Boost for SMEs, agrifinance as NMB lands over Sh450 billion deals

The facilities are expected to strengthen NMB’s lending capacity and support the provision of longer-term structured financing to businesses operating in key productive sectors of the economy.

NMB said in a statement yesterday that the funding will help address growing demand for credit among expansion-oriented enterprises, particularly those seeking working capital, investment financing and support to strengthen supply chains.

The statement further added that the facilities also align with its Medium-Term Strategic Plan 2026–2030, which focuses on responsible growth, financial inclusion and sustainable finance.

Speaking during the signing ceremony, NMB managing director and chief executive officer Ruth Zaipuna said the agreements reflected growing international confidence in the bank’s strategy, governance and contribution to Tanzania’s development agenda.

“Securing these facilities... is a strong endorsement of NMB Bank’s growth strategy and development mandate.

The additional long-term capital will enable us to expand financing to SMEs, agribusinesses, women entrepreneurs and youth-led enterprises..,” said Ms Zaipuna.

She said the facilities would strengthen the bank’s ability to provide fit-for-purpose financing, accelerate product innovation and deepen partnerships across value chains to support resilient business growth and wider socio-economic impact.

Managing Director and Head of Africa at BII, Chris Chijiutomi, said the latest commitment builds on the institution’s existing partnership with NMB.

“This latest commitment builds on our enduring partnership with NMB Bank since we invested in NMB’s Jamii Sustainability Bond in 2023.

By providing and mobilising long-term, stable capital to MSMEs and agricultural businesses, BII is supporting Tanzania’s inclusive and resilient growth alongside NMB Bank’s continued efforts to provide more tailored and accessible financing solutions to underserved businesses across the country,” he said.

The transactions further position NMB among Tanzania’s leading financial institutions in mobilising development finance for the private sector.

The bank said it would deploy the facilities in line with its strategic priorities, with a focus on expanding access to finance for entrepreneurs and supporting growth in productive sectors of the economy.