I&M Bank Tanzania has launched its Asset Financing service alongside the handover of 15 Mahindra vehicles to a client, marking a significant expansion of its support to businesses seeking income-generating assets.
The launch, held in Dar es Salaam on November 28, 2025, comes as the bank surpasses TZS 508 billion in financed assets nationwide—a milestone that spans multiple sectors, including transport, construction, agriculture, manufacturing and logistics.
Speaking at the event, Simon Gachahi, Head of Retail Banking at I&M Bank Tanzania, said the new service is designed to remove barriers that constrain business growth.
“Today we are proud to hand over Mahindra vehicles that will immediately start generating economic activity,” he said.
“Reaching TZS 508 billion in financed assets—with Mahindra Tanzania as a trusted partner—shows that our Asset Finance service is driving real development.”
He said the partnership with Mahindra Tanzania blends quality vehicles and flexible, customer-focused financing.
“This collaboration enables businesses to expand their fleets faster and with confidence,” he added. “It is a clear example of what happens when accessible financing meets reliable assets.”
The Asset Finance service allows customers to acquire vehicles, machinery and equipment with up to 90 percent financing for new assets and 80 percent for used assets, with repayment periods of up to 60 months.
The product targets individuals and businesses seeking to invest in commercial vehicles, construction machinery, specialised equipment and other income-generating asset.
Mr Gachahi said the bank plans to expand its dealer network and introduce additional solutions, including revolving credit facilities, to meet the growing needs of businesses.
GF Automobile Sales Director, Mujtaba Karmali, praised the government for improving the business climate, noting that the company is exploring plans to establish a vehicle assembly plant in the country.
“We urge the government to continue prioritising local companies, as this will expand jobs and increase revenue,”* he said.
Synarete Company CEO, Deep Joshi, said the partnership would ease access to specialised vehicles for tower engineers, helping improve communication infrastructure.
“These new vehicles will allow engineers to deliver faster and more reliable services, especially in Dar es Salaam,” he said.
The bank says the service will continue to play a key role in enabling Tanzanians to acquire productive assets and fuel the growth of key sectors in the economy.