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Afreximbank pledges $1bn to accelerate Tanzania’s development
What you need to know:
- The funding is set to prioritise key sectors including infrastructure, local manufacturing, ports, energy, small and medium-sized enterprises (SMEs), and regional integration
Dar es Salaam. The African Export-Import Bank (Afreximbank) has pledged to invest at least $1 billion in Tanzania over the next 12 months in both the public and private sectors.
The funding is set to prioritise key sectors including infrastructure, local manufacturing, ports, energy, small and medium-sized enterprises (SMEs), and regional integration.
Speaking during the Afreximbank Tanzania Roadshow 2025 held in Dar es Salaam this week, the Bank’s acting group managing director of Client Relations, Mr Eric Monchu Intong, said the commitment reflects Afreximbank’s alignment with Tanzania’s strategic development agenda.
The two-day event, held in collaboration with the Bank of Tanzania under the theme Innovative Financing Solutions for Tanzania’s Sustainable Growth, showcased financial instruments designed to support the country’s third Five-Year Development Plan and Vision 2025.
These include the Pan-African Payment and Settlement System (PAPSS), the Fund for Export Development in Africa (FEDA), AfrexInsure, and Creative Africa Nexus.
Mr Intong noted that since expanding its footprint in Tanzania, Afreximbank has already disbursed close to $2 billion towards major national projects.
These include $800 million in guarantees for the Julius Nyerere Hydropower Project, $290 million for the Standard Gauge Railway (SGR), and $200 million for the East African Crude Oil Pipeline (EACOP).
Additional financing has also been extended to local banks and private sector actors.
The roadshow convened entrepreneurs, financiers, policymakers and development partners to advance inclusive finance and sustainable economic growth through regional cooperation.
“Our continent’s path to prosperity lies in integration, innovation, and trust,” said Mr Intong, adding that Afreximbank continues to deepen its presence in East Africa through its regional office in Kampala and, more recently, through the inclusion of Somalia among its 53 African member states and 12 Caribbean partners.
“We are here to provide African solutions to African problems,” he said.
The roadshow was also a rallying call to co-create solutions aimed at driving Tanzania’s industrialisation, trade expansion, and economic inclusion.
Key institutional partners included the Bank of Tanzania, TANTRADE, and the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA).
Deputy Permanent Secretary in the Ministry of Industry and Trade, Dr Suleiman Serera, lauded the partnership with Afreximbank.
“Africa has never lacked ideas or ambition. What we often lack is patient capital and belief in our own potential. Afreximbank is helping change that,” said Dr Serera.
He emphasised the importance of unity expressed through trade, innovation, and partnerships, describing Afreximbank as a strategic ally in Tanzania’s development journey.
Dr Serera also called on Tanzanian SMEs, industrialists, and youth-led enterprises to work closely with the bank to access funding opportunities in agro-processing, export development, green industrialisation, and regional trade.
“Let us invest in Dodoma, Mbeya, and Kigoma,” he urged. “Let us develop Export Processing Zones, strengthen logistics corridors, and build digital infrastructure for a thriving trade ecosystem.”
He added that these investments go beyond financial backing—they symbolise a long-term commitment to Tanzania’s economic sovereignty, connectivity, and resilience.
