Absa Bank Tanzania and Knauf Gypsum Tanzania Sign MoU to Launch Distributor Financing Programme

Absa Bank Tanzania Managing Director, Mr. Obedi Laiser (right), and Knauf Gypsum Tanzania Managing Director, Mr. Christoforos Stamoulakatos, sign a Memorandum of Understanding (MoU) aimed at establishing a Distributor Financing Programme in Dar es Salaam today. The initiative seeks to enable Knauf distributors to access business capital more easily, strengthen the supply chain, and drive growth in the construction sector in Tanzania. Left is Knauf Legal Counsel, External & Government Affairs Manager, Ms. Flora Erasto and Absa Bank Tanzania Company Secretary, Mr. Desmond Malyi.

Absa Bank Tanzania and Knauf Gypsum Tanzania today signed a Memorandum of Understanding (MoU) to launch a Distributor Financing Programme aimed at strengthening Knauf's distribution network and improving access to financing for its distributors across Tanzania.

The partnership marks a significant milestone in the long-standing relationship between the two organizations and reinforces their shared commitment to supporting business growth, strengthening supply chains and driving sustainable economic development.

Under the programme, Absa Bank Tanzania will provide tailored financing solutions to eligible distributors within Knauf's network, subject to the Bank's credit assessment process and approved exposure limits. The initiative is expected to onboard approximately 30 to 40 distributors into the Bank's portfolio, providing them with enhanced access to working capital and business financing solutions.

Speaking during the signing ceremony held at Knauf Gypsum Tanzania's headquarters in Dar es Salaam, Absa Bank Tanzania Managing Director, Obedi Laiser, said: "This partnership demonstrates the power of ecosystem banking in supporting business growth and creating shared value. By extending financing solutions to distributors within Knauf's network, we are helping businesses build capacity, improve efficiency and seize growth opportunities. As Absa, we remain committed to empowering Africa's tomorrow, together, one story at a time – this is the purpose of our existence."

The Distributor Financing Programme will enable participating distributors to access funding solutions that support inventory purchases, working capital requirements and business expansion, helping strengthen the overall distribution ecosystem while improving product availability in the market.

Christoforos Stamoulakatos, the Managing Director of Knauf Gypsum Tanzania, welcomed the partnership and emphasized its importance in supporting the company's distribution network.

"Our distributors are a critical part of our growth journey and our ability to serve customers across Tanzania. Through this partnership with Absa Bank Tanzania, we are creating opportunities for our distributors to access financial solutions that can support their growth and strengthen their ability to meet increasing market demand."

The collaboration aligns with Absa Bank Tanzania's strategic focus on ecosystem banking, which seeks to provide integrated financial solutions that support entire value chains and unlock growth opportunities for businesses of all sizes.

As one of Absa Bank Tanzania's key Corporate Banking clients and a strategic partner within Corporate and Institutional Banking (CIB), Knauf continues to play an important role in the country's construction sector. The new financing programme is expected to deepen collaboration between the two organizations while creating additional opportunities for engagement across Knauf's operations and value chain.

The signing ceremony was attended by senior executives from both organizations, distributors, business partners and members of the media. 

Absa Bank Tanzania Managing Director, Mr. Obedi Laiser (right), and Knauf Gypsum Tanzania Managing Director, Mr. Christoforos Stamoulakatos, exchange copies of the Memorandum of Understanding (MoU) during the signing ceremony in Dar esSalaam today. The agreement aims to establish a Distributor Financing Programme designed to enable Knauf distributors to access business capital more easily, strengthen the supply chain, and support the growth of Tanzania’s construction sector.  Left is Knauf Legal Counsel, External & Government Affairs Manager, Ms. Flora Erasto and Absa Bank Tanzania Company Secretary, Mr. Desmond Malyi.

Absa Bank Tanzania Managing Director, Mr. Obedi Laiser, and Knauf Gypsum Tanzania Managing Director, Mr. Christoforos Stamoulakatos, pose for a group photograph with staff members from both organisations during the signing ceremony of a Memorandum of Understanding (MoU) to launch a Distributor Financing Programme. The initiative aims to provide Knauf distributors with easier access to working capital, strengthen the supply chain, and accelerate the growth of Tanzania's construction sector. The signing ceremony was held in Dar es Salaam today. (Photos: Mgongo Media)