The CEO has been holding meetings with asset managers, commercial bank executives and development finance institutions scattered across the United States, Britain, the European Union, the Middle East and Africa.
He has been seeking to put up collaborative efforts with industry leaders such as JP Morgan, a leading investment bank in the United States, Afriexim Bank which handled import export trade, as well as Standard Bank, a UK financial powerhouse linked with the Standard Chartered Group often operating from Hong Kong, and Stanbic Bank Group based in South Africa, with extensive operations in Tanzania.
During his extensive tour, the CEO’s discussions have encompassed a wide array of subjects, ranging from Tanzania’s investment opportunities, sustainable innovative financing, boosting intra-African trade and promoting financial inclusion via the CRDB Bank Foundation.
Nsekela believes that Tanzania’s friendly investment policy, peace and stability, substantial debt endurance capacity, stable inflation rates collectively render it an attractive destination for investors.
Recent data from the Tanzania Investment Centre (TIC) paints an encouraging picture, as the August 2023 Monthly Investment Factsheet affirms that 58 investment projects were approved, representing a total value of $931.6m.
The projects have the potential to generate an impressive 25,731 new jobs, spanning diverse sectors such as manufacturing, transport, agriculture, tourism, commercial building, services, and economic infrastructure, it stated. Foreign Direct Investment (FDIs) notably constitutes upwards of 38 percent of these projects, indicating strong international confidence in Tanzania’s economic horizon, it asserted.
Expected FDI flows are likely to enhance overall productivity through healthy competition, boosting economic stability in the region, it said. :Last year, CRDB Bank solidified international strategic partnerships with French investment bank Proparco, the US Agency for International Development (USAID), the United States International Development Finance Corporation (DFC), and the World Bank’s International Finance Corporation (IFC), raising over 500bn/- to extend soft credits to small and medium enterprises (SMEs).
The CEO remarked that this achievement underscores CRDB Bank’s global standing and its dedicated efforts to underpinning economic stability in the wake of shock waves of the COVID-19 pandemic.
He asserted that Tanzania’s economic resurgence extends across commercial and industrial domains, making it an alluring prospect for a wide range of foreign investors.
He praised the far-reaching reforms taken up by President Samia Suluhu Hassan, which have significantly improved the business climate obtained the attention of numerous investors. Facilitating meetings with key players in the global economy and foreign traders arose from the pivotal role played by these reforms, he added
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