DR. ABDULMAJID NSEKELA EARNS PhD, REINFORCING CRDB BANK'S GOVERNANCE-DRIVEN TRANSFORMATION

Pretoria, South Africa, June 12, 2026 – CRDB Bank Group Chief Executive Officer and Managing Director, Dr. Abdulmajid Mussa Nsekela, has graduated with a Doctor of Philosophy (PhD) from the University of South Africa (UNISA), achieving a significant academic milestone that reflects his commitment to excellence in leadership, governance, and sustainable banking.

Dr. Nsekela was awarded the doctoral degree following the successful completion of his thesis titled "Corporate Governance and Financial Performance of East African Banks: The Moderating Role of Information Leakage."

The research examines the relationship between corporate governance, transparency, and financial performance within East Africa's banking sector. It highlights how information leakage can negatively impact institutional effectiveness, while strong governance frameworks and disciplined disclosure practices strengthen resilience, investor confidence, and long-term growth.

The findings closely align with Dr. Nsekela's professional philosophy and leadership approach, which have been shaped by more than two decades of experience in banking, corporate finance, risk management, and executive leadership. Throughout his career, he has consistently championed sound governance and sustainable financial practices across the region.

Leadership Rooted in Continuous Learning

Speaking after the graduation ceremony, Dr. Nsekela described the achievement as a reflection of a lifelong commitment to learning and personal growth.

"This academic journey has been rooted in knowledge, curiosity, and continuous growth. Strong governance, as my research underscores, is not theoretical—it is the foundation upon which sustainable financial performance and institutional trust are built across East Africa," he said.

He also expressed gratitude to his professors, academic supervisors, and the broader UNISA community for their support throughout his doctoral studies. Special appreciation was extended to his family for their patience, understanding, and encouragement during the demanding academic journey.

Dr. Nsekela further encouraged fellow business leaders across Tanzania and Africa to embrace continuous education.

"To my fellow managing directors and chief executive officers in Tanzania and across Africa, learning is a continuous journey. We must deliberately create time to acquire new knowledge and skills that enhance our leadership capabilities, strengthen our decision-making, and ultimately improve the performance and sustainability of our institutions," he noted.

Transforming CRDB Bank into a Regional Powerhouse

Since assuming leadership of CRDB Bank Plc in October 2018, Dr. Nsekela has overseen one of the most remarkable transformations in East Africa's banking industry.

Under his stewardship, the bank's share price increased from TZS 95 in 2018 to approximately TZS 3,000 by June 2026. During the same period, dividends rose from TZS 8 per share to TZS 90 per share, demonstrating significant value creation for shareholders.

Financial performance has also improved dramatically. Profit after tax surged from TZS 64.1 billion in 2018 to TZS 728.6 billion in 2025—an increase of more than 1,000 percent within seven years. The growth has been widely attributed to disciplined execution, strong governance practices, and data-driven decision-making.

Advancing Digital Banking and Financial Inclusion

A defining feature of Dr. Nsekela's tenure has been the acceleration of digital transformation and financial inclusion initiatives.

Today, more than 98 percent of CRDB Bank's transactions are conducted through digital channels. The bank serves over 7.2 million customers through an integrated network of branches, ATMs, CRDB Wakala agents, and mobile banking platforms, significantly expanding access to financial services across Tanzania and beyond.

The bank has also made notable strides in sustainable finance. In 2019, CRDB became accredited by the Green Climate Fund (GCF) as a Direct Access Entity, enabling it to facilitate large-scale climate financing initiatives in Tanzania.

In 2022, the bank secured USD 200 million for the Tanzania Agriculture Climate Adaptation Technology Deployment Programme (TACATDP), while also expanding its portfolio through Islamic banking and bancassurance services.

Strengthening Regional Expansion

Beyond Tanzania, CRDB Bank has continued to strengthen its regional footprint through operations in Burundi and the Democratic Republic of the Congo, complemented by a representative office in Dubai.

These strategic investments have enhanced cross-border trade, investment flows, and partnerships, positioning the bank as an increasingly influential financial institution within Africa's growing economic landscape.

The bank has also broadened its ecosystem through the establishment of the CRDB Bank Foundation and CRDB Insurance Company, while supporting the creation of the Co-operative Bank of Tanzania (CBT). These initiatives reflect a governance-led approach to institution building and long-term value creation.

Recognition for Excellence

Dr. Nsekela's leadership achievements have earned widespread recognition across the continent. Among other accolades, he has been named Tanzania's Best Executive of the Year and African Banking Leadership Personality of the Year.

He has also served as Chairman of the Tanzania Bankers' Association and currently holds leadership positions as a board chairperson and non-executive board member in more than ten public and private sector institutions.

Board Chair Commends Academic Achievement

CRDB Bank Group Board Chairperson, Prof. Neema Mori, congratulated Dr. Nsekela on the achievement, noting the strong connection between his academic work and the bank's transformation.

"Dr. Nsekela has positioned CRDB Bank as a leader in sustainable finance and governance, becoming one of the first banks in East and Central Africa to receive accreditation from the UN Green Climate Fund," she said.

"His PhD thesis reinforces how sound corporate governance and effective information management directly influence financial performance—principles clearly reflected in CRDB Bank's transformation."

Prof. Mori added that the achievement demonstrates the powerful relationship between academic excellence and business leadership.

"His journey demonstrates that scholarship and strategic execution are mutually reinforcing. CRDB Bank's success stands as a case study of how strong governance, informed leadership, and continuous learning can transform an institution into a regional powerhouse."

A Model for Africa's Future Leaders

Dr. Nsekela's doctoral achievement extends beyond personal accomplishment. It serves as a compelling example of how African leaders can combine intellectual rigor, innovation, and strategic execution to build resilient institutions capable of driving sustainable economic growth.

As CRDB Bank continues its growth trajectory, Dr. Nsekela's latest milestone reinforces the importance of knowledge, governance, and lifelong learning as critical pillars for the future of Africa's financial sector.