CRDB sets 1.0bn/- for Dodoma traders

DODOMA: THE CRDB Bank Foundation has committed over 1.0bn/- to support youth, women entrepreneurs and special groups in Dodoma Region. The initiative is being implemented in collaboration with Special Seats Member of Parliament and Chairperson of the Tanzania Women’s Union (UWT) in the region, Dr Neema Majule.

CRDB Bank Foundation Managing Director Tully Esther Mwambapa, said during an entrepreneurs’ forum that since the partnership began in early February, the programme has reached all 209 wards in Dodoma, providing financial literacy training to more than 5,300 entrepreneurs from 50 groups.

“The programme to visit groups is ongoing, and our expectation is to reach more youth and women so they can benefit from these services,” Ms Mwambapa said recently.

The Foundation has so far reached 50 groups though 16 have met the criteria to receive loans, involving 80 members who have already been approved for more than 113.975m/-.

“The enabling capital we have provided is a key to benefiting every entrepreneur in Dodoma—let us use this opportunity to grow our businesses,” said Ms Mwambapa.

Also, notional wise the Foundation have disbursed enabling capital worth 20.2bn/-, with strong repayment performance thanks to highly affordable.

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“Through our collaboration with Dr Neema’s office, we believe we will reach even more citizens and help transform their economic lives,” said Ms Mwambapa.

Additionally, both side representatives have visited all seven districts of Dodoma and engaged with entrepreneur groups seeking to expand their businesses. Dr Majule said the start has been promising, with stronger results expected over the next five years of the partnership between the MP’s office and CRDB Bank Foundation.

“Our region has many small-scale entrepreneurs eager to progress, we will do more to support those with the ambition to grow,” said Dr Majule.

Under this arrangement, the MP’s office guarantees all beneficiaries seeking capital, meaning they are not required to provide collateral, and each recipient will repay the amount received as the support carries no interest. In addition to the financial support provided to qualified groups, the Foundation also handed over 25 motorcycles to the Rhema Education Foundation, led by Dr Majule.

Since its establishment in 2023, CRDB Bank Foundation has reached more than 1.25 million women and youth engaged in economic activities across sectors such as agriculture, fisheries, small-scale mining, food vending, small industries and start-ups.