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4 | African Leadership
4 | African Leadership
FROM THE PUBLISHER’S
Desk
Africa spent decades being polite at
global meetings. We showed up on
time. We sat where they told us. We
waited for powerful nations to decide
our fate. We were on the menu. We
were rarely at the table.
That ended during the G20 summit in
Johannesburg. It was the first one on
African soil. Something changed. The
Johannesburg Declaration is not just a
win for diplomats. It is a breakthrough.
The global economic agenda is no
longer just about Africa. It is by Africa.
The Elephant in the Room:
You cannot ignore the silence in the
hall. The United States did not show
up. This absence mattered. It forced
everyone else to find a new path.
The Global South and Europe had
to work together. We saw Ubuntu in
action. The summit theme “Solidarity,
Equality, Sustainability” became a
survival strategy.
Global cooperation does not need
permission from one capital city. The
traditional powers stepped back.
Africa and its partners stepped up.
Three Real Victories
People call these summits talk shops.
They are wrong. This declaration lists
three changes. You will see these
impact entrepreneurs, farmers, and
students.
1. Debt Relief That Works
I have said this for years. Africa does
not need pity. We need fair access to
capital.
The summit fixed the Common
Framework for Debt Treatments. We
moved past the delay tactics. The
new deal focuses on fixing the system.
Countries like Ghana and Zambia get
a path to growth. They will not have
to cut healthcare budgets to pay
bondholders.
We are dismantling the unfair risk
premium on African innovation.
2. We Keep Our Minerals
The Critical Minerals Framework is a
big win.
We will stop digging up lithium in
Zimbabwe or cobalt in the DRC just to
ship it away cheap. The G20 agreed
to process materials at the source.
Companies must build factories here.
This is smart economics. The world
needs our resources for green
energy. Johannesburg made it clear.
If you want the minerals, you build the
industry here.
3. Training Our People
Infrastructure fails without people to
run it.
The G20 Africa Skills Multiplier
Initiative launches now. It plans to train
one million certified trainers over ten
years. This builds nations. It fits my
Africa Forward vision. Our youth are
an asset. We will unleash them.
The Road Ahead
Do not be naive. A declaration is not
the finish line. The work starts Monday
morning.
The Partnership for African
Infrastructure promised billions. We
have seen pledges disappear before.
But this time is different.
We have agency. We are not waiting
for a savior. South Africa led the way.
The African Union stood united. We
are the ones we have been waiting for.
World leaders listened. Now we work.
We set the rules. Now we play the
game. We win.
Dr. Ken Giami
Founder, African Leadership Magazine UK
G20 and the 2025 Johannesburg
Declaration: The Weekend Africa Took
the Lead
www.africanleadershipmagazine.co.uk | 5
TABLE OF
CONTENTS
08
Africa Needs Its Own
Financing System
34
Can General Abdelkerim
Charfadine Turn Chad’s
Informal Gold Mines Into a
Model Industry?
38
Making Gender Count in
African Development Finance
46
Climate Financing: Debt-To-
Nature And Debt-For-Climate
Swaps
52
Fixing the African risk
premium: How AfCRA can
unlock fair financing
56
The Rise of Africa’s Renewable
Energy Sector: Balancing Risk
and Opportunity
12
66
26
6 | African Leadership
40
60
Governance and Investor
Confidence in Africa: Bridging
the Trust Gap to Unlock Capital
22
30
74
www.africanleadershipmagazine.co.uk | 7
8 | African Leadership
| FINANCE LEADERSHIP
AFRICA NEEDS ITS
OWN FINANCING
SYSTEM
8 | African Leadership
Carlos Lopes is a member of the UN International
Commission of Experts for the Fourth International
Conference on Financing for Development
| BUSINESS/ECONOMY
www.africanleadershipmagazine.co.uk | 9
Reforms of a development-finance system that is structurally
misaligned with Africa’s needs can achieve only so much. Rather
than lobbying for incremental changes to the international financial
system, Africa should focus on building robust regional and
continental institutions that leverage African capital for African needs.
CAPE TOWN – Like many other multilateral forums, this month’s
Fourth International Conference on Financing for Development (FfD4)
may well produce impressive declarations and laudable promises.
But will lofty rhetoric be translated into concrete progress in lowering
the structural and systemic barriers to financing development
in Africa, including deteriorating debt sustainability, dwindling
concessional finance, and declining access to affordable capital?
