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CRDB boss named in Africa list of most reputable banks CEOs

CRDB boss named in Africa list of most reputable banks CEOs

CRDB Bank Chief Executive Officer and Managing Director, Abdulmajid Nsekela has been named as one of the most reputable CEOs in Africa by Reputation Poll International for 2021.

Mr Nsekela joins a list of 49 other African bank CEOs, who are on this year’s list for chief executives who have, through investment in technological innovation, beaten the Covid-19 pandemic to perform well.

In the statement of the US based Reputation Poll International LLC, which is a leading global reputation-management firm said it finds it necessary to recognize the banking sector, which plays a major role in our society, connecting people, linking up businesses and influencing the economy directly or indirectly.

"As part of our annual ranking, the Executive Appraisal of Reputable individuals from all works of life, after extensive research on various playmakers (the CEOs) in the African Banking sector, we choose to recognize the 50 most reputable Bank CEOs in Africa.

"Those who have built and played an imperative role in revolutionizing the banking sector based on the following criteria; excellence, integrity, reliability, expertise, technology, and ease of credit. They have helped their banks attain a great height of performance,” the statement added.

Mr Nsekela is the only CEO of a bank from Tanzania and this is the second time he receives international recognition due to his outstanding leadership, and the last time, he was conferred with a Hall of Fame by African Leadership Magazine for his outstanding business leadership.

Commenting on his recognition, Mr Nsekela said he is humbled to be on the prestigious list which includes CEOs of leading African banks.

“This award does not belong to me but to all CRDB staff members, management and the board because it’s a result of our teamwork,” Mr Nsekela said.

He pointed out that despite the Covdi-19 disruption; CRDB has continued to deliver a strong balance sheet underlined by strong growth in both net interest and non-funded incomes.

“We recovered in areas that had exhibited weakness in the course of the year, thanks to an adaptive strategy and timely interventions,” the CEO said.

Robust investment in innovation has witnessed more than 80 per cent of transactions being done outside of the bank’s branches countrywide hence enhancing financial inclusion as per the government’s agenda.

“We have accelerated our digital transformation projects to ensure that we serve our customers effectively while also observing health guidelines,” Nsekela said.

“Our focus is to drive usage of our digital channels such as SimBanking, internet banking as well as agents, which will reduce the necessity of our customers visiting our branches,” the lender's CEO added.

The Reputation Poll International LLC said the most recent crisis the world witnessed was the Covid-19 pandemic, which struck a blow to the banking industry across the globe; most specifically the African banks have seen a decline in the average return on equity (ROE) from 14 per cent in 2019, to 7.0 per cent in 2020.

However, CRDB under Mr Nsekela has recorded growth in profit year on year.

Since when he took over as CRDB chief executive, in 2018, the bank embarked on a digital transformation journey to drive financial inclusion which has resulted in an impressive 87 per cent increase in profit to 120bn/- in 2019 compared to 64.2bn/-in 2018.

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Author: DAILYNEWS REPORTER

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