The Government of Tanzania, under the leadership of President Dr. Samia Suluhu Hassan, is urging small-scale entrepreneurs to take advantage of affordable government-backed loans aimed at boosting economic empowerment.
The initiative is being implemented through the Ministry of Community Development, Gender, Women, and Special Groups in collaboration with NMB Bank.
The loans, offered at a low annual interest rate of 7 percent, are designed for small business operators whose annual sales do not exceed TZS 4 million.
Eligible beneficiaries include food vendors, porters, bodaboda riders, tricycle and taxi operators, and other recognized and registered community groups across the country.
To access the funds, applicants must be registered in the Small Business Identification and Registration System (WBN–MIS) through their local Community Development Officer.
They must also be Tanzanian citizens aged 18 or above, running a recognized business in their area, and possess a National Identification Card (NIDA) or NIDA number.
The application process is simple and convenient. Entrepreneurs with a digital ID or NIDA number can visit NMB Bank to fill out the application form and submit the required documents.
All applications will be verified and processed according to the bank’s procedures, and approved applicants will have the funds directly deposited into their accounts.
The loans come with favorable conditions compared to standard commercial loans. Repayment periods range from three (3) to twenty-four (24) months depending on the type of business, and each loan is insured against death or permanent disability to safeguard both the borrower and their family.
The government is calling on all small business operators to take full advantage of this opportunity. It is part of a broader strategy to increase business capital, create employment, grow enterprises, and improve citizens’ livelihoods while fostering inclusive economic growth.
Those not yet registered in the WBN–MIS system are encouraged to visit their local ward or district offices to complete the registration process.
The Ministry and NMB Bank will continue to ensure that the loans reach eligible beneficiaries transparently, fairly, and on time, while emphasizing disciplined repayment to benefit as many citizens as possible.
The initiative reflects the government’s commitment to empowering citizens economically and building a nation with opportunities, equality, and prosperity for all.