CRDB Bank Doubles Syndicated Facility to USD300 Million Amid Record Lender Demand

The CRDB Bank of Tanzania has successfully secured a US$300 million syndicated term loan facility following overwhelming demand from international lenders.

This marks the largest refinancing of its international syndicated loan programme since its launch in 2022.

Intesa Sanpaolo and Investec Bank were Coordinators and Bookrunners on the transaction, which attracted total commitments of approximately US$744 million, nearly five times the original US$150 million launch target.

The facility represents the fifth consecutive year that Intesa Sanpaolo and Investec have partnered with CRDB Bank on its annual syndicated financing programme.

“Each refinancing has built on the success of the previous transaction, attracting broader participation, larger commitments and increasing support from global lenders,” said Marc Köhne, Head of Africa Leveraged Finance at Investec.

“The strong response to this year’s syndication shows both the quality of CRDB Bank’s franchise and investor belief in the opportunities across East Africa.”

According to Gustaaf Eerenstein, Syndication Director at Intesa Sanpaolo the transaction also underscores the growing interest among international lenders in Africa’s banking sector and the critical role that well-capitalized and sound financial institutions play in supporting trade, investment and economic development.

“CRDB Bank remains well positioned to capture these opportunities and contribute to sustainable growth across the region.”

Tanzania’s largest banking group, CRDB Bank has total assets of approximately 24.3 trillion/- and market shares of around 29 percent in both assets and deposits as of Fiscal Year 2025.

The bank has also expanded its footprint beyond Tanzania into Burundi and the Democratic Republic of Congo, having more recently also established a representative office in Dubai to support regional trade and investment corridors

The 2026 facility introduces a new three-year tranche alongside the existing 1-year and 2-year tenor structure extending CRDB Bank’s maturity profile and further diversifying its funding base.

The longer-dated tranche was particularly attractive to development finance institutions wanting to support sustainable long-term growth across the region.

As a result of the structure, the syndication attracted participation from 34 financial institutions spanning Europe, the United Kingdom, the Gulf region and Africa, including both commercial banks and development finance institutions.

Investor participation has continued to deepen over time, with several existing lenders increasing their commitments while new institutions also joined the facility.

Köhne said the transaction demonstrated the growing appetite among international funders for high-quality African banking credits.

“The significant oversubscription shows the depth of liquidity currently available for leading African financial institutions. Investors are increasingly seeking exposure to established, well-managed regional banks with healthy market positions, and CRDB Bank continues to stand out as one of the continent’s leading banking franchises.”

“Investor participation has strengthened consistently since the inaugural transaction,” adds Leanne Large, Head of Investec Distribution and Loan Syndication.

“We have seen ticket sizes increase, long-standing lenders seeking larger allocations and growing appetite for longer tenors. The introduction of the three-year tranche also demonstrates the market’s confidence in CRDB Bank’s long-term growth strategy and ability to deliver sustainable performance.”

“This transaction is also testament to the management and staff of CRDB Bank, year after year setting a benchmark in the African Syndicated Loan Market. We are pleased and honoured to have partnered yet again with Investec in supporting the Bank’s continued expansion and development,” added Eerenstein.

The proceeds of the facility will support CRDB’s general corporate funding requirements, liquidity management and continued expansion of its lending activities across Tanzania and its regional operations.

The funding will also enhance the bank’s ability to support clients operating across key trade and investment corridors throughout East and Central Africa.

Dr. Abdulmajid Nsekela, Group CEO of CRDB Bank, said the transaction represented another important milestone in the bank’s growth journey.

“The successful completion of this facility reinforces our standing in international funding markets and provides additional flexibility to support our clients and the economies in which we operate. We are grateful to Investec, Intesa Sanpaolo and our lending partners for their continued confidence and support as we expand our regional footprint and deepen our contribution to economic development across East and Central Africa.”

Established in 1996 and listed on the Dar es Salaam Stock Exchange in 2009, CRDB is a leading financial services provider in Tanzania with a presence in Burundi and Democratic Republic of Congo (DRC).

The bank also runs a fully-fledged insurance company, the CRDB Insurance Company.

It has also established CRDB Bank Foundation as its social impact arm.

The bank offers a wide range of products including savings, loans, trade finance, investments, and insurance. With total assets valued at approximately TZS 24.3 trillion as of 2025, CRDB is the largest commercial bank in Tanzania.

The bank’s commitment to innovation and customer-centric services has made it a key player in the East and Central African financial landscape. 

On the other hand, the Investec Group is a leading international bank and wealth manager, with a regional focus in Southern Africa and the United Kingdom.

It is complemented by a strategic presence in Continental Europe, Channel Islands, Dubai, India, Mauritius, Switzerland and the United States.

Established in 1974, Investec partners with private, corporate, and institutional clients, and delivers tailored solutions with exceptional service in the areas of private banking and wealth management, and corporate and investment banking. Investec is driven by its purpose to create enduring worth for all its stakeholders.

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