By The Respondent Reporter
Tanzania is strengthening its partnership with British International Investment (BII), the U.K.’s development finance institution, to accelerate investments in sectors that drive economic growth and social impact.
The move was highlighted during a London meeting between Tanzanian Foreign Minister Ambassador Mahmoud Thabit Kombo and BII’s Managing Director for Africa, Christopher Chijiutomi.
Tanzania has emphasized private sector-led growth as a key component of its Development Vision 2050, with priority areas including renewable energy, agribusiness, digital finance, healthcare, education, and transport infrastructure.
BII’s catalytic investments align with these ambitions, unlocking capital and technical expertise.
BII’s current portfolio in Tanzania totals $64.8 million across 23 companies in clean energy, telecommunications, and financial services.
These investments have created thousands of jobs, expanded access to electricity and digital services, and strengthened local value chains.
The partnership recently supported the issuance of the NMB Jamii Sustainability Bond on the London Stock Exchange, a landmark for ESG-compliant financing in East Africa.
The bond demonstrates how innovative financial instruments can mobilize capital for citizen-centered development while meeting international standards.
Minister Kombo also highlighted opportunities for BII to expand climate-focused investments, including renewable energy, climate-smart agriculture, forestry, and nature-based projects, emphasizing their role in scaling Tanzania’s green growth initiatives.
“As Tanzania accelerates its economic transformation, we value BII as a strategic partner in mobilizing finance, expertise, and sustainable solutions that deliver tangible outcomes for businesses and citizens alike,” Kombo said.