By Business Insider Reporter
Move positions Tanzania’s largest lender for international growth and cross-border financial integration
CRDB Bank, Tanzania’s largest financial institution, has recently successfully completed a 72-hour upgrade of its core banking system, marking a major milestone in its ongoing digital transformation and global expansion strategy.
The upgrade comes as the bank finalises plans to establish operations in Dubai, a move that will connect East African clients to international financial markets.
The system enhancement – executed on schedule – has restored all banking services across CRDB’s platforms in Tanzania, Burundi, and the Democratic Republic of Congo (DRC), while introducing significant improvements in efficiency, security, and multilingual functionality.
A foundation for international expansion
CRDB Bank Group Chief Executive Officer Abdulmajid Nsekela described the upgrade as a crucial investment in the bank’s global ambitions.
“CRDB Bank is now an international institution with operations in Burundi and the DRC, and we are finalising arrangements to enter Dubai,” Nsekela said. “You cannot provide services across multiple countries without a robust system that ensures data security and enables transactions with speed and reliability. This upgrade gives us that foundation.”
The new system supports multiple currencies and languages, enabling seamless service for diverse clients across regions. It also integrates stronger cybersecurity tools and improved analytics to better anticipate customer needs and enhance compliance with international banking regulations.
Dubai: CRDB’s gateway to the world
CRDB’s upcoming Dubai branch – announced during its 30th anniversary celebrations – will make it the first East African bank to establish a presence in the United Arab Emirates (UAE). The move is designed to bridge East Africa’s growing trade and investment ties with the Middle East, Asia, and Europe.
By positioning itself in Dubai, a global financial hub, CRDB aims to facilitate trade financing, diaspora banking, and foreign investment flows for Tanzanian and regional clients.
The branch will also give East African businesses easier access to international markets, correspondent banking, and currency services.
Financial analysts say the expansion could strengthen Tanzania’s position as a regional financial centre, attracting capital inflows and enhancing the visibility of Tanzanian enterprises abroad.
A step towards a digital and global future
CRDB’s Chief Operating Officer Bruce Mwile noted that some customers experienced minor discrepancies in their account balances due to the data migration process, but these were promptly addressed.
“The new system is built to international standards and gives us the technological backbone to operate globally,” Mwile said. “It also enhances customer experience through faster transaction processing and better integration of digital channels.”
This upgrade follows a series of transformative moves by CRDB, including the listing of its Green Bond on the Luxembourg Stock Exchange, which raised US$ 65.7 million to finance climate-related projects in Tanzania. The bond was oversubscribed by 429 percent, underscoring investor confidence in CRDB’s management and sustainability agenda.
Strengthening Tanzania’s financial footprint
For Tanzania, CRDB’s expansion represents more than just corporate growth – it signals the emergence of a homegrown financial powerhouse capable of competing on the global stage.
The Dubai entry is expected to open new opportunities for Tanzanian exporters, remittance services, and international investors seeking to engage with East Africa’s fastest-growing economy.
As CRDB positions itself among Africa’s top-tier financial institutions, the bank’s cross-border strategy is poised to strengthen Tanzania’s financial integration with global markets, boost confidence in its banking sector, and showcase the country’s capacity to build institutions that meet world-class standards.
“This is not just about CRDB’s growth,” said a Dar es Salaam–based financial analyst. “It’s about Tanzania exporting its banking excellence and showing that local institutions can lead regional transformation.” With a modernised core system and a bold international vision, CRDB Bank is charting a new chapter – one that could redefine Tanzania’s presence in the global financial ecosystem.
