Tanzania’s CRDB bank boosts African financial access with $120 million deal

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At a Glance

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• CRDB Bank secures $120 million to expand small business and housing finance in East Africa.
• FinDev Canada, DEG, and Shelter Afrique back inclusive growth and women-led enterprises.
• New funding strengthens CRDB’s regional footprint and commitment to sustainable, impact-driven banking.

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CRDB Bank Plc, one of Tanzania’s largest financial institutions, has signed three partnerships valued at $120 million with FinDev Canada, Germany’s DEG, and Shelter Afrique Development Bank.

The deals aim to widen access to finance for small businesses, women-led enterprises, and affordable housing projects across East Africa.

The agreements were formalized during the CRDB Bank Investors and Partners Forum held in Washington, D.C., alongside the World Bank and IMF Annual Meetings. 

The event drew investors and senior officials from Tanzania, Burundi, and the Democratic Republic of Congo (DRC), highlighting growing interest in Africa’s financial inclusion efforts.

New capital targets women entrepreneurs and green projects

“Finance should be a force for good unlocking potential, creating jobs, and building value for communities,” said Abdulmajid Nsekela, CRDB Bank’s group chief executive officer and managing director. “These partnerships with FinDev Canada, DEG, and Shelter Afrique reflect our shared commitment to an inclusive and sustainable Africa.”

Under the new financing framework, FinDev Canada will provide a $60 million sustainability-linked facility to boost lending to micro, small, and medium-sized enterprises (MSMEs), particularly those led by women and businesses focused on climate resilience.

Germany’s DEG, part of KfW Group, will offer a $50 million credit line to help small firms expand and generate employment. Shelter Afrique Development Bank will contribute $10 million to fund affordable housing projects, starting with CRDB’s operations in the DRC.

Regional growth anchored in social impact

The collaborations reinforce CRDB’s focus on green finance and social impact lending—sectors gaining attention as African economies adapt to shifting global investment patterns.

“At Shelter Afrique, we see affordable housing and infrastructure as the foundation of inclusive growth,” said Thierno-Habib Hann, CEO of Shelter Afrique Development Bank. “Working with CRDB Bank allows us to channel capital toward dignity, opportunity, and long-term stability.”

Founded in 1996, CRDB Bank has grown into a regional financial leader with more than 240 branches, 650 ATMs, and 33,000 agents across Tanzania and neighboring markets. 

Its expansion into the DRC and the opening of a representative office in Dubai underline its ambition to serve as a bridge for regional and international investors.

With these new partnerships, CRDB Bank is reinforcing its role as a catalyst for inclusive finance and sustainable development aligning with Tanzania’s diversification goals and Africa’s broader drive toward impact-driven banking.