Africa’s debt crisis did not emerge overnight. It is the result of years
of chronic underfinancing, which forced countries to borrow for even
the most basic investments. Between 2010 and 2021, the share of
Africa’s public external debt owed to private creditors rose from 30%
to over 44%. And private loans mean very high interest rates, which
run in the 7-10% range, on average, with some countries, such as
Ghana and Zambia, facing rates above 12%.
The problem lies partly with credit-ratings agencies, which tend to
take a pro-cyclical approach, downgrading countries – and driving up
borrowing costs – precisely when they are most vulnerable. Between
2021 and 2023, for example, Moody’s downgraded Ethiopia, Ghana,
and Tunisia to “deep junk” status, despite their fiscal-consolidation
efforts. Such decisions are not only opaque; they reflect external risk
perceptions, rather than empirical criteria. According to the United
Nations Development Programme, credit rating agencies’ inflated
risk perceptions cost the 16 African countries that issued bonds an
estimated $74.5 billion by 2020.
Global banking regulations, which were tightened in the wake of
the 2008 global financial crisis, further constraining Africa’s access
to finance. The Basel III framework, introduced in 2011 under
the auspices of the Bank for International Settlements, increased
minimum capital-adequacy ratios, introduced a minimum leverage
ratio, and raised liquidity coverage requirements. Such changes
diminished international lenders’ appetite for risk – and, thus, their
willingness to work with African borrowers.
By 2020, many African countries’ debt burden was so heavy that
any unexpected crisis would plunge them into severe debt distress.
And then the COVID-19 pandemic arrived. To be sure, the G20
devised interventions to help debt-distressed countries: the Debt
Service Suspension Initiative and the Common Framework for Debt
Treatments. But the results were mixed. When Chad, Ethiopia,
Ghana, and Zambia sought relief through the Common Framework,
they faced protracted negotiations, uncertain timelines, and
tightened conditionality – all of which heightened perceived risk and
deterred market re-entry.
Profit-shifting by multinationals to low- or no-tax jurisdictions,
together with illicit financial flows, are an additional drain on African
countries’ resources. According to UN Trade and Development,
Africa loses over $88.6 billion to illicit financial flows each year –
nearly equivalent to the continent’s annual infrastructure financing
gap.
Reforms of a
development-
finance system
that is structurally
misaligned with
Africa’s needs
can achieve only
so much. Rather
than lobbying for
incremental changes
to the international
financial system,
Africa should
focus on building
robust regional
and continental
institutions that
leverage African
capital for African
needs
BUSINESS/ECONOMY |
10 | African Leadership
10 | African Leadership
Meanwhile, the promise of official
development assistance continues to
unravel. According to the OECD, total
net ODA to Africa in 2024 was just $42
billion, representing a 1% real decline
in real terms from the previous year. At
the same time, donor countries reported
$27.8 billion in “in-donor refugee costs”
– up from $12.8 billion in 2021 – which is
counted toward their ODA contributions.
Today, high-income countries are cutting
their aid budgets further, with the United
States the most extreme example.
Many argue that the key to closing
the development-financing gap lies in
strengthening African representation
at institutions like the International
Monetary Fund and broadening access
to existing debt-relief and development-
financing mechanisms. But such reforms
can achieve only so much in a system
that is structurally misaligned with
Africa’s needs.
Rather than fight for incremental global
reforms, Africa should focus on building
robust regional and continental financing
mechanisms that leverage African
capital for African needs. The African
Development Bank (AfDB), with its clear
development mandate and ability to
catalyse broad-based action, can act
as the cornerstone of such an African
financing system. The African Export-
Import Bank, with its trade-finance
Rather than fight
for incremental
global reforms,
Africa should
focus on building
robust regional
and continental
financing
mechanisms that
leverage African
capital for African
needs. The African
Development Bank
(AfDB), with its
clear development
mandate and
ability to catalyse
broad-based
action, can act as
the cornerstone
of such an African
financing system
| BUSINESS/ECONOMY
www.africanleadershipmagazine.co.uk | 11
Africa has a young
population, vast
natural resources,
and fast-growing
digital networks.
But it lacks the
financial sovereignty
to make the most
of these and other
assets. African
leaders must stop
lobbying for access
to frameworks that
do not serve their
countries’ interests,
and start asserting
control over their
own financial future
instruments and growing influence,
would also have a role to play, as
would sovereign wealth funds, national
development banks, pension funds, and
others.
