CRDB to empower farmers with digital financial solutions
DAR ES SALAAM: CRDB Bank is taking significant steps to digitise farmers’ activities, enhancing their access to financial services and empowering them to manage their agricultural operations more effectively.
In this transformative initiative, CRDB has joined the Mobilising Access to Digital Economy (MADE) Alliance: Africa, a groundbreaking initiative spearheaded by Mastercard and the African Development Bank (AfDB).
The Bank’s Group CEO Abdulmajid Nsekela emphasised that the lender’s participation in in this initiative aims to connect millions of Tanzanian farmers to digital financial services.
“Our involvement in the MADE Alliance Africa aligns with our mission to empower farmers through digital platforms,” said Mr Nsekela.
CRDB’s commitment to the MADE Alliance Tanzania Chapter was officially announced during the 79th United Nations General Assembly (UNGA) in New York.
“We are committed to equipping farmers with the tools they need to modernise their practices, access affordable credit, and build resilience against climate change,” he stated.
Through its FahariKilimo account, the Bank offers farmers essential benefits such as digital payments, savings, insurance, and access to credit empowering them to optimise their agricultural operations.
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CRDB Bank currently accounts for 60per cent of Tanzania’s agricultural financing, making it a crucial player in the sector.
“Our digital solutions, such as SimBanking and the CRDB Wakala agent network, bring financial services closer to farmers, enabling them to save, borrow, and insure their crops with ease,” CRDB CEO said.
He also highlighted the hank’s ongoing efforts to digitise farming communities, offering services such as agricultural input loans, farm mechanisation loans, the outgrower’s loan scheme, warehouse construction loan and warehouse receipt financing.
In a broader effort to promote financial inclusion, CRDB is extending its reach through the IMBEJU Kilimo programme which operates under the CRDB Bank Foundation.
“Digitising agricultural finance is key to advancing modern farming practices in Tanzania,” Nsekela added.
As an accredited partner of the United Nations Green Climate Fund (UNGCF), CRDB also assists farmers in adopting climate-resilient practices and technologies.
Mastercard’s Vice-Chair and President of Strategic Growth, Ambassador Jon Hauntsman said CRDB’s extensive experience and strong commitment to agricultural financing made them a key partner in the mission.
“We are excited to collaborate with them to develop and implement innovative digital solutions that will empower millions of farmers across Tanzania,” he said.
CRDB expertise in integrating financial services with advanced technology, along with their deep-rooted engagement in the farming community, aligns perfectly with the goals of the MADE Alliance.
CRDB’s participation in the MADE Alliance Africa strengthens its position as a leader in modernising Tanzania’s agricultural sector.
