The government has intensified pressure on banks and financial institutions to lower lending rates and transaction charges amid growing public concern over the rising cost of accessing credit in Tanzania.
Opening the 31st Annual General Meeting shareholders’ seminar of CRDB Bank at the Arusha International Conference Centre on Thursday, Finance Minister Khamis Mussa Omar said high interest rates continue to limit access to capital for many Tanzanians, particularly young entrepreneurs seeking to invest in productive economic activities.
The seminar, held under the theme “Youth and Investment in Shares,” focused on expanding financial inclusion and encouraging more young people to participate in capital markets.
“There is a public outcry over interest rates and bank service charges,” Mr Omar said. “I urge CRDB and other financial institutions to take deliberate measures to reduce the financial burden on customers, especially those opening accounts and carrying out transactions.”
His remarks come at a time when businesses and ordinary borrowers have repeatedly raised concerns about the cost of credit, arguing that expensive loans are slowing investment growth and limiting expansion opportunities for small and medium enterprises.
The minister, however, praised CRDB for maintaining strong growth and increasing its contribution to private sector financing, saying the bank now accounts for nearly 29 percent of all private sector lending in the country.
He noted that the bank posted a profit of TZS725 billion in 2025, expressing confidence that the lender could surpass the TZS1 trillion profit mark in 2026 if the current momentum continues.
Mr Omar also commended the bank’s expanding role in capital market innovation through initiatives such as the Samia Infrastructure Bond, promotion of green bonds and Sharia-compliant financial products including Sukuk.
He said the government would continue strengthening the investment climate through policy stability, legal reforms and improvements in financial infrastructure to stimulate economic growth and attract more investment.
The minister further encouraged young Tanzanians to embrace investment in shares and capital market products as part of long-term wealth creation strategies.
CRDB Group chief executive, Abdulmajid Nsekela, said the bank had expanded financial products targeting young people in an effort to increase their participation in economic activities.
These include Youth Banking, Junior Jumbo, Teens Account, Scholar Account and Boom Advance.
Dr Nsekela said CRDB’s total assets had grown to TZS23.9 trillion at the start of 2026, while customer deposits reached TZS16.3 trillion and loans extended to customers rose to TZS14.7 trillion.
The bank’s 2025 profit of TZS725 billion represented growth of more than 1,000 percent over recent years, he added.
According to him, CRDB has also strengthened innovation in banking by supporting infrastructure financing, green investment products and specialised youth empowerment programmes.
He thanked the government and regulators including the Bank of Tanzania, the Dar es Salaam Stock Exchange and the Capital Markets and Securities Authority for supporting the development of the country’s financial and capital markets.
CRDB Board chairperson Neema Mori said the number of shareholders in the bank had surged from 30,141 in 2021 to 89,194 by March 2026, an increase of nearly 196 percent.
She said the rapid growth reflected rising public confidence in share investment, particularly among young Tanzanians.
“CRDB has evolved from being simply a household banking brand into an investment brand attracting both small and large investors,” Prof Mori said.
The seminar attracted regional leaders, board members, shareholders, management executives and journalists, with discussions centred on youth investment opportunities, dividend distribution and broader participation in Tanzania’s capital markets.