These institutions should pool resources,
co-invest in strategic sectors, and devise
new instruments to mitigate risk and
enhance credit provision. For example,
African-based guarantee schemes that
reduce the cost of capital for investments
in infrastructure and the green transition
would create incentives for lending to
small and medium-size enterprises and
support the establishment of shared
standards – vital to facilitate regional
financial integration.
At the same time, African countries
must boost revenue by strengthening
tax administration, closing loopholes,
and reducing exemptions. Regional
cooperation, together with new digital
tools, can go a long way toward
measuring companies’ profits, tracking
cross-border flows, and identifying
systemic tax evasion.
Multilateral financial institutions still have
an important role to play in delivering
financing to Africa, but their approach
must change fundamentally. For starters,
far more lending should take place
in local currencies, thereby reducing
countries’ vulnerability to exchange-rate
volatility. Longer repayment periods and
respect for national policy priorities are
also essential.
Africa has a young population, vast
natural resources, and fast-growing
digital networks. But it lacks the financial
sovereignty to make the most of these
and other assets. African leaders must
stop lobbying for access to frameworks
that do not serve their countries’
interests, and start asserting control over
their own financial future. This means
mobilising capital, building institutions,
and defining their own criteria for
development success. FfD4 can help
to kick-start this process, but only if
participants recognise that closing the
development-financing gap is a political
problem, not a technical one.
BUSINESS/ECONOMY |
| FINANCE LEADERSHIP
| COVER
POSITIONING
CRDB AS
TANZANIA’S
MARKET LEADER
12 | African Leadership
12 | African Leadership
By Blessing Ernest
www.africanleadershipmagazine.co.uk | 13
CRDB Bank Plc, a commercial bank that operates as a private,
integrated financial services provider in Tanzania and East Africa,
was at a familiar juncture for African banks: balancing rapid growth
with mounting complexity. Abdulmajid Nsekela, a veteran of nearly
three decades in East African finance, came to CRDB with the
understanding that numbers alone cannot define the next chapter.
“Strategy without empathy for the customer and the frontline is
hollow,” he tells African Leadership Magazine during an exclusive
interview. Reflecting on the years he spent moving from branch officer
to roles in risk, governance, and strategic planning, the grounding in
the realities of day-to-day banking has shaped every decision he has
made as CEO since he assumed the position in October 2018.
The Tanzanian banking sector has changed rapidly over the past
decade. Mobile money platforms, digital lending, and cross-border
trade corridors are redefining what it means to be a bank in East
Africa. CRDB, under Nsekela, responded by rethinking the institution’s
operating model. Efficiency, customer-centricity, and innovation
became guiding principles, transforming a bank that had long been
a domestic leader into a forward-looking institution with regional
ambitions. The move echoes strategies seen in Kenya’s Equity Bank
or Nigeria’s Access Bank, which have also leveraged digital channels
to scale rapidly while keeping trust intact.
EXCERPT
You have led CRDB Bank through a remarkable period of
growth and transformation. Could you share key moments
in your leadership journey that have shaped your vision and
management philosophy?
When I look back on my leadership journey, I often joke that I’ve worn
many hats — from my early days as a branch bank officer, through
operations, risk, and strategic planning, to my current role as Group
CEO of CRDB Bank Plc. Each stage has taught me something
invaluable, but three moments stand out as the most defining.
In my early years as a “generalist” banker, I rotated through operations,
control functions, and people management. Those experiences
grounded me in the reality of what truly happens when a customer
walks through the door. They taught me that strategy without empathy
for the customer and the frontline is hollow.
Later, when I transitioned into strategic leadership, I took on roles
in financial and strategic planning, risk, governance, auditing, and
compliance. It was during this phase that I realised a bank’s real
strength lies not merely in growth rates, but in the soundness of its
infrastructure, the discipline of its risk management, and a deeply
ingrained culture of accountability.
Then, in October 2018, when I assumed the role of CEO, CRDB
Bank stood at a critical crossroads. We made a deliberate decision
to modernise and reposition the institution. The new operating model
we rolled out in 2019 placed efficiency, innovation, and customer-
centricity at its core - and the transformation that followed reaffirmed
that our focus was right.
