CRDB Bank defends core system upgrade as ‘crucial, necessary’

Dar es Salaam. CRDB Bank Plc has defended its recent core banking system upgrade, insisting that the move was not just a technical necessity but a strategic leap forward.

According to the bank’s management, the overhaul was part of a long-term strategy to strengthen its digital backbone, enhance transaction speed and security, and position CRDB to compete not only in Tanzania but also across the region.

Speaking at a press conference held at the Bank’s headquarters here in the city yesterday, CRDB Bank’s director of communications, Ms Tully Esther Mwambapa, acknowledged that during the transition, some customers experienced short-term challenges, which is normal in major system upgrades.

“Today, I am pleased to inform you that our services are back to normal and these changes have laid a strong foundation for delivering services in Tanzania, Burundi, the DRC, Dubai, where we are expanding and in other new markets we are entering,” she said.

She explained that this transformation is part of CRDB Bank’s Medium-Term Strategy (2023–2027), which places technological innovation at the core of the bank’s growth and the broader economy.

According to her, CRDB group chief executive, Mr Abdulmajid Nsekela, was recently invited to participate in the US–Africa Business Forum held alongside the 80th United Nations General Assembly (UNGA) in New York, where the bank’s transformation was recognized as a model for Africa and the world.

Ms Mwambapa said the transformation has opened doors for international collaborations, including agreements signed on the sidelines of UNGA with the Crop Trust organization to strengthen food security through climate-smart agriculture, and with the DIFC financial institution to support small and medium-sized entrepreneurs.

In addition, the bank signed a technological cooperation agreement with global technology firm Huawei to enhance digital transformation, system security, and the use of Artificial Intelligence (AI).

“This cooperation is strategic and will create major opportunities for smallholder farmers through climate-smart agricultural technologies, for businesses through more secure financial services, and for development sectors through digital and AI innovations,” she said.

She added that the new system has also strengthened the bank’s ability to provide world-class services to individual customers, businesses, and corporations in Tanzania, Burundi, and the DRC, while also creating a stable foundation for expansion into new markets worldwide.

“As you know, we recently obtained approval to open our office in Dubai, a step that reaffirms CRDB Bank’s position as a bridge between Africa and international markets. This is a strategic move to connect our customers with capital, technology, and new opportunities available in global markets,” Ms Mwambapa added.

She said despite the international recognition, CRDB Bank acknowledges its responsibility to continue improving services, investing in innovation, and ensuring that every step taken brings positive transformation in the lives of its customers and drives economic growth.

She emphasized that the system transformation is not only a demonstration of the bank’s boldness, but also a sign of its strength and resilience in overcoming challenges and moving forward with confidence.

Moreover, the Governor of the Bank of Tanzania (BOT) Emmanuel Tutuba, commended the bank’s transformation during a special meeting with the CRDB’s CEO, Mr Nsekela.

According to the bank’s statement the governor noted that the transformation of the bank’s core banking system is a strategic step that demonstrates the maturity of the banking sector in Tanzania.