo posting a profit of Sh 828 million, and CRDB Insurance delivering a profit of Sh 1.8 billion. Meanwhile, CRDB Bank Foundation has contin­ued serving as a key empowerment platform for Tanzanians through the IMBEJU program, which has already impacted more than one million beneficiaries.

Against this backdrop of strong performance, shareholders resolved to form a committee led by Mr. Gachuma to formally present their views to the Government through appropriate channels regarding their aspiration to see Dr Nseke­la’s experience and vision continue guiding the Bank into its next phase of growth. For many shareholders, this discussion is not about an indi­vidual alone, but rather about insti­tutional stability, continuity of suc­cess, and safeguarding the growth momentum that has positioned CRDB Bank as a model financial institution across East and Central Africa.