These defining chapters have shaped my leadership philosophy: to
lead from the front, stay grounded in operations, listen before acting,
The Tanzanian
banking sector has
changed rapidly
over the past
decade. Mobile
money platforms,
digital lending,
and cross-border
trade corridors are
redefining what it
means to be a bank
in East Africa
COVER |
14 | African Leadership
ensure the entire organisation is aligned
to a common purpose, and above all,
never lose sight of the human behind the
balance sheet.
As one of Tanzania’s foremost
banking leaders, what personal values
and guiding principles define your
approach to leadership and decision-
making?
If I were to distil my leadership philosophy
into three guiding values, they would be
humility, integrity, and relentless curiosity.
Humility, to me, is at the heart of true
leadership. I have always believed that
leadership is a form of service; it is not
about being the loudest voice in the
room, but about creating space for the
best voices to be heard. My role is to
empower teams, to listen with intent, and
to ensure that every decision we make
reflects respect for the people we serve.
Integrity is equally non-negotiable.
In banking, trust is everything. Our
decisions must withstand not only
the test of time but also the scrutiny of
regulators, shareholders, and, above all,
our customers. The very fabric of CRDB
Bank is woven with this value - it’s what
sustains confidence in our institution
and what guides us when choices are
complex or pressures are high.
Then there is relentless curiosity. This
is the force that keeps us evolving.
The financial world is transforming at
breathtaking speed: digital innovation,
SME empowerment, financial inclusion,
and sustainability. I constantly ask
myself and my teams, “What can we do
differently? How can we leapfrog rather
than follow?” That curiosity is what keeps
Integrity is equally
non-negotiable.
In banking, trust
is everything. Our
decisions must
withstand not only
the test of time but
also the scrutiny
of regulators,
shareholders,
and, above all, our
customers. The
very fabric of CRDB
Bank is woven
with this value -
it’s what sustains
confidence in our
institution and
what guides us
when choices
are complex or
pressures are high
| COVER
www.africanleadershipmagazine.co.uk | 15
Our strategy as a
Bank is anchored
on four core pillars
that have guided our
journey of growth
and transformation.
The first is customer-
centric digital
transformation. We
recognised early
on that the future
of banking lies in
accessibility, speed,
and trust. This led
us to move swiftly
into agency banking,
mobile banking,
and digital lending,
expanding our
footprint across the
country
COVER |
us agile, relevant, and ahead of the curve.
When it comes to decision-making, I
strive to strike a balance between data
and instinct. Rigorous analysis (of risk,
compliance, and financials) provides
the discipline, while intuition - shaped
by listening to our people and sensing
market sentiment - brings the human
element. Above all, every decision must
pass one test: does it advance our
purpose of being inclusive, trustworthy,
and future-ready?
CRDB Bank has maintained an
impressive culture of innovation
and accountability. How have you
cultivated this across such a large and
dynamic institution?
Building both innovation and
accountability at scale is a delicate
balance - one that relies on three
interlocking levers.
The first is a clear sense of purpose and
strategy. At CRDB Bank, we established
a definitive “north star” built on three
pillars:- financial inclusion, customer-
centricity, and digital transformation.
This clarity of direction ensures that every
team member, from the head office to
our branches and agents in the field,
understands what we are collectively
striving to build. When purpose is clear,
innovation has focus, and accountability
has meaning.
The second lever is governance
combined with empowerment. We
have worked hard to strengthen the
backbone of the Bank through robust risk
frameworks, compliance structures, and
internal controls. But equally important is
giving our people the freedom to act. We
encourage our teams (especially those
on the frontlines) to identify customer
pain points and test solutions quickly.
As I often say, “We ask ourselves how
we can innovate, and then we execute
the solutions immediately.” This dual
approach ensures that innovation
happens within a disciplined framework,
not outside of it.
The third is measurement, feedback,
and culture. We track our progress
meticulously - whether through our cost-
to-income ratio, digital transaction share,
or financial inclusion indicators. We
celebrate successes openly, learn from
missteps honestly, and continuously
adapt. Accountability is nurtured when
results matter and people feel genuine
ownership of outcomes. At the same
time, we sustain a culture of openness:
if someone has a better idea, they are
encouraged to bring it forward.
In essence, innovation thrives best when
people are free to explore but grounded
in responsibility. That’s the equilibrium
we strive to maintain every day at CRDB
Bank.
Under your leadership, CRDB Bank
has consolidated its position as a
market leader in Tanzania. What
strategic pillars have driven this
sustained success?
