Boost for SMEs, agrifinance as NMB lands over Sh450 billion deals
NMB Bank Plc managing director and chief executive officer, Ruth Zaipuna (left), and IFC Regional Vice President for Africa, Ethiopis Tafara, sign documents to cement a $100 million financing agreement on the sidelines of the Africa CEO Forum in Kigali, Rwanda. PHOTO | Correspondent
Kigali. NMB Bank Plc has signed two strategic financing agreements worth a combined $180 million (over Sh450 billion) with International Finance Corporation (IFC), British International Investment and Norfund to expand lending to small and medium-sized enterprises (SMEs), agribusinesses, women-led enterprises and youth-driven businesses across Tanzania.
The agreements, signed on the sidelines of the Africa CEO Forum in Kigali, comprise $100 million from IFC and $80 million from BII and Norfund.
