TanzaniaInvest had the pleasure of interviewing Ineke Bussemaker, MD and CEO of the National Microfinance Bank (NMB), Tanzania.
NMB is one of the biggest commercial banks in Tanzania, 32% of which is owned by the government.
Bussemaker talks about the current lack of liquidity in the banking sector, the country’s investment potential and economic outlook.
TanzaniaInvest (TI): Tanzania is among the top African destinations for FDI. What is your view on the country’s potential and framework for investments?
Ineke Bussemaker (IB): Tanzania, as well as Kenya and Cote d’Ivoire, are the top African countries that investors are very interested in.
The investment appetite for Tanzania is largely driven by its size with 50m people but the country is still quite underdeveloped so there is high growth potential, especially in agriculture.
However, Tanzania is struggling to transform that potential and ideas into practical projects.
This is due to a range of issues that Tanzania has to solve.
One is political decision-making: it is taking investors a very long time between their first visit to Tanzania and the time when they reach an agreement with any government entity.
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