Our strategy as a Bank is anchored on
four core pillars that have guided our
journey of growth and transformation.
The first is customer-centric digital
transformation. We recognised early
on that the future of banking lies in
accessibility, speed, and trust. This led
us to move swiftly into agency banking,
mobile banking, and digital lending,
expanding our footprint across the
country. Our goal has always been clear
- to deliver convenience without ever
compromising the trust our customers
place in us.
16 | African Leadership
The second pillar is inclusive growth. We
have deliberately focused on reaching
underserved segments of the population
(small and medium enterprises,
agribusinesses, and rural communities)
because inclusion is not only a moral
imperative, it is a smart business
strategy. When more people and
businesses participate in the economy,
growth becomes both broader and more
resilient
The third pillar is operational excellence
and risk discipline. We firmly believe
that growth without discipline is
unsustainable. Over the past few years,
we have refined our cost-to-income
ratio, strengthened governance, and
enhanced asset quality. These efforts
have paid off, translating into improved
efficiency and greater financial resilience.
Finally, our fourth pillar is regional
ambition and diversification. We chose
not to remain comfortable within
Tanzania’s borders. By expanding
into neighbouring markets, we have
diversified our risk, extended our reach,
and unlocked new opportunities for
growth.
Together, these four pillars have not
only enabled CRDB Bank to scale
sustainably but have also solidified our
position as a trusted market leader -
one that continues to grow with purpose,
prudence, and vision.
Financial inclusion remains central
to CRDB’s mission. How has the
bank leveraged technology and
partnerships to reach underserved
communities and SMEs?
Financial inclusion, for us at CRDB
Bank, is far more than a slogan - it is
a strategic imperative that defines who
we are and why we exist. We believe that
a truly strong economy is one in which
everyone, from smallholder farmers to
urban entrepreneurs, has access to
affordable and reliable financial services.
To achieve this, we have approached
inclusion through three interconnected
pathways.
First, we have embraced digital and
agency channels to extend our reach
beyond traditional banking boundaries.
Rather than relying solely on building
more branches, we leveraged our
Wakala agent network, mobile banking
platforms, and digital services to connect
with customers in even the most remote
parts of the country. Today, a significant
share of our transactions takes place
through these digital and alternative
channels, proving that technology can
bridge the gap between urban and rural
economies.
Second, we have designed tailored
products specifically for SMEs and the
rural economy. We recognise that small
and medium enterprises, as well as
agribusinesses, operate under different
dynamics compared to large corporates.
Their cash flows are seasonal, their
risks unique, and their growth patterns
distinct. In response, we created lending,
savings, and advisory solutions that
reflect their realities - helping them not
just to survive, but to thrive.
Third, we have forged strong
partnerships with FinTech companies,
mobile network operators, government
agencies, and development partners.
These collaborations allow us to share
risk, expand our reach, and build
capacity more efficiently. By working
together, we amplify impact and reduce
Financial inclusion,
for us at CRDB
Bank, is far more
than a slogan
- it is a strategic
imperative that
defines who we
are and why we
exist. We believe
that a truly strong
economy is one in
which everyone,
from smallholder
farmers to urban
entrepreneurs,
has access to
affordable and
reliable financial
services. To
achieve this, we
have approached
inclusion
through three
interconnected
pathways
| COVER
www.africanleadershipmagazine.co.uk | 17
the cost of serving customers at the base
of the pyramid.
The outcome of these efforts is tangible:
more Tanzanians (particularly those
in underserved areas and within small
business communities) now have access
to formal banking, credit, savings, and
digital financial services than ever before.
Financial inclusion has become not just
part of our mission, but a measurable
driver of Tanzania’s broader socio-
economic progress.
The agricultural and SME sectors
are vital to Tanzania’s economy. How
is CRDB supporting these areas to
promote inclusive and sustainable
growth?
Indeed, agriculture and SMEs are the
backbone of Tanzania’s economy - and
they deserve banking solutions built for
their realities, not borrowed from large-
corporate playbooks. At CRDB Bank we
support them via:
•
Agribusiness value-chain financing
- We provide financing tied to
production cycles, processing, off-
take agreements, input supply and
export logistics. This helps farmers
and agribusinesses move from raw
output to value-added operations.
•
SME ecosystem development -
Beyond finance, we link SMEs to
advisory services, digital tools,
market-access and capacity-
building. This helps them become
bankable, grow sustainably and
employ more Tanzanians.
