Thursday, October 2, 2025
  • Who’sWho Africa AWARDS
  • About TimeAfrica Magazine
  • Contact Us
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
No Result
View All Result
  • Home
  • WHO’SWHO AWARDS
  • News
  • Magazine
  • World News

Home » News » AfDB Approves $10M Trade Guarantee to Exim Bank Tanzania for SMEs, Local Firms

AfDB Approves $10M Trade Guarantee to Exim Bank Tanzania for SMEs, Local Firms

Exim Bank is Tanzania's fourth largest bank, with operations in Uganda, Djibouti, and Comoros

September 27, 2025
in News
0
African Development Bank Group (AfDB) approves $10 million trade finance guarantee to Exim Bank Tanzania to support Small and medium-sized enterprises (SME) and local corporates

African Development Bank Group (AfDB) approves $10 million trade finance guarantee to Exim Bank Tanzania to support Small and medium-sized enterprises (SME) and local corporates

541
SHARES
4.5k
VIEWS
Share on FacebookShare on Twitter

ABIDJAN, Ivory Coast – The African Development Bank Group (www.AfDB.org) Board of Directors has approved a $10 million trade finance transaction guarantee facility for Exim Bank Tanzania Limited to unlock and de-risk trade deals.

The facility will provide up to 100 percent guarantees to international confirming banks against risks of non-payment. This support will release trade finance lines for Exim, expand access to essential imports, and strengthen Tanzania’s private sector.

The new facility is expected to support up to $60 million in trade transactions over three years. The support will help Exim reduce its dependence on scarce foreign exchange collateral required by international banks, thus freeing resources for more productive lending to local businesses active in intra-African and international trade.

Supporting trade is a key priority of the African Development Bank, the Head of Trade Finance, Lamin Drammeh said, following the approval. “Trade finance is essential for Africa’s economic development, facilitating both domestic and international trade, boosting economic growth and promoting regional integration.”

ReadAlso

DHL Launches Exporters of the Year Awards across Sub-Saharan Africa for Small and Medium-sized Enterprises (SMEs)

Balancing Today and Tomorrow: Africa in The Global Energy Trends and Transitions

Small and medium-sized enterprises (SMEs) make up over 90% of Tanzanian businesses and account for a third of GDP. However, a $1.3 billion annual trade finance gap limits progress and continues to hold them back.

“SMEs and corporates are vital engines of industrialization, innovation, and job creation, and this facility will remove barriers to cross-border trade while opening doors for new partnerships with global and regional financial institutions,” Jaffari Matundu, Chief Executive Officer of Exim Bank Tanzania Limited said.

ADVERTISEMENT

Key sectors such as agriculture, health, energy, and manufacturing will benefit by supporting the imports of essential goods such as fertilizer, pharmaceuticals, and farming equipment, as well as the export of Tanzanian commodities like coffee, cashew, and cotton.

Exim Bank is Tanzania’s fourth largest bank, with operations in Uganda, Djibouti, and Comoros. The facility will be implemented through agreements with Exim and participating confirming banks.

This project aligns with the African Development Bank’s 2024-2033 Ten-Year Strategy, the 2021-2025 Tanzania Country Strategy Paper which prioritizes improved private sector business environment for job creation through improved private sector access to finance, and the government’s Tanzania Vision 2025, which emphasizes a strong, competitive economy.

“This partnership with Exim Bank Tanzania demonstrates the African Development Bank Group’s commitment to reducing Tanzania’s trade finance gap, empowering local businesses to compete globally and create more jobs across the country,” Drammeh said.

Tags: AfricaBanking/FinanceBusinessComorosinvestmenttanzaniaTrade
ADVERTISEMENT
Previous Post

African Leaders Call for Bold, United Action to Tackle Global Health Crises, Sustain Malaria Progress

Next Post

Seychelles president seeks second term as people vote in African tourist haven

You MayAlso Like

News

The Guardian Newspaper Names Enugu Commissioner, Dr. Lawrence Ezeh, Amongst 65 Most Inspiring, Award-Winning Business Leaders

October 2, 2025
News

Moroccans clash with police during protests against World Cup spending

October 1, 2025
ExxonMobil Foundation Brings STEM Regional Competition to African Energy Week
News

ExxonMobil Foundation Brings STEM Regional Competition to African Energy Week

September 30, 2025
CLG: Africa Offers Growing Potential for Cross-Border Investment (1)
News

CLG: Africa Offers Growing Potential for Cross-Border Investment

September 30, 2025
News

Democratic Republic of Congo Minister of Mines to Speak at African Mining Week 2025

