Why CRDB won 2023 SMEs award

 

By Alex Nelson Malanga

Business journalist

Summary

·         CRDB Bank, which was recently named the Best SME Bank in Tanzania by the London-based Global Finance magazine, said the award was testimony to its continuing support for SMEs across Tanzania

Dar es Salaam. CRDB Bank’s unwavering support to the growth of small and medium-sized enterprises (SME) has caught the eye of international institutions, with the latest being an international financial publication known as the Global Finance.

Global Finance, which is based in London, recently named CRDB Bank the Best Bank for SMEs in Tanzania.

Global Finance, which named only five lenders in Africa as the best SME banks, seeks to help corporate leaders, bankers, and investors to chart the course of global business and finance.

CRDB Bank director of retail banking Bonaventure Paul said recently that the award was a great honour and testimony to their everlasting support for SMEs across Tanzania.

“Our performance in the SME sector results from strong strategic partnerships that we have been able to develop and thus strengthen our funding capabilities,” he said.

Recently, CRDB Bank received 150 million euro loan from the European Investment Bank, which will enhance access to finance by micro, small and medium-sized enterprises across Tanzania.

The EIB backed credit line will support business growth, contribute to gender equality and empowerment of women, and enable blue economy companies to invest in a better future.

CRDB Bank was recognised as the best bank for SMEs in Tanzania based on independent research, with input from industry insiders, executives, and technology experts.

They used criteria such as knowledge of SME markets and needs, breadth of products and services, market standing and innovation, according to a press release availed to the media yesterday.

This recognition further highlights CRBD Bank’s commitment to enabling the success of its customers by ensuring that every Small and Medium Enterprise business owner gets the support needed to meet their everyday banking needs.

The 2023 Best SME Bank award is based on the performance from April 1, 2021, to March 31, 2022.