720,000 Tanzanian youth benefit from CRDB’s 20bn/- funding

MTWARA: CRDB Bank has issued over 20bn/ loaned to 720,000 youth across the country since 2023 to date, the Bank’s Zonal Business Manager, Southern Zone, Mr Emmanuel Baganio, has revealed today, March 3, 2026.

Mr Baganio made the revelation here, noting that the funds were issued to youth as enabling capital to youth to start businesses through the CRDB Foundation Wing.

The Zonal Manager was speaking during an event to hand over tricycles, three-wheeled vehicles worth 140m/- to youth in Mtwara Region engaging in transport businesses.

“The government, through the Ministry of State in the President’s Office, Youth Development, has entered an agreement to issue the youth loans. Today’s loan (140m/-) is part of the agreement,” he said, noting that the loans are issued by CRDB through the CRDB Foundation Wing.

Officiating at the event, Minister of State in the President’s Office -Youth Development Dr Joel Nanauke, reiterated the need for youth with serious business development plans to go for the soft loans issued by the government through CRDB.

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He said the government has eased the conditions for youth obtaining the loans, to enable more youth engage in development issues rather than relying on non-paying businesses.

“My sincere call to youth in Mtwara and elsewhere in the country to engage in issues meant to lift them into business and economy development,” he said, noting that the government has allocated 2000bn/- to empower innovative youth, among others.

He said the government has eased loan conditions by removing strict requirements, allowing individual youth with innovative business ideas to get the loans.

“We have announced that anyone with an innovative idea can come for loan as an individual, this is to make the loans accessible to youth with innovative business ideas,” he said.

Mtwara Regional Commissioner Colonel Donald Msengi urged the government to commend the plan of empowering youth to engage economy development businesses.

He urged the youth to start generating innovative ideas and go for the soft loans to lift up their living standards.