The National Housing Corporation (NHC) has partnered with nine financial institutions to widen access to housing finance, in a move aimed at helping more Tanzanians, including those living abroad, realise their dream of owning homes.
The partnership brings together housing developers and lenders to provide prospective buyers with information on mortgage products, repayment terms and financing options that could make homeownership more attainable.
NHC Director General Hamad Abdallah said collaboration with financial institutions was key to advancing President Samia Suluhu Hassan’s vision of enabling more Tanzanians to own quality, modern homes.
Speaking during the climax of Customer Service Week at the Kawe 711 housing project in Dar es Salaam on October 16, 2026, Mr Abdallah said the corporation was strengthening partnerships with banks to improve access to housing loans for workers, businesspeople, investors and Tanzanians in the diaspora.
“We want to fulfil the dream of our President, Dr Samia Suluhu Hassan, of enabling more Tanzanians to own homes. This can be achieved through partnerships with banks that provide housing loans to Tanzanians living in the country and those abroad,” he said.
The nine financial institutions involved are Bank, NMB Bank, NBC, Azania Bank, Absa Bank, Equity Bank, Bank of Africa, Tanzania Commercial Bank (TCB) and First Housing Finance.
Mr Abdallah said bringing the banks together with prospective homebuyers would allow customers to obtain information directly from financial experts, compare lending conditions and make informed decisions based on their financial circumstances.
The initiative also targets Tanzanians living abroad, who may be seeking to invest in residential property at home but need reliable financing arrangements to complete their purchases.
Speaking on behalf of Azania Bank, Sampson Mahindi said the bank had partnered with NHC for about 15 years, helping Tanzanians acquire homes in developments including Kawe in Dar es Salaam and Iyumbu in Dodoma.
He said the bank offered housing loans with repayment periods of up to 25 years, while some projects had special financing arrangements carrying an interest rate of nine per cent.
Such arrangements could ease the repayment burden for eligible buyers, although borrowers would need to establish the applicable terms and conditions before committing to a loan.
An Equity Bank representative said the institution had extensive experience in housing finance and a longstanding relationship with NHC. The bank could provide loans of up to Sh3.5 billion to an individual borrower, subject to its lending criteria.
TCB Housing Loans Manager Maria Mbuta said the bank offered financing tailored to customers’ needs and financial capacity, including loans for buying, constructing and renovating homes.
Absa Bank representatives said the institution could finance up to 90 per cent of a property's purchase price, with loans of up to Sh1 billion, subject to the applicable conditions. The bank also offered financial services for Tanzanians living abroad.
First Housing Finance representative Fausta Arnold said the institution focused on providing housing loans to employees and businesspeople, with repayment periods of up to 20 years.
She commended NHC for developing quality homes and urged Tanzanians to explore available financing options as a way of turning homeownership ambitions into reality.
Representatives of CRDB Bank, NMB Bank, NBC and Bank of Africa also encouraged prospective buyers to consider their housing finance products. NMB highlighted repayment arrangements that could take account of customers’ income patterns.
The range of products presented at the event underscored the importance of comparing interest rates, repayment periods, initial deposits and other lending conditions before choosing a mortgage.
For prospective homeowners, access to financing can reduce the need to raise the entire purchase price upfront. However, the affordability of a property ultimately depends on the buyer’s income, loan terms and ability to meet repayments over time.
Kezma Inc Limited Managing Director Mablu Kiambali, who has already purchased a house from NHC, urged Tanzanians to consider residential property as both a housing solution and a potential investment.
He said a property could serve as a family home or generate additional income through rentals, including for owners who are employed elsewhere or live abroad.
Mr Kiambali commended NHC for developing quality housing projects and encouraged prospective buyers to explore available financing rather than waiting until they had saved the full purchase price.
He said property ownership could provide long-term value while offering an opportunity to earn rental income, depending on market conditions and the costs associated with maintaining the property.
The Kawe 711 project was among the developments highlighted during the event as an example of NHC’s approach to modern residential housing.
Mr Abdallah said the project comprised 122 housing units designed to meet contemporary living needs. Facilities include water storage systems, backup generators, sports facilities and a swimming pool.
Located about 50 metres from the Indian Ocean, the development also offers a coastal setting that NHC believes adds to its residential appeal and potential investment value.
“There is owning a house, but there is also owning a house in a good location. The value of a house depends on its location, location and location,” Mr Abdallah stressed.
He said NHC would continue developing housing projects in areas with suitable infrastructure and living environments while working with financial institutions to expand access to homeownership.
The partnership comes as housing finance remains an important consideration for Tanzanians seeking to acquire property without paying the full purchase price at once.
By bringing lenders and prospective buyers together, NHC aims to improve awareness of available mortgage products and create more opportunities for people to make informed housing decisions.
For prospective buyers, the next step is to assess their financial capacity, compare loan offers and understand the full cost of borrowing before committing to a purchase. For NHC and its banking partners, the challenge will be to translate the expanded range of financing options into affordable, sustainable homeownership for more Tanzanians.