Tanzania’s small businesses are set to benefit from a new TZS 40 billion financing partnership signed between National Bank of Commerce and British International Investment, in a move expected to expand access to credit and strengthen the country’s private sector growth.
The USD 15 million agreement, signed during the Africa CEO Forum 2026 in Kigali, will provide long-term financing to micro, small and medium-sized enterprises (MSMEs) across Tanzania over the next five years.
The signing ceremony was witnessed by Tanzania’s Minister for Information, Communication and Information Technology, Angellah Kairuki, who represented the government as a shareholder in NBC Bank.
The partnership is expected to increase access to working capital, trade finance and tailored banking solutions for entrepreneurs operating in key productive sectors of the economy.
Speaking during the event, Kairuki said the government would continue creating a favourable environment for private sector investment and business growth.
“This partnership between NBC and BII will significantly improve access to financing for small and medium-sized enterprises, strengthen entrepreneurship and increase the participation of Tanzanian businesses in regional and global markets,” she said.
NBC Managing Director Theobald Sabi said the deal reflects growing confidence among international investors in Tanzania’s economy and the banking sector’s role in supporting inclusive development.
“Small and medium-sized enterprises remain the backbone of Tanzania’s economy because of their contribution to employment creation, production and entrepreneurship,” he said.
He added that the financing would enable businesses to access long-term capital and specialised financial solutions needed to expand operations and improve competitiveness in regional markets.
The funding is also expected to support women- and youth-led enterprises by promoting business formalisation, digital technology adoption and participation in cross-border trade under the African Continental Free Trade Area framework.
On his part, Chris Chijiutomi said the partnership demonstrates BII’s commitment to supporting businesses that continue to face financing challenges across Africa.
He noted that the investment would contribute to economic growth, innovation and job creation in Tanzania.
Industry data shows that MSMEs account for more than 90 per cent of businesses in Tanzania and contribute between 27 and 35 per cent of the country’s Gross Domestic Product (GDP), while employing millions of Tanzanians.
The Africa CEO Forum 2026 brought together policymakers, investors, development finance institutions and business leaders from across Africa to discuss investment opportunities, economic transformation and private sector growth on the continent.
