By A Special Correspondent
NMB Bank Plc has secured a US$30 million loan facility from China Development Bank (CDB) to expand access to financing for general enterprises (SMEs) in Tanzania, providing additional capital to support business expansion, investment and trade.
The financing agreement was signed at NMB Bank’s headquarters in Dar es Salaam, strengthening cooperation between the two financial institutions and increasing the bank’s capacity to support Tanzanian enterprises, including businesses engaged in trade with China.
Speaking at the signing ceremony, NMB Bank Managing Director and Chief Executive Officer Ruth Zaipuna said limited access to adequate financing remained a major challenge for entrepreneurs seeking to expand their operations and compete in wider markets.
“Small businesses are central to Tanzania’s economy, yet access to adequate financing remains a challenge for many entrepreneurs. This US$30 million facility will strengthen our ability to respond to their financing needs, support business expansion and facilitate trade. Our focus is to ensure that more Tanzanian businesses have access to the capital they need to grow,” Ms Zaipuna said.
She said the partnership would strengthen NMB’s relationships with Chinese financial institutions and business partners, creating additional opportunities for Tanzanian importers and exporters to access financing and cross-border payment services.
Through its partnership with China’s Cross-border Interbank Payment System (CIPS), NMB provides renminbi (RMB) payment services, RMB-denominated business accounts and trade finance solutions designed to facilitate transactions between Tanzania and China.
The bank also facilitates Canton Fair business tours, connecting Tanzanian entrepreneurs with Chinese manufacturers and suppliers to explore commercial opportunities and establish new trading relationships.
The agreement follows NMB’s recognition by Global Finance as Tanzania’s Best SME Bank for 2026, reflecting the bank’s focus on supporting small and medium-sized businesses. The facility is expected to strengthen financial cooperation between Tanzania and China while supporting private-sector investment, financial inclusion and the country’s long-term development priorities under National Development Vision (Dira) 2050.
