CRDB Bank & Sanlam Partner to Expand Sanlam Pesa Money Market Fund Access in Tanzania

Dar es Salaam, Tanzania – CRDB Bank Plc, the leading bank in Tanzania, and Sanlam Investments East Africa Limited (SIEAL) are joining forces to expand access to the Sanlam Pesa Money Market Fund in Tanzania. This collaboration will leverage CRDB Bank's extensive network to distribute the existing Sanlam Pesa Money Market Fund, enabling more Tanzanians, from first-time to seasoned investors, to grow their wealth through this partnership.

The launch event, held in Dar es Salaam on 26th March 2025, marks a pivotal moment in Tanzania's financial landscape, enhancing access to investment opportunities and fostering a culture of financial empowerment. CRDB Bank’s extensive network will now offer the Sanlam Pesa Money Market Fund, making investment as simple as a mobile money transaction.

Jonathan Stichbury, CEO and Managing Director of Sanlam Investments East Africa, stated, "Sanlam Investments East Africa is dedicated to democratizing investment and putting financial power in the hands of every Tanzanian. Our partnership with CRDB Bank is about leveraging their reach to make the Sanlam Pesa Money Market Fund even more accessible, driving us closer to our goal of financial freedom for all. This fund provides a unique blend of capital preservation, competitive returns, and easy liquidity, delivered through a seamless digital experience."

As part of the agreement, CRDB Bank will act as the primary collection agent and investment facilitator for Sanlam Pesa Money Market Fund, ensuring a secure and efficient investment process for clients. The fund is designed to provide Tanzanians, including first-time and experienced investors with a safe, affordable, and profitable investment vehicle.

CRDB Bank’s Acting Director of Treasury and Capital Markets, Olais Tira, underscored the significance of the partnership in fostering financial inclusion and deepening Tanzania’s capital markets, stating: "At CRDB Bank, we believe that wealth creation should be accessible to all. This partnership with Sanlam Investments East Africa aligns perfectly with our mission to enhance financial inclusion by offering innovative investment solutions through our branch network, digital channels like SimBanking, and CRDB Wakala agents. By simplifying access to investment opportunities, we are empowering Tanzanians to build a stronger financial future."

This initiative aligns with Tanzania’s National Financial Inclusion Framework (2023-2028), which aims to increase the usage and quality of financial services among citizens. With over 89% of the adult population now financially included, CRDB Bank and Sanlam Investments are taking a step further to ensure that investment products reach more people, including youth, women, entrepreneurs, and rural communities.

By combining Sanlam’s expertise in fund management and CRDB Bank’s robust distribution network, this partnership is expected to strengthen Tanzania’s capital markets, promote a savings culture, and drive economic growth. The Sanlam Pesa Money Market Fund will be accessible through CRDB Bank’s branches, CRDB Wakala network, and digital platforms such as SimBanking ensuring convenience for all investors. The bank also plans to roll out targeted educational campaigns to promote a culture of saving and investing in capital markets.

For more information about the Sanlam Pesa Money Market Fund, customers can visit any CRDB Bank branch, contact the CRDB Bank call center toll-free at 0800 008 000, or email [email protected].