•
Sustainability lens - We deliberately
encourage sustainable practices
in agriculture (climate-smart,
resilient farming) and SMEs (energy
efficiency, waste-reduction, circular
economy). This is because inclusive
growth must also be resilient growth.
In my view, when SMEs and
agribusinesses thrive, the whole nation
benefits - more employment, more
productivity, more inclusive prosperity.
CRDB’s expansion into Burundi
marked an important milestone in
its regional journey. What inspired
this move, and how do you envision
CRDB’s broader East African
footprint?
The decision to expand into Burundi
through CRDB Bank Burundi (and to
pursue broader regional ambitions)
The decision
to expand into
Burundi through
CRDB Bank
Burundi (and to
pursue broader
regional ambitions)
stemmed
from a simple
but powerful
realisation:
Tanzania is not
an island, either
economically or
in opportunity. Our
growth story is
deeply intertwined
with that of our
neighbours in
East and Central
Africa, and it was
only natural that
our vision evolved
to reflect this
regional reality
COVER |
18 | African Leadership
stemmed from a simple but powerful
realisation: Tanzania is not an island,
either economically or in opportunity.
Our growth story is deeply intertwined
with that of our neighbours in East and
Central Africa, and it was only natural
that our vision evolved to reflect this
regional reality.
Burundi was a strategic starting point
for several reasons. Its proximity to
Tanzania, shared cultural and economic
characteristics, and similar financial
inclusion challenges made it a logical
and meaningful next step. We saw an
opportunity to bring Tanzanian-style
banking solutions (grounded in trust,
innovation, and inclusivity) to a market
eager for accessible and reliable financial
services.
Our regional footprint vision is clear: to
build a trusted Pan-East-African bank
that combines global best practices with
local understanding. We aim to serve
customers seamlessly across borders,
support trade and commerce, empower
SMEs, and provide families with financial
solutions that transcend geography. The
goal is not expansion for its own sake,
but meaningful growth that strengthens
regional integration and prosperity.
Our execution mindset is guided by
prudence and purpose. We are not
driven by the desire to be everywhere
first, but to be the right bank in every
market we enter — one that delivers
digital access, local relevance, and
responsible growth.
In essence, CRDB Bank is on a
transformative journey ( moving from
leading in Tanzania to leading in the
region) with the same commitment to
excellence, inclusivity, and sustainable
impact that defines our foundation.
Sustainability and responsible
banking are now key global priorities.
How is CRDB integrating ESG
principles and green finance into its
operations?
Sustainability today is not a choice - it
is a necessity. At CRDB Bank, we see it
not as a side initiative but as an integral
part of our business model, embedded
in everything we do. It defines how we
grow, how we invest, and how we create
value for our stakeholders.
Our journey began with a clear
commitment to green financing and
climate resilience. Under my leadership,
CRDB Bank became the first financial
institution in Tanzania to secure direct
accreditation from the Green Climate
Fund (GCF). This milestone allows us to
channel resources into climate-resilient
agriculture, renewable energy, and
technology adaptation - empowering
communities to withstand and thrive
amidst the realities of climate change.
Beyond financing, we have embedded
ESG frameworks into our strategy and
governance. We align our operations
with global sustainability standards such
as the UN Sustainable Development
Goals, and we evaluate every client
relationship through environmental,
social, and governance lenses. Our
annual and sustainability reports capture
not only our financial performance
but also our progress in advancing
responsible banking.
We also look inward. Through our
internal practices, we are digitising
operations to reduce paper use and
minimise our environmental footprint. We
champion diversity and inclusion within
our workforce, ensuring that our internal
culture mirrors the values we advocate
externally. Sustainability, for us, starts
from within - in how we treat people,
manage resources, and make decisions.
Finally, we believe in value-added
partnerships. We work closely
with development agencies, non-
governmental organisations, and private
sector actors to scale sustainable
business models that drive long-term
impact. Through these collaborations,
banking becomes more than a financial
service - it becomes a catalyst for
societal good.
To me, being a responsible bank means
striking a meaningful balance: serving
our customers profitably, rewarding our
shareholders fairly, and contributing
positively to society and the planet. At
CRDB, we pursue all three with equal
seriousness - because true success
must be shared, sustainable, and
enduring.
Our regional
footprint vision is
clear: to build a
trusted Pan-East-
African bank that
combines global
best practices
with local
understanding.
