The African Import-Export Bank (Afreximbank) has committed to mobilizing $1 billion over the coming year to accelerate Tanzania’s economic development, focusing on critical sectors that align with the country’s national growth strategy.
The pledge was announced on Thursday, May 22, during a high-profile roadshow titled “Innovative Financing Solutions for Tanzania’s Sustainable Growth,” held in partnership with the Central Bank of Tanzania.
Eric Monchu Intong, Afreximbank’s Director-General responsible for customer relations, addressed an audience of government officials, financial leaders, and private sector representatives, emphasizing that the funding will target key areas ripe for business expansion.
These sectors include manufacturing, healthcare, ports, airports, oil refineries, and the development of small and medium-sized enterprises (SMEs).
He encouraged Tanzanian businesses to submit bankable projects with “impact and scope,” while highlighting Afreximbank’s suite of credit guarantee products, specialized financing tools, SME support programs, and upcoming strategic platforms such as the bank’s annual meetings in Abuja and the Intra-African Trade Fair (IATF 2025) in Algiers.
Afreximbank, a pan-African institution dedicated to promoting intra- and extra-African trade through financing, already holds $2.4 billion in commitments within Tanzania.
Its past investments include the $800 million Julius Nyerere hydropower project and the $200 million East Africa Crude Oil Pipeline.
In addition, the bank has provided $350 million in credit lines to Tanzanian commercial banks and extended direct loans totaling $80 million to the private sector.
This $1 billion mobilization effort aligns closely with Tanzania’s current Five-Year Development Plan (FYDP III), which prioritizes industrial expansion, infrastructure development, expanded energy access, and deeper regional integration.
Afreximbank’s support signals a strong vote of confidence in Tanzania’s ambitious economic agenda and underlines the bank’s role as a key partner in the country’s drive toward sustainable growth.
