NMB SECURES US$30 MILLION FROM CHINA DEVELOPMENT BANK TO BOOST SME FINANCING IN TANZANIA

NMB Bank Plc Managing Director and Chief Executive Officer, Ruth Zaipuna (right), shakes hands with China Development Bank (CDB) President, Huang Zhiqiang, during the signing ceremony of a US$30 million loan facility aimed at expanding financing for micro, small and medium-sized enterprises (MSMEs) in Tanzania. The ceremony was held at NMB Bank’s headquarters in Dar es Salaam.

DAR ES SALAAM; November 5, 2026 - NMB Bank Plc has secured a US$30 million loan facility from China Development Bank (CDB) to expand access to financing for small and medium-sized 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 enhancing the bank’s capacity to support Tanzanian enterprises, including businesses engaged in trade with China.

Speaking during the signing ceremony, NMB Bank Managing Director and Chief Executive Officer, Ruth Zaipuna, said limited access to adequate financing remains one of the major challenges facing entrepreneurs seeking to expand their businesses 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,” Zaipuna said.

Strengthening Tanzania-China Trade Relations

Zaipuna said the partnership would further 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 business relationships.

These initiatives form part of NMB’s broader efforts to support businesses involved in international trade by providing financial solutions that simplify cross-border transactions and strengthen commercial partnerships.

Recognition for SME Banking Excellence

The agreement comes following NMB’s recognition by Global Finance as Tanzania’s Best SME Bank for 2026, reflecting the bank’s continued commitment to supporting the growth and development of small and medium-sized enterprises.

The US$30 million facility is expected to enhance NMB’s capacity to provide financing to SMEs, enabling more businesses to invest, expand operations, improve competitiveness and explore new markets.

The partnership also underscores the growing financial and economic cooperation between Tanzania and China, particularly in supporting private-sector development and facilitating international trade.

Ultimately, the financing is expected to contribute to financial inclusion, private-sector investment and Tanzania’s long-term economic development priorities under National Development Vision 2050.