How CRDB Wakala transforms agent’s life

A decade of CRDB Bank Wakala has become a turning point for Joshua Lembeli Loketa’s life who owns 12 agent centres in Kilosa, Morogoro Region.

Mr Loketa, a cattle keeper and an accountant, last year seize an opportunity and became CRDB Wakala, and so far has managed to open 1000 bank accounts for standard gauge railways (SGR) project workers, students and employees of a nearby health college in Kilosa.

“I grab the potential of providing financial services to those employees, thanks to CRDB Wakala platform,” Mr Loketa, now a respected businessman, said on Monday.

The farmer, with his keen business acumen, believes in delivering excellent customer service, making him to stand out from the rest.

His good performance  enable him to be recognised by the bank, winning  a tricycle ( Bajaj)as part to celebrate CRDB Wakala’s  ten years of banking agency.

His vision, he told Daily News, is to increase capital expand his business and add new customers across the region.

“I do not plan to stop there in Kilosa,” Mr Loketa said adding “I am planning to open more offices in different areas of Morogoro Region.”

The commission from CRDB Wakala business has not only enabled Joshua to fulfil the important needs of his family but has also earned him respect in the community and among other agents. He has become a role model for many who aspire to achieve their dreams through hard work and dedication.

He excitedly shares how the Bajaj will significantly impact his life, especially in transporting his children to school.

“I will use this Bajaj to transport my children to school and save me from allocating 60,000/- for their transportation expenses every month,” he said.

CRDB was the first lender in the market to introduce agency banking some ten years ago.

CRDB’s Head Banking Agency, Ericky Willy, said as the ‘10 na Kitu’ campaign to celebrate the decade of the lender’s agency banking unfolds, the stories of success and transformation continue to pour in.

“The journey of Mr Loketa is just one example of the incredible impact that CRDB Wakala has had on the lives of agents and the communities they serve,” Mr Willy said during  the  ceremony to hand over the Bajaj in Kilosa:

He added: “With each transaction and account opened, CRDB Bank takes another step towards its vision of fostering financial inclusion and transforming lives throughout the country”.

The CRDB Wakala platform currently is serving over one million account holders, and caters for the financial needs of over two million non-CRDB customers every month.

The Wakala network processes over 80 million transactions annually, totalling a value of over 50tri/-, comfortably above the 2023/24 nation budget of 44.39tri/-

“The platform has revolutionised the way financial services are provided in the country,” Mr Willy said. The network has over 30,000 agents.

Since its introduction of CRDB Wakala in 2013, it has experienced phenomenal growth, bringing significant efficiency to the bank and playing a pivotal role in driving financial inclusion across the country.

“The impact of CRDB Wakala is awe-inspiring,” the Agency Head said.

According to CRDB, it leads the way in agency banking in the country and holds the esteemed position of being the third-largest agent network in East Africa.

To celebrate the 10th anniversary, the bank, one of the largest in the market, offers prizes each month to the agents with the highest number of transactions from different zones—including ten motorcycles, while the overall monthly winner goes away with a Bajaj and a single agent will have the privilege of driving away in a Toyota Alphard.

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