Dar es Salaam, Tanzania.
CRDB Bank’s gross profit rose by three percent to Sh133 billion during the first quarter of 2023, driven by a rise in net interest income.
Net interest income is the difference between interest revenues and interest expenses. The bank earns interest from customers when it loans them money, and in some instances charges bank fees on money deposited by customers also.
The lender’s first quarter net interest income rose to Sh192 billion, representing a 9.7 percent increase from the previous year.
Non-interest income rose to Sh106 billion, being a three percent rise from the Sh103 billion recorded in the first quarter of 2022.
This, the bank says, was driven by increased transactions on digital channels including SimBanking, Internet banking, and CRDB Wakalas. Commenting on the figures, the CRDB Bank Group CEO, Mr Abdulmajid Nsekela, said the performance was a good start in the execution of the lender’s new medium-term strategy which runs from 2023 to 2027.
He said the Bank intends to maintain this momentum by investing in growth opportunities within the regional investment landscape and leveraging its capabilities to invest in key markets and sectors to potentially bolster this growth.
Mr Nsekela acknowledged CRDB Bank’s ongoing investment in technology, focusing on digitizing customer journeys and upgrading its core banking system to offer a superior customer experience characterized by hyper-personalization and relevance.
According to CRDB Bank’s chief financial officer, Mr Frederick Nshekanabo, the bank’s automation strategy has helped to strengthen its loan portfolio and quality, with Non-Performing Loans (NPL) standing at 2.8 percent.
Gross loans and advances stood at Sh7.2 trillion, reflecting a 4.6 percent increase compared to Sh6.9 trillion recorded on December 31, 2022.
Total assets grew by 9.3 percent from Sh11.69 trillion in December 2022 to Sh11.96 trillion in March 2023 while customer deposits stood at Sh8.3 trillion compared to Sh8.2 trillion in December 2022 as the bank continues to strengthen its balance sheet.
Looking forward, Mr Nsekela exuded confidence in the bank’s future, building on the impressive strides made over the last five years, believing that the new medium-term strategy presents a unique opportunity to transform the business in a manner that could benefit the Bank’s customers and shareholders and revolutionise economies.
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Tanzania Confirms Second Marburg Outbreak After WHO Chief Visit
Dar es Salaam — Tanzania’s President Samia Suluhu Hassan has declared an outbreak of Marburg virus, confirming a single case in the northwestern region of Kagera after a meeting with WHO director-general Tedros Adhanom Ghebreyesus.
The confirmation follows days of speculation about a possible outbreak in the region, after the WHO reported a number of deaths suspected to be linked to the highly infectious disease.
While Tanzania’s Ministry of Health declared last week that all suspected cases had tested negative for Marburg, the WHO called for additional testing at international reference laboratories.
“We never know when an outbreak might occur in a neighbouring nation. So we ensure infection prevention control assessments at every point of care as routine as a morning greeting at our workplaces.”Amelia Clemence, public health researcher
Subsequent laboratory tests conducted at Kagera’s Kabaile Mobile Laboratory and confirmed in Dar es Salaam identified one positive case, while 25 other suspected cases tested negative, the president told a press conference in Dodoma, in the east of the country today (Monday).
“The epicentre has now shifted to Biharamulo district of Kagera,” she told the press conference, distinguishing this outbreak from the previous one centred in Bukoba district.
Tedros said the WHO would release US$3 million from its emergencies contingency fund to support efforts to contain the outbreak.
Health authorities stepped up surveillance and deployed emergency response teams after the WHO raised the alarm about nine suspected cases in the region, including eight deaths.
The suspected cases displayed symptoms consistent with Marburg infection, including headache, high fever, diarrhoea, and haemorrhagic complications, according to the WHO’s alert to member countries on 14 January. The organisation noted a case fatality rate of 89 per cent among the suspected cases.
“We appreciate the swift attention accorded by the WHO,” Hassan said.
She said her administration immediately investigated the WHO’s alert.
“The government took several measures, including the investigation of suspected individuals and the deployment of emergency response teams,” she added.
Cross-border transmission
The emergence of this case in a region that experienced Tanzania’s first-ever Marburg outbreak in March 2023 has raised concerns about cross-border transmission, particularly following Rwanda’s recent outbreak that infected 66 people and killed 15 before being declared over in December 2024.
The situation is particularly critical given Kagera’s position as a transport hub connecting four East African nations.
Amelia Clemence, a public health researcher working in the region, says constant vigilance is required.
“We never know when an outbreak might occur in a neighbouring nation. So we ensure infection prevention control assessments at every point of care as routine as a morning greeting at our workplaces.”
The Kagera region’s ecosystem, home to fruit bats that serve as natural reservoirs for the Marburg virus, adds another layer of complexity to disease surveillance efforts.
The virus, closely related to Ebola, spreads through contact with bodily fluids and can cause severe haemorrhagic fever.
Transparency urged
Elizabeth Sanga, shadow minister of health for Tanzania’s ACT Wazalendo opposition party, says greater transparency would help guide public health measures.
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“This could have helped to guide those who are traveling to the affected region to be more vigilant and prevent the risk of further spread,” she said.
WHO regional director for Africa Matshidiso Moeti says early notification of investigation outcomes is important.
“We stand ready to support the government in its efforts to investigate and ensure that measures are in place for an effective and rapid response,” she said, noting that existing national capacities built from previous health emergencies could be quickly mobilised.
The situation coincides with leadership changes in Tanzania’s Ministry of Health, with both the chief medical officer and permanent secretary being replaced.
This piece was produced by SciDev.Net’s Sub-Saharan Africa English desk.
Source: allafrica.com
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