NMB Bank Plc has secured $180 million in financing from international development finance institutions to expand lending to small businesses, farmers and women and youth-led enterprises in Tanzania, a move expected to strengthen entrepreneurship, job creation and agricultural growth across the country.
The funding package was signed during the Africa CEO Forum held in Kigali, Rwanda, on May 14 and 15. The event attracted more than 2,800 business leaders and six African heads of state, including Tanzania’s Prime Minister Mwigulu Nchemba.
The financing includes $100 million from the IFC – International Finance Corporation and a further $80 million jointly provided by British International Investment (BII) and Norfund. The BII and Norfund package consists of $50 million from BII and $30 million from Norfund, with the facility split equally between U.S. dollars and Tanzanian shillings to support broader access to local financing.
The agreement marks one of the largest external capital commitments in NMB Bank’s history and is expected to play a major role in supporting the bank’s 2026 to 2030 strategic plan. The funding will primarily target micro, small and medium-sized enterprises (MSMEs) and agricultural businesses, sectors that remain central to Tanzania’s economy and employment.
Access to affordable and long-term financing remains one of the biggest challenges facing entrepreneurs and farmers in Tanzania. Many small businesses struggle to secure capital needed for expansion, investment and operations, while agricultural producers often face difficulties accessing financing for equipment, inputs and productivity improvements. The new financing package is expected to help bridge that gap and improve access to credit for underserved businesses and farming communities.
The initiative is also expected to have a wider economic impact by supporting local value chains, increasing productivity and strengthening food security. By expanding financing to MSMEs and agriculture, the facility is likely to contribute to employment creation and economic resilience, particularly in sectors that support millions of Tanzanians.
Chris Chijiutomi, Managing Director and Head of Africa at BII, said the latest investment builds on the institution’s existing relationship with NMB Bank following its participation in the bank’s Jamii Sustainability Bond in 2023. He said the financing would help provide long-term and stable capital to MSMEs and agricultural businesses while supporting inclusive growth in Tanzania.
William Nyaoke, Regional Director for East Africa at Norfund, said strengthening access to finance for MSMEs and agricultural enterprises is important for creating jobs, unlocking productivity and building resilient local value chains. He added that the partnership would allow more entrepreneurs and farmers to invest and grow their businesses while supporting their communities.
NMB Bank Managing Director and CEO Ruth Zaipuna said the partnership would enable the bank to expand access to finance, support innovation and strengthen sustainable growth for entrepreneurs and farmers across Tanzania. She said MSMEs and agriculture remain vital drivers of the country’s economy and the new financing would help build a more resilient and prosperous Tanzania.
The deal also further strengthens NMB Bank’s relationship with international development financiers. BII previously backed NMB’s Jamii Bond in 2023, the bank’s first local-currency sustainability bond, making the latest financing an extension of an already growing partnership focused on sustainable and inclusive economic development.
