28 December 2017

Tanzania: CRDB Bank Starts Searching for Kimei Heir

CRDB bank has started the process of searching for a new managing director almost two years before Dr Charles Kimei retires.

The bank constitution directs that the exercise to begin 18 months before the sitting MD retired. Dr Kimei will clock 21 years as the bank top boss by May 2019.

The process starts earlier to facilitate smooth succession, Dr Kimei announced Thursday morning.

He raised the bank from a verge of bankruptcy and turned it to be a leading financial institution in the country.

Twenty years ago the bank's assets were 54bn/- but grew to 5.9tri/- while deposits were 40bn/- and reached 4.3tri/-.


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