Kairuki oversees 40bn/- NBC-BII MSME financing deal

DAR ES SALAAM: Tanzania’s Minister for Information, Communication and Information Technology, Angela Kairuki, has overseen the signing of a financing partnership worth more than 40bn/ between National Bank of Commerce (NBC) and British International Investment (BII) aimed at expanding financial access for micro, small and medium-sized enterprises (MSMEs) across Tanzania.

The agreement was announced during the Africa CEO Forum 2026 in Kigali over the weekend, where the five-year financing arrangement is intended to support business expansion, strengthen economic resilience and improve the competitiveness of Tanzanian enterprises in key productive sectors.

Minister Kairuki attended the signing ceremony on behalf of the Government of Tanzania, which owns a 30 percent stake in NBC Bank. The event was also attended by NBC Managing Director Theobald Sabi and BII Managing Director and Head of Africa Chris Chijiutomi.

Under the partnership, MSMEs will access working capital, domestic and international trade finance services, and financial solutions designed to help businesses expand and compete more effectively in regional markets.

The initiative is also expected to increase the participation of women and youth in economic activities by supporting business formalization, digital technology adoption and regional trade under the African Continental Free Trade Area.

Speaking during the event, Minister Kairuki said the government would continue creating an enabling environment for the private sector to promote investment, innovation and the competitiveness of Tanzanian businesses in regional and global markets.

She said the partnership between NBC and BII would significantly expand access to capital for small and medium-sized enterprises, strengthen entrepreneurship and increase the participation of Tanzanian businesses in regional and international economies.

On his part, Mr Sabi said the agreement reflects growing confidence among international investors in Tanzania’s private sector and highlights the important role financial institutions play in driving inclusive economic growth.

He noted that MSMEs remain the backbone of Tanzania’s economy because of their major contribution to employment, production and entrepreneurial development.

According to Mr Sabi, the partnership is more than financial support; it is a long-term investment intended to help Tanzanian businesses access capital and tailored financial solutions needed to expand and compete within regional markets.

Mr Sabi added that NBC would continue supporting Tanzania’s national development agenda through initiatives aimed at strengthening financial inclusion and unlocking broader economic opportunities for entrepreneurs across the country.

Expanding, Mr Chijiutomi said the partnership demonstrates BII’s commitment to supporting businesses that continue facing challenges in accessing financial services.

He noted that the initiative is expected to contribute to economic growth, innovation and job creation in Tanzania.

Industry statistics show that MSMEs account for more than 90 percent of businesses in Tanzania and contribute between 27 and 35 percent of the country’s Gross Domestic Product while employing millions of Tanzanians. The figures underline the importance of expanding access to financing for small businesses as part of broader efforts to strengthen the country’s economy.

The Africa CEO Forum 2026 brought together policymakers, investors, development finance institutions and business leaders from across Africa to discuss economic transformation, investment opportunities and private sector growth across the continent.