The entrance of CRDB Bank in Burundi and the Democratic Republic of Congo (DRC) markets is marking significant milestone in efforts to closethe trading and financing gaps in the eastern Africa countries.

The Burundian Prime Minister, Mr Alain Guillaume Bunyoni, said he was pleased to hear that CRDB Bank is opening its subsidiary in Congo DRC with its headquarters in Lubumbashi and wanted the services close to the Burundi-DRC border as well.

"I urge the bank to bring the Congo branches close to Burundi borders in Uvira and Bukavu so that cross border businesses with DRC and Burundi can be smoothened," Mr Bunyoni said while welcoming CRDB Bank delegation in Burundi that paid him a courtesy call late last week.

The delegation was led by Group Chairman Dr Ally Lay and the Group Managing Director and CEO, Mr Abdulmajid Nsekela and was accompanied by Jilly Mareko, Ambassador of Burundi to Tanzania.

"Rest assured that of our government supports and is ready to discuss the financing of big projects on the table since some of them involved even our two countries," Mr Bunyoni said.

He reminded the delegation that the bank was the first to introduce the mobile branch in Burundi, adding that it was really an innovation in the banking industry.

Also was thankful to CRDB Bank for its capacity to mobilise funds on international markets without tough conditions unlike some lenders from Europe.

"It is also important to note that the bank through its endless digital transformation programme is supporting Burundi and Tanzania trade transactions by giving smooth platform access, especially through cross-border transactions and the Port Authority for clearance," he pointed out.

The Chairman, Dr Laay, informed the PM that the bank is deploying digital channels so that customers can save time and be able to expand the banking services in unbanked areas of the country.

"This will support Burundi in its financial inclusions agenda," Mr Laay said adding: "It is in that line the bank is now covering the entire country with agents banking and following deployment of mobile and internet banking platforms."

In line with the 10 years of Burundi's National Development Program, the Chairman said, the bank looks forward to focusing on the development of economic sectors like agriculture, manufacturing, housing, tourism and hospitality, which are crucial in the employment of the youth and the inflows of foreign currency into the country.

Elaborating, CRDB Bank CEO told the Premier that at the moment, the financial institution ranks third in terms of loan portfolio after only 10 years in operations, and 20per cent of its portfolio is financing agriculture to support majority of Burundians.

"Over the last ten years, the bank has continued to support the economy of Burundi by providing innovative products and services to corporates, individuals and institutions customers through tailored savings and lending products," Mr Nsekela said.

Copyright Tanzania Daily News. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English