{"id":10954,"date":"2020-06-23T15:26:36","date_gmt":"2020-06-23T15:26:36","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=10954"},"modified":"2020-06-23T15:26:36","modified_gmt":"2020-06-23T15:26:36","slug":"crdb-shortlisted-for-african-banker-awards","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/community\/crdb-shortlisted-for-african-banker-awards","title":{"rendered":"CRDB SHORTLISTED FOR AFRICAN BANKER AWARDS"},"content":{"rendered":"

AfricaPress-Tanzania:<\/strong> CRDB Bank, the largest homegrown financial services provider, has been nominated for the prestigious African Banker Awards thanks to last year\u2019s outstanding performance.<\/p>\n

The lender\u2019s efforts have not gone unnoticed after being nominated in two categories, Energy Deal of the Year and Infrastructure Deal of Year following its outstanding performance, posting a profit after tax of 120.1bn\/-last year.<\/p>\n

CRDB is involved in funding the two country\u2019s mega projects; Stigler\u2019s Gorge Rufiji Hydropower and Standard Gauge Railway (SGR).<\/p>\n

Speaking on the nomination, CRDB Group CEO and Managing Director, Abdulmajid Nsekela said the nomination in African Banker Awards demonstrates their long-standing commitment to support economic development in the country.<\/p>\n

\u201cOur focus is to create an enabling environment for the government by pursuing mutual partnerships to mobilise the finances required for the development projects,\u201d Mr Nsekela said through a release yesterday.<\/p>\n

African Banker Awards is the one of most prestigious event in Africa\u2019s banking and finance sector, The Awards, is held under the high patronage of the African Development Bank.<\/p>\n

The annual event, which takes place during the annual meeting of the African Development Bank, highlights the achievements of companies and individuals that contribute to the transformation and development of Africa\u2019s financial sector.<\/p>\n

The Stigler\u2019s Gorge Rufiji Hydropower Project, at 6.558tri\/- , is East Africa\u2019s largest hydro power station.<\/p>\n

The Project is part of the broad government agenda to drive industrialisation, seeing that electricity is a key requirement in the process.<\/p>\n

President John Magufuli is keen on reinvigorating the industrialisation drive, mooted during founding Father, Mwalimu Julius Nyerere\u2019s tenure, under the 1967 Arusha Declaration on Socialism and Self Reliance.<\/p>\n

CRDB Bank, in partnership with United Bank for Africa (Tanzania), have provided a 221 million US dollars (515bn\/-) local bank guarantee, for the joint venture between Arab Contractors, Osman Ahmed Osman and Company and Elsewedy Electric S.A.E of Egypt (AC-EE JV), signed with the Tanzania Electricity Supply Company, (TANESCO).<\/p>\n

The terms of the contract in the JV require foreign and local bank guarantees amounting to USD 737.5 million in form of performance guarantee and advance payment for the project.<\/p>\n

The hydro power project is set to produce 2100MW of electricity to be added to the national grid.<\/p>\n

The second project is the country\u2019s first SGR which would speed up the country\u2019s industrialisation drive.<\/p>\n

The project which is expected to be implemented in five phases, will link Dar es Salaam and Mwanza and eventually Rwanda and Burundi.<\/p>\n

The portion whose construction was launched is about 300 kilometres long, from Dar es Salaam to Morogoro. The project is undertaken by Yapi Merkez Insaat Ve Sanayi (Turkey) and Mota-Engil, Engenharie and Construcao Africa, SA (Portugal) at a total cost of 1.215 billion US dollars whereby CRDB has con-tributed 124 million US dollars for the same.<\/p>\n

\u201cThe two projects are game-changers because they will transform the country\u2019s economic prospects and attract investment in industries due to availability of affordable electricity as well as efficient transport services for the goods and services manufactured by those industries,\u201d Mr Nsekela said.<\/p>\n

Recently, CRDB has been accredited by UN Green Climate Fund in November 2019.<\/p>\n

CRDB is one of the East Africa\u2019s leading banks, serving individuals, micro, small and middle businesses and large corporations with a full range of retail, treasury, insurance, trade finance, syndications, premier banking, agriculture and microfinance service<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Tanzania: CRDB Bank, the largest homegrown financial services provider, has been nominated for the prestigious African Banker Awards thanks to last year\u2019s outstanding performance. The lender\u2019s efforts have not gone unnoticed after being nominated in two categories, Energy Deal of the Year and Infrastructure Deal of Year following its outstanding performance, posting a profit after […]<\/p>\n","protected":false},"author":84,"featured_media":10923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,8],"tags":[277,272,863],"class_list":["post-10954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","category-homepage-english","tag-abdulmajid-nsekela","tag-crdb-bank","tag-sgr"],"yoast_head":"\nCRDB SHORTLISTED FOR AFRICAN BANKER AWARDS - Tanzania<\/title>\n<meta name=\"description\" content=\"CRDB Bank, the largest homegrown financial services provider, has been nominated for the prestigious African Banker Awards thanks to last year\u2019s\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/community\/crdb-shortlisted-for-african-banker-awards\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CRDB SHORTLISTED FOR AFRICAN BANKER AWARDS\" \/>\n<meta property=\"og:description\" content=\"CRDB Bank, the largest homegrown financial services provider, has been nominated for the prestigious African Banker Awards thanks to last year\u2019s\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/community\/crdb-shortlisted-for-african-banker-awards\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-23T15:26:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/5acc3aa43458308aee5171d3d31563f7.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1059\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/community\/crdb-shortlisted-for-african-banker-awards#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/community\/crdb-shortlisted-for-african-banker-awards\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CRDB SHORTLISTED FOR AFRICAN BANKER AWARDS\",\"datePublished\":\"2020-06-23T15:26:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/community\/crdb-shortlisted-for-african-banker-awards\"},\"wordCount\":566,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/community\/crdb-shortlisted-for-african-banker-awards#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/06\/5acc3aa43458308aee5171d3d31563f7.jpg\",\"keywords\":[\"Abdulmajid Nsekela\",\"CRDB Bank\",\"SGR\"],\"articleSection\":[\"all news\",\"community\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/community\/crdb-shortlisted-for-african-banker-awards#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/community\/crdb-shortlisted-for-african-banker-awards\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/community\/crdb-shortlisted-for-african-banker-awards\",\"name\":\"CRDB SHORTLISTED FOR AFRICAN BANKER AWARDS - 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