Development finance institutions British International Investment (BII) and Norfund have provided a combined $80 million financing package to NMB Bank to expand lending to micro, small and medium-sized enterprises (MSMEs) and agricultural businesses in Tanzania.

The facility includes $50 million from BII and $30 million from Norfund and is evenly split between U.S. dollars and Tanzanian shillings.

“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 with NMB Bank’s continued efforts to provide more tailored, accessible financing solutions to underserved businesses across the country,” said Chris Chijiutomi, Managing Director and Head of Africa at BII.

William Nyaoke, Regional Director for East Africa at Norfund, added: “Strengthening access to finance for Tanzania’s MSMEs and agricultural enterprises is essential for creating jobs, unlocking productivity, and building resilient local value chains. This commitment ensures that more entrepreneurs and farmers can invest, grow, and support their communities. We are proud to join forces with BII and NMB to expand development impact.”

The funding is intended to increase access to credit for entrepreneurs and agricultural producers, supporting employment, local value chains and food security across the country.

MSMEs and agriculture remain central to Tanzania’s economy, accounting for a significant share of employment and economic activity.

The financing is aimed at helping underserved businesses and farming communities access longer-term capital.

“At NMB Bank, we are committed to empowering Tanzania’s MSMEs and agricultural sector, which are vital drivers of our economy. This partnership with British International Investment and Norfund will enable us to expand access to finance, foster innovation, create jobs, strengthen local value chain and support sustainable growth for entrepreneurs and farmers across the country. Together, we are building a more resilient and prosperous Tanzania,” commented Ruth Zaipuna, Managing Director and CEO at NMB Bank.