Exim Bank, developer partner for mortgage financing
Head of retail banking at Exim Bank Tanzania, Mr Andrew Lymo (second left) and director of Simba Developers Limited, Mr Yusuf Hatimali Ezzi (second right), sign a memorandum of understanding to formalise a new partnership that will provide home loans at the weekend in Dar es Salaam. Others include the bank’s head of legal, Mr Edmund Mwasaga (left) and Simba Developers’ chief executive officer, Mr Aliasgar Hatimali Ezzi. PHOTO|COURTESY
Under the weekend arrangement, Exim Bank customers can obtain mortgage facilities of up to Sh1 billion through the bank’s Personal and Preferred Banking categories, and up to Sh1.5 billion under its Elite Banking segment.
Dar es Salaam. Exim Bank Tanzania has signed a partnership agreement with housing builder Simba Developers Limited to expand access to residential mortgage financing and make home ownership more accessible for more Tanzanians.
The collaboration introduces flexible home-loan options under the bank’s Nyumba Yangu mortgage product, specifically tailored for customers seeking to purchase modern residential units developed by Simba Developers Ltd, the two companies said in a statement.
The initiative comes amid rising demand for affordable housing finance in Tanzania’s urban and peri-urban areas, where many prospective homeowners struggle with high costs and limited access to long-term financing.
Under the weekend arrangement, Exim Bank customers can obtain mortgage facilities of up to Sh1 billion through the bank’s Personal and Preferred Banking categories, and up to Sh1.5 billion under its Elite Banking segment.
The loans come with competitive and negotiable interest rates, the bank stated.
“Owning a home is one of the most significant milestones for many Tanzanians,” said Exim Bank Tanzania’s head of retail banking, Mr Andrew Lymo.
“Through our partnership with Simba Developers, we are simplifying the home-buying journey by offering flexible financing options and making it easier for more Tanzanians to achieve their home-ownership dreams,” he said.
Simba Developers Ltd director Yusuf Hatimali Ezzi said the company’s residential projects were designed to provide modern, safe and comfortable living environments.
“Partnering with Exim Bank ensures our buyers can access financing quickly and seamlessly, helping families move into their ideal homes with confidence,” he said.
By streamlining loan approvals and offering adaptable financing limits, the two institutions aim to set new benchmarks for accessible, high-quality residential housing in the country.
It also reflects the bank’s broader commitment to supporting national development by widening access to mortgage financing and promoting the expansion of quality housing stock.
For customers, this collaboration offers quicker mortgage processing, increased loan options, and easy access to modern homes that accommodate various budgets and lifestyle preferences.
