Afreximbank Commits $1B More to Boost Tanzania’s Growth
Afreximbank pledges $1B more to accelerate Tanzania’s infrastructure, trade, and SME growth, reinforcing its role as a long-term partner.
African Export-Import Bank (Afreximbank) in collaboration with the Bank of Tanzania, convened government leaders, financial institutions, and private sector stakeholders for a high-level roadshow under the theme “Innovative Financing Solutions for Tanzania’s Sustainable Growth.” The event showcased the Bank’s robust commitment to accelerating Tanzania’s economic transformation through tailored trade and project financing.
Addressing the gathering, Mr. Eric Monchu Intong , Group Managing Director, Client Relations at Afreximbank, affirmed the Bank’s strategic intent: to stand with Tanzania as a long-term financing partner across the public and private sectors. With 53 African countries and 12 CARICOM nations now on board as participating states, Afreximbank continues to expand its influence as Africa’s Trade Finance Bank.
The Bank highlighted a strong portfolio of interventions in Tanzania amounting to over USD 2.4 billion. These include:
- USD 800 million in guarantees for the Julius Nyerere Hydro-Power Project Contributions to the multi-phase Standard Gauge Railway
- USD 200 million for the East Africa Crude Oil Pipeline
- USD 350 million in credit lines to commercial banks
- USD 80 million extended directly to the private sector
Afreximbank’s investments are closely aligned with Tanzania’s national development priorities—particularly the current Five-Year Development Plan (FYDP III)—which targets industrial growth, infrastructure expansion, energy access, and regional integration.
Mr. Intong made a bold announcement: Afreximbank is ready to deploy an additional USD 1 billion in financing within the next 12 months, focused on trade-enabling sectors including manufacturing, healthcare, ports, airports, refineries, and SME development. He urged participants to present bankable projects that will drive impact and scale, underscoring the Bank’s readiness to act swiftly and decisively.
The roadshow also featured presentations on Afreximbank’s credit guarantee products, specialised finance instruments, SME support programmes, and upcoming strategic platforms like the Afreximbank Annual Meetings in Abuja and Intra-African Trade Fair IATF (IATF2025) in Algiers.
Afreximbank is investing in the country’s long-term success. Through catalytic financing and strong partnerships, the Bank aims to support Tanzania in becoming a leading engine of sustainable growth in East Africa.
