NMB Bank has committed TZS 224 billion (about USD 100 million) to a USD 500 million syndicated loan for AngloGold Ashanti's Geita Gold Mine, strengthening the participation of local financial institutions in financing large-scale mining investments.
The financing facility, arranged by Nedbank Corporate and Investment Banking, makes NMB the largest Tanzanian bank participating in the transaction.
The lender said the investment forms part of its 2026–2030 medium-term strategy, which prioritises financing sectors with the potential to support economic growth, exports and industrial development.
Mining remains one of Tanzania's leading foreign exchange earners, with gold accounting for a significant share of the country's mineral exports.
Geita Gold Mine is among the country's largest gold producers and a key contributor to government revenue, employment and local procurement.
According to NMB Managing Director and Chief Executive Officer Ruth Zaipuna, the transaction demonstrates the bank's growing capacity to participate in complex financing deals alongside regional and international lenders.
"This transaction demonstrates NMB's ability to participate in sophisticated, large-scale financing alongside leading regional and international financial institutions while ensuring Tanzanian capital plays a meaningful role in financing nationally strategic investments," she said.
She noted that directing capital towards strategic sectors such as mining supports Tanzania's broader economic objectives by strengthening exports, foreign exchange earnings and local business participation.
"Financing investments of this scale enables us to strengthen a sector that drives exports, foreign exchange earnings, local enterprise development, employment and sustainable economic transformation," Ms Zaipuna added.
The syndicated financing will support AngloGold Ashanti's continued investment in Geita Gold Mine, helping sustain production, expand local procurement and maintain employment opportunities.
NMB said it has cumulatively extended approximately TZS 400 billion in financing to Tanzania's mining industry, supporting investment across the mining value chain and the growth of local suppliers.
The bank also acknowledged Nedbank Corporate and Investment Banking for arranging and underwriting the syndicated facility, saying the partnership reflects growing collaboration among African financial institutions in financing strategic projects.
NMB Bank is listed on the Dar es Salaam Stock Exchange and serves more than 10 million customer accounts through a nationwide network of branches, banking agents and digital platforms.