We aim to serve
customers
seamlessly
across borders,
support trade
and commerce,
empower SMEs,
and provide
families with
financial solutions
that transcend
geography.
The goal is not
expansion for its
own sake, but
meaningful growth
that strengthens
regional
integration and
prosperity
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www.africanleadershipmagazine.co.uk | 19
Collaboration often fuels growth.
Could you highlight a few strategic
partnerships that have strengthened
CRDB’s innovation and regional
presence?
Partnerships have been absolutely
central to how we scale - enabling us
to grow faster, act smarter, and deliver
impact more meaningfully. They are the
bridges that connect our ambitions with
the realities of the markets we serve.
Our FinTech and digital partnerships
have been especially transformative.
By collaborating with mobile-money
networks, agent networks, and digital
solution providers, we have extended
banking services into remote and
previously underserved areas. These
collaborations have significantly
lowered our cost-to-serve, accelerated
innovation, and made financial access
more inclusive.
Equally important are our development
partner alliances. Our partnership with
the Green Climate Fund, for instance,
has allowed us to introduce climate
finance to Tanzania on a scale that truly
moves the needle. Beyond that, our
collaboration with regional trade-finance
institutions has strengthened our ability
to support SMEs and facilitate cross-
border trade -two pillars of East Africa’s
economic integration.
We have also formed regional banking
alliances as part of our expansion
journey. In Burundi, and as we explore
new markets, we continue to work
closely with local regulators, domestic
banks, and global investors. These
alliances not only mitigate entry risks but
also help us localise quickly, ensuring
our solutions align with the realities and
needs of each market.
Finally, our agribusiness and corporate
supply-chain partnerships have been
instrumental in fostering inclusive
economic growth. By teaming up with
key players along the agricultural value
chain (from input suppliers and off-takers
to exporters) we have designed financing
models that are efficient, sustainable,
and empowering to farmers and small
enterprises alike.
Through all these collaborations, we
don’t just execute our strategy - we
amplify it. Each partnership expands our
reach, deepens our impact, and brings
us closer to our vision of building a more
connected, inclusive, and sustainable
regional banking ecosystem.
The African banking landscape
is rapidly evolving with fintech
disruption and digital transformation.
How is CRDB positioning itself to stay
ahead of the curve?
In today’s era of rapid technological
evolution, being reactive is no longer
enough - we must stay several steps
ahead. At CRDB Bank, we have
embraced a forward-thinking approach
that keeps us not just relevant but ahead
of the curve.
We have adopted a digital-first mindset,
where technology is no longer an enabler
but the foundation of how we operate.
Our focus on digital channels, data
analytics, and platform-based thinking
has transformed the way we serve
customers. Today, more than 90% of
our transactions take place through
digital and alternative channels - a
clear reflection of our progress toward
becoming a truly digital bank.
In today’s era of
rapid technological
evolution, being
reactive is no
longer enough - we
must stay several
steps ahead. At
CRDB Bank, we
have embraced a
forward-thinking
approach that
keeps us not just
relevant but ahead
of the curve
COVER |
20 | African Leadership
Our culture of continuous innovation
ensures that we are always exploring the
next frontier. We constantly ask ourselves
not only “what works now?” but “what’s
next?” This mindset drives us to pilot
new products, test them rapidly, and
scale those that succeed. Agility and
experimentation are built into our DNA.
Through an open architecture and
strong partnerships, we have developed
systems that seamlessly integrate with
emerging technologies - from FinTech
modules and third-party APIs to digital
wallets and agent networks. This
flexibility allows us to adapt quickly to
changing customer needs and market
dynamics, giving us the agility that
defines modern banking leaders.
At the intersection of customer-centricity
and data science, we leverage data
insights to understand customer
behaviour, personalise services,
anticipate risks, and deliver more efficient
and intuitive solutions. Every digital
interaction becomes an opportunity to
learn, improve, and deepen relationships.
Finally, none of this is possible without
our people and culture. We continue to
invest in our teams - equipping them
with digital skills, fostering innovation
mindsets, and encouraging cross-
functional collaboration. This focus on
talent ensures that CRDB remains agile,
adaptive, and future-ready.
In short, we are not just keeping pace
with change - we are deliberately building
to lead it.
What is your long-term vision for
CRDB Bank and its role in advancing
financial integration across East
Africa and the continent?
My long-term vision for CRDB Bank is
bold yet firmly grounded in reality - a
vision that builds on our strengths while
looking far beyond national borders.
