Tanzania: Crdb Health Sector Loan Portfolio Rise to 78bn/

CRDB Bank has already dished 78bn/-loan to the health sector in a bid to ease financial constraints and smooth investments and operations of hospitals countrywide. The bank has been issuing loans to health sector for some time and already over 100 hospitals have accessed over 78bn/-to date.

The bank said during first of its kind virtual Afya Forum that was attended by over 500 stakeholders online to talk and iron out financial issues in health sector. Opening the Forum Deputy Minister for Health Dr Godwin Mollel said the bank's initiative eyed to address financial challenges and increase investment on health sector in general.

"The government plan is to improve the sector so as to amplify operation efficiently and availability of equipment in corporation with private sector which include financial institutions," Dr Mollel, who was recently appointed, said yesterday.

He said the government's end goal is to make sure 'wananchi' are getting not only better but also affordable health service wherever they are.

"I am glad to see CRDB readiness to collaborate with government to drive home the government plans and goals," Dr Mollel said.

The Afya Forum came timely as the country is struggling to flatten Covid-19 curve where demand for medical services have increased proportionately.

Under the new CRDB initiative the bank will provide loans to enable health institutions, public or private sector, to purchase equipment, drugs and operating expenses to smooth operations while waiting for payments from health insurance firms.

CRDB Chief Executive Officer (CEO), Abdulmajid Nsekela said health institutions have been facing financial challenges due to payment delay from insurance companies.

"But using our overdraft and invoice discounting services we have agreed to solve the challenge by collaborating with MSD and NIHF and other health insurance providers," he said.

He said the bank will also provide support medical equipment supplier through Local Purchase Order (LPO), financing platform. The bank is also ready to work with local and international stakeholders' investors on building medical industries.

"As a local bank, we are obliged to address challenges by offering workable financial solutions to improve services and at same time assist the government to smooth collect revenues in health sector," Nsekela said.

CRDB has already provided digital revenue payment solution to 144 health institutions country wide using various channels namely TemboCard, SimBanking, Internet banking and QR-Code platform.

The Afya Forum was prepared by CRDB and it was attended by President of the Medical Association of Tanzania Dr Elisha Osati, NIHF Director General Bernard Konga, MSD representative and Benjamin Mkapa Foundation.

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