PRESIDENT Jakaya Kiwete highly commended the management of the CRDB Bank for establishing a model Branch at Marangu, in Moshi rural area. The branch is equipped with modern gadgets and products.

Officiating at opening of the new branch, which flung open its door to customers in December last year, he urged the bank management to open as many branches in the rural area as possible where the majority of Tanzanians live and also mobilize savings as economic growth is dependent on investments.

The President directed Marangu residents to make use of the branch to ensure safety of their money which will ultimately make them qualify for credit facilities to enable them set up development projects to eradicate abject poverty in the rural areas.

President Kikwete urged CRDB management to review interest rates imposed on loans and savings so as to attract potential customers, adding that working collaboration and partnership between the bank and Savings and Credit Cooperative Societies (SACCOs) should be sustained to maintain smooth delivery financial services in the rural areas.
He also requested the bank management to aggressively urge mobile customers go for financial leasing, saying that was the best way of accelerating development activities.
He added under that arrangement the Bank could disburse loans in a form of materials, tools, machinery and vehicles and that the same could be retrieved in case of non-compliance to repayment.

President Kikwete challenged operators in the private sector to access mortgage financing to enable them build houses for sale or conducting business activities.
He also thanked the Bank for realizing its corporate social services by donating 18 beds, 18 mattresses and 80 bed sheets worth 3m/- to the maternity unit at Marangu Hospital.

Earlier, CRDB Managing Director, Dr Charles Kimei informed the President that currently there were 60 CRDB Branches and 5 mobile banks operating in the country, saying the Bank has earned 12bn/-in profit of which one per cent is set aside for social services.
He said the Bank plan to open branches in every district countrywide, adding that presently structures for 12 branches were in different stages of construction and three more mobile banks will soon be in place.

Dr Kimei assured the President that more branches will be opened in rural areas, saying the Marangu branch will be a model to be emulated, saying the thrust was to reduce the gap of people who do not access financial services in the rural areas.
He added that a study conducted by experts has revealed that only 12.4 per cent have access to financial services.

According to CRDB Marketing and Research Director, Ms Tully Mwambapa, Marangu branch had accumulated savings totaling 1.8 bn/- within a period of five months and it registered 2000 clients.

President Jakaya Kikwete and Regional Commissioner of Kilimanjaro Region Ms.Monica Mbega, witnessing the Managing Director of CRDB Bank Dr. Charles Kimei handling the donation to the Doctor of Marangu Hospital Dr. Haikaeli Uwiso during the opening of the new branch in Marangu. The donation given were hospital beds and mattresses.