I see CRDB becoming Africa’s bank
Our culture
of continuous
innovation ensures
that we are always
exploring the
next frontier. We
constantly ask
ourselves not only
“what works now?”
but “what’s next?”
This mindset drives
us to pilot new
products, test them
rapidly, and scale
those that succeed.
Agility and
experimentation
are built into our
DNA
| COVER
www.africanleadershipmagazine.co.uk | 21
Finally, we
envision a future
of seamless
financial
integration
across the region
- a marketplace
where a Tanzanian
entrepreneur, a
Burundian trader,
or a Congolese
manufacturer
can transact
effortlessly,
with banking
that transcends
borders. CRDB
intends to be
at the very
centre of that
ecosystem, driving
connectivity and
prosperity across
Africa
of choice, starting from East Africa
and expanding outward across the
continent. Our ambition is to be more
than a Tanzanian or Burundian success
story - to be a trusted, locally rooted,
and digitally enabled financial institution
that is regionally integrated and globally
respected.
At the heart of this vision is our role
as an enabler of trade, enterprise,
and inclusion. We aim to empower
small and medium-sized enterprises,
agribusinesses, and the drivers of the
digital economy. By facilitating cross-
border trade and regional value chains,
we contribute not only to the success
of individual businesses but also to
the broader economic integration and
resilience of our region.
We also aspire to lead in sustainable
banking - championing a model
that balances profitability with social
responsibility and environmental
stewardship. We believe a modern
African bank must help build the future
of the continent responsibly, investing
in initiatives that support green finance,
inclusion, and long-term sustainability.
Equally, we are committed to delivering
exceptional shareholder value. Our
growth strategy is designed to reward
those who have placed their trust in
us through consistent performance,
disciplined expansion, and reliable
returns. In 2024, for example, we
achieved our highest-ever profit after tax
of TZS 551 billion, with assets growing by
25.3% and our loan book expanding by
22.7% - a clear testament to our financial
strength and operational focus.
Finally, we envision a future of seamless
financial integration across the region
- a marketplace where a Tanzanian
entrepreneur, a Burundian trader, or a
Congolese manufacturer can transact
effortlessly, with banking that transcends
borders. CRDB intends to be at the
very centre of that ecosystem, driving
connectivity and prosperity across Africa.
In essence, this is a vision of a bank built
not for Africa’s past, but for Africa’s future
- innovative, inclusive, sustainable, and
proudly homegrown.
Finally, as a transformational leader,
what legacy do you hope to leave
at CRDB Bank, and what message
would you share with Africa’s next
generation of banking leaders?
The legacy I hope to leave at CRDB
Bank is one of relevance, resilience,
and impact. I want to leave behind an
institution that continues to matter - not
just to its shareholders, but to every
Tanzanian and East African who feels
seen, understood, and empowered by
what we do. My dream is for people to
say, “I bank with CRDB because they
understand me, they empower me, and
they lead the future.” That, to me, would
be the greatest measure of success.
I want the culture we have built (one of
innovation, inclusion, and responsibility)
to endure long after my time in leadership.
If, thirty years from now, people point to
CRDB Bank as a model of Africa-led
banking excellence - an institution that
set the standard for purpose-driven
leadership on the continent - then I will
know that I truly did my part.
To Africa’s next generation of banking
leaders, I offer this message: lead
courageously, but humbly. The world
needs change-makers, not ego-builders.
Remember that leadership is not about
power, but about service. Serve people,
not just balance sheets, because
financial institutions exist to enable lives,
businesses, and communities to thrive.
Embrace risk, but with discipline, for
real growth and innovation are born
from the balance between boldness
and governance. Never stop learning,
because the banking landscape is
changing faster than ever - from digital
transformation to climate finance,
regulation, and geopolitics. Curiosity will
keep you relevant. And above all, stay
anchored to purpose. When your “why”
is clear (whether it’s financial inclusion,
empowerment, or sustainability), the
“how” will always reveal itself.
To you, the next generation: the baton is
now in your hands. Run with vision, run
with integrity, and run for impact. Africa’s
story in banking is still being written -
and you are its authors.
COVER |
By Blessing Ernest
PURPOSE OVER
POWER: INSIDE
GOVERNOR SULE’S
APPROACH TO
GOVERNANCE
22 | African Leadership
| POLITICS/GOVERNANCE