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| Jessica Nyachiro, Managing Director, CRDB DR Congo. |
Dar es Salaam — CRDB Bank has officially expanded its operations to Kinshasa, the capital of the Democratic Republic of Congo (DRC), following a promising first year of business in Lubumbashi. This strategic move positions CRDB to deepen its presence in one of Africa’s fastest-growing financial markets.
Strategic Growth in the Congolese Market
The bank’s expansion into Kinshasa underscores its long-term commitment to the DRC. CRDB Group CEO, Abdulmajid Nsekela, highlighted that the Lubumbashi subsidiary has successfully laid the groundwork for broader market penetration by enhancing brand visibility, increasing retail presence, and executing targeted customer acquisition initiatives.
“While challenges remain, our long-term outlook for the Congolese market remains positive, underpinned by the country’s economic potential and CRDB’s commitment to strengthening its operational base,” said Mr. Nsekela in the bank’s 2024 financial report.
Performance Snapshot: Year One in DRC
Despite recording a post-tax loss of TZS 6.7 billion, CRDB’s DRC subsidiary reported promising performance indicators:
- Total deposits: TZS 22.1 billion
- Total assets: TZS 184.6 billion
- Loans and advances: TZS 5.7 billion
These figures reflect significant progress for a first-year operation, driven by rising demand for digital services and solid partnerships with both public and private institutions.
Digital Uptake and Operational Expansion
Jessica Nyachiro, Managing Director of CRDB DR Congo, stated that 2024 saw major strides in digital transformation and infrastructure development.
“The rollout of mobile and internet banking platforms helped increase customer touchpoints and transaction volumes, which in turn supported balance sheet growth and expanded our customer base,” she noted.
The bank also introduced SimBanking, internet banking, and VISA card services, enhancing cross-border payment capabilities and strengthening digital connectivity within the region.
Promoting Inclusion and Impact
Beyond banking, CRDB is advancing financial inclusion and social impact in the DRC:
- The first CRDB Bank Marathon was held in Lubumbashi to raise funds for the Jason Sendwe Hospital’s paediatric ward.
- Environmental Clubs were launched in primary schools to instill early awareness on sustainability.
“At CRDB Congo, we are committed to promoting financial inclusion and economic growth in the region,” said Ms. Nyachiro.
A Promising Economic Outlook
The DRC’s economy continues to benefit from the mining sector and favorable pricing for its key export products, offering fertile ground for financial institutions like CRDB to thrive and contribute to development.
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