CRDB Foundation’s Sh3 billion Ilemela plan

Media/news company

Mwananchi Communications Limited

Mwanza. More than 7,000 women entrepreneurs have benefited from a financial inclusion programme after CRDB Bank Foundation announced a Sh3 billion initiative aimed at supporting women-owned businesses in Ilemela and Mwanza Region.

The programme, implemented in collaboration with Kafiti Foundation, also included the disbursement of about Sh760 million in seed capital as part of the broader empowerment package.

The Mwanamke na Kafiti conference brought together women entrepreneurs from across the region and was officially opened by Mwanza Regional Commissioner Said Mtanda, who represented the Minister for Community Development, Gender, Women and Special Groups Dorothy Gwajima.

Mr Mtanda said women play a key role in household and national development, urging them to utilise available financial opportunities to grow their businesses.

He also cautioned against excluding spouses from financial decisions, saying this could lead to household disputes when businesses face challenges.

“There are cases where loans are taken without informing partners, which later creates conflict when repayment becomes difficult,” he said.

CRDB Bank Foundation Executive Director TullyEsther Mwambapa said the institution, established in 2023, focuses on expanding financial inclusion among women, youth and marginalised groups.

She said the Sh3 billion allocation will support entrepreneurs in Ilemela and across Mwanza Region through business financing and capacity-building programmes.

“This initiative is designed to help entrepreneurs grow their businesses and improve their livelihoods,” she said.

Ms Mwambapa said the foundation works with partners to promote financial literacy, entrepreneurship, access to markets and business formalisation.

So far, the foundation has reached more than 1.25 million entrepreneurs across sectors including agriculture, fishing, small-scale mining, informal trade and small industries.

CRDB Bank Chief Commercial Officer Boma Raballa said the bank has disbursed more than Sh513 billion in the Lake Zone, with Sh240 billion directed to Mwanza Region.

He said the bank continues to focus on reaching entrepreneurs who are outside the formal banking system.

Kafiti Foundation Executive Director Mapuli Kafiti said the broader goal is to empower more than five million entrepreneurs through partnerships with key stakeholders.

Ilemela MP William Kafiti said the programme is part of ongoing efforts to improve livelihoods and strengthen economic participation among residents.