CRDB Bank Foundation’s Lifelong Commitment of Transforming the Lives of Tanzanians

Message from CRDB Bank Foundation Managing Director

Within the 30 years since the inception of CRDB Bank, a beautiful “child” has been born — the CRDB Bank Foundation which works very closely with the parent company to reaching out to the public and provide financial services.

Each year, the Bank through its corporate social investment actively supports community development projects particularly in the sectors of education, health, environment, and special groups, by allocating one percent of its profit after tax.

This has become a well-established tradition. As part of this commitment, the

Bank recognized the need to strengthen financial literacy and entrepreneurial training among citizens.

It is worth noting that one of the most common challenges faced by many people in the country is the lack of skills to manage the money they have or will earn, to sustain and grow their businesses or projects, and to pass them on to the next generation.

Reports show that many businesses in the country collapse within five years of being established, highlighting the lack of entrepreneurial skills. More significantly, only a small portion of Tanzanians use banking services.

However, the focus of our CRDB Bank has always been to improve people’s lives and stimulate economic growth through innovative products and services that enable more Tanzanians to access opportunities for economic empowerment.

CRDB Bank Foundation Managing Director, TullyEsther Mwambapa says to reach the unbanked and to educate those lacking entrepreneurial and financial literacy, the CRDB Bank Foundation was established in 2023 to tackle these challenges comprehensively.

The iMBEJU programme is now being implemented across the country, bringing services directly to the people, with a special focus on women, youth, and vulnerable groups.

iMBEJU is designed to empower entrepreneurs across all sectors of the economy, including business, agriculture, livestock, manufacturing, and technological innovation. So far, through our seminars we have reached out to over one million entrepreneurs and provided seed capital worth over Sh20.2 billion to those who meet the criteria.

To benefit from the seed capital we offer, women and special groups must be part of social entrepreneurial groups, undergo training, and operate a business. Being in a group exempts them from the need to have collateral when requesting capital ranging from Sh200,000 to Sh10 million.

The programme also benefits innovative youth with viable projects or ideas ready for implementation. These individuals can receive enabling capital of up to Sh100 million, depending on the scale of their projects.

To reach more beneficiaries and achieve our goals, we collaborate with partners who share our vision. These partners include public institutions and government agencies such as the Commission for Science and Technology (COSTECH), the ICT Commission (ICTC), local and international private companies, and United Nations agencies such as UNICEF and UNDP.

Through this strategic collaboration, CRDB Bank Foundation can reach target groups in more locations simultaneously and support their economic empowerment.

In addition to training and enabling capital, we help beneficiaries expand their market access by connecting them to local and international opportunities including those within the African Continental Free Trade Area (AfCFTA) and enabling their participation in international trade exhibitions.

We believe that empowering women, youth, and special groups is pivotal for national development. In line with National Development Vision 2025, which aims for a strong economy based on skilled and knowledgeable human resources, we are committed to ensuring that no one is left behind on the path to economic progress and financial freedom.