Speaking in Bangkok last week on the sidelines of gatherings linked to the International Monetary Fund and the World Bank's annual conference, CRDB's chief executive officer, Abdulmajid Mussa Nsekela, said in an interview that the bank intends to raise about $1.3 billion through a bond program spanning multiple currencies, with issuance set to begin in Q1 of next year. The notes are expected to be issued in dollars, euros and shillings, and the size of each slice will follow investor interest and the bank's needs.
"We normally start with a teaser for investors, how the appetite will look," he said. "That will drive which portion will be bigger, and that will be depend on the need." - Abdulmajid Mussa Nsekela
CRDB's footprint has widened in recent years, with new operations in the Democratic Republic of Congo and Burundi. Looking ahead, Nsekela said the lender is keen to enter either Zambia or Kenya next year through an acquisition or a joint venture, and it is also eyeing Uganda.
That expansion sits on top of strong financial momentum. By 2025, its after-tax profit and total lending exceed twice the levels recorded in 2022.
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A program of this size across dollars, euros and shillings could translate into a variety of new CRDB debt options, with tranche sizes shaped by the investor "teaser" Nsekela described. In plain English: investor demand and the bank's funding needs will steer which currency buckets get the most issuance.
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