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| Exim Bank Tanzania CEO, Jaffari Matundu (centre), highlights the USD 10 million Trade Finance Guarantee Facility approved by the African Development Bank to boost SME and corporate trade growth. |
Dar es Salaam, October 23, 2025 – In a major boost to Tanzania’s trade and economic growth, Exim Bank Tanzania has received approval for a USD 10 million Trade Finance Transaction Guarantee Facility from the African Development Bank (AfDB).
The facility aims to strengthen Exim Bank’s capacity to support Small and Medium-sized Enterprises (SMEs) and corporates by enhancing access to trade finance solutions and promoting cross-border trade.
Under this arrangement, the AfDB will provide up to 100% guarantees to confirming banks against non-payment risks associated with Letters of Credit and other trade instruments issued by Exim Bank Tanzania. This will increase the availability of import and export financing for Tanzanian businesses, enabling them to compete more effectively in regional and global markets.
Strengthening Tanzania’s Trade Ecosystem
This partnership positions Exim Bank Tanzania as a key enabler of inclusive trade growth by giving businesses the confidence to expand into new markets. By addressing the long-standing trade finance gap faced by SMEs and corporates, it will accelerate industrialization, create jobs, and reinforce Tanzania’s position in regional trade.
“This partnership reflects the African Development Bank’s trust in Exim Bank Tanzania’s strength, integrity, and commitment to advancing trade finance in the country,” said Mr. Jaffari Matundu, Chief Executive Officer of Exim Bank Tanzania.
He added:
“Through this facility, we are empowering Tanzanian businesses—especially SMEs—to access the capital and confidence they need to engage in cross-border trade. It will not only ease import and export transactions but also open doors to global partnerships, drive innovation, and support sustainable economic growth.”
Matundu also noted that the initiative aligns with the African Continental Free Trade Area (AfCFTA) and Agenda 2063, both of which aim to boost intra-African trade and regional integration.
A Shared Vision for Africa’s Growth
Mr. Lamin Drammeh, Head of Trade Finance at the African Development Bank, reaffirmed the Bank’s commitment to supporting Africa’s trade agenda:
“Trade finance is essential for Africa's economic development—facilitating domestic and international trade, boosting growth, and promoting regional integration. We are delighted to partner with Exim Bank Tanzania, a trusted institution with a strong footprint in Tanzania’s trade landscape, to strengthen the region’s trade ecosystem.”
Driving SME Competitiveness
The facility is expected to enhance business competitiveness, especially among SMEs that form the backbone of Tanzania’s economy. By ensuring access to timely and affordable trade finance, Exim Bank Tanzania continues to demonstrate its leadership in fostering business resilience, financial inclusion, and sustainable development.
About Exim Bank Tanzania
Founded in 1997, Exim Bank Tanzania is one of the country’s leading financial institutions, known for innovation, customer-centric solutions, and strong contribution to national economic growth. With a regional presence in Comoros, Djibouti, Uganda, and Ethiopia, it is one of the few indigenous Tanzanian banks to expand beyond its borders.
Through its extensive branch network and digital banking platforms, Exim Bank continues to empower individuals and businesses with reliable, flexible, and forward-thinking financial solutions.
About the African Development Bank Group
The African Development Bank Group is Africa’s premier development finance institution, promoting economic growth and social progress across the continent. Its operations aim to reduce poverty and improve living standards through sustainable investments in infrastructure, trade, and regional integration.
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