September 30, 2025
News

Egyptian ‘strong man’ pulls 700-ton ship with his teeth

September 28, 2025
Next Post

Seychelles president seeks second term as people vote in African tourist haven

World leaders step up efforts behind the scenes at the UN to end the war in Sudan

Discussion about this post

FIFA Strips South Africa of World Cup Qualifying Points After Administrative Blunder

Leaked Documents Reveal How Fr. Edwin Obiora Exploited Legal Instruments to Manipulate Late Msgr. Prof. John Bosco Akam

French ex-president Nicolas Sarkozy sentenced to five years in prison in Libyan campaign-financing trial

The Guardian Newspaper Names Enugu Commissioner, Dr. Lawrence Ezeh, Amongst 65 Most Inspiring, Award-Winning Business Leaders

Egyptian ‘strong man’ pulls 700-ton ship with his teeth

Six beers that are good for your gut health – and the ones to avoid

  • British government apologizes to Peter Obi, as hired impostors, master manipulators on rampage abroad

    1241 shares
    Share 496 Tweet 310
  • Maids trafficked and sold to wealthy Saudis on black market

    1067 shares
    Share 427 Tweet 267
  • Flight Attendant Sees Late Husband On Plane

    973 shares
    Share 389 Tweet 243
  • ‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

    904 shares
    Share 361 Tweet 226
  • Crisis echoes, fears grow in Amechi Awkunanaw in Enugu State

    735 shares
    Share 294 Tweet 184
  • Trending
  • Comments
  • Latest

British government apologizes to Peter Obi, as hired impostors, master manipulators on rampage abroad

April 13, 2023

Maids trafficked and sold to wealthy Saudis on black market

December 27, 2022
Flight Attendant Sees Late Husband On Plane

Flight Attendant Sees Late Husband On Plane

September 22, 2023
‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

March 21, 2023
Chief Mrs Ebelechukwu, wife of Willie Obiano, former governor of Anambra state

NIGERIA: No, wife of Biafran warlord, Bianca Ojukwu lied – Ebele Obiano:

0

SOUTH AFRICA: TO LEAVE OR NOT TO LEAVE?

0
kelechi iheanacho

TOP SCORER: IHEANACHA

0
Goodluck Ebele Jonathan

WHAT CAN’TBE TAKEN AWAY FROM JONATHAN

0

The Guardian Newspaper Names Enugu Commissioner, Dr. Lawrence Ezeh, Amongst 65 Most Inspiring, Award-Winning Business Leaders

October 2, 2025

Poor sleep could make your brain age faster, study finds

October 2, 2025

Moroccans clash with police during protests against World Cup spending

October 1, 2025
ExxonMobil Foundation Brings STEM Regional Competition to African Energy Week

ExxonMobil Foundation Brings STEM Regional Competition to African Energy Week

September 30, 2025

ABOUT US

Time Africa Magazine

TIMEAFRICA MAGAZINE is an African Magazine with a culture of excellence; a magazine without peer. Nearly a third of its readers hold advanced degrees and include novelists, … READ MORE >>

SECTIONS

  • Aviation
  • Column
  • Crime
  • Europe
  • Featured
  • Gallery
  • Health
  • Interviews
  • Israel-Hamas
  • Lifestyle
  • Magazine
  • Middle-East
  • News
  • Politics
  • Press Release
  • Russia-Ukraine
  • Science
  • Special Report
  • Sports
  • TV/Radio
  • UAE
  • UK
  • US
  • World News

Useful Links

  • AllAfrica
  • Channel Africa
  • El Khabar
  • The Guardian
  • Cairo Live
  • Le Republicain
  • Magazine: 9771144975608
  • Subscribe to TIMEAFRICA MAGAZINE biweekly news magazine

    Enjoy handpicked stories from around African continent,
    delivered anywhere in the world

    Subscribe

    • About TimeAfrica Magazine
    • Privacy Policy
    • Contact Us
    • WHO’SWHO AWARDS

    © 2025 TimeAfrica Magazine - All Right Reserved. TimeAfrica Magazine Ltd is published by Times Associates, registered Nigeria. Use of this site constitutes acceptance of our Terms of Service.

    No Result
    View All Result
    • WHO’SWHO AWARDS
    • Politics
    • Column
    • Interviews
    • Gallery
    • Lifestyle
    • Special Report
    • Sports
    • TV/Radio
    • Aviation
    • Health
    • Science
    • World News

    © 2025 TimeAfrica Magazine - All Right Reserved. TimeAfrica Magazine Ltd is published by Times Associates, registered Nigeria. Use of this site constitutes acceptance of our Terms of Service.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.