NMB BANK & SOUTH KOREA'S K-FINCO FORGE STRATEGIC PARTNERSHIP

NMB Bank PLC and Korea Finance for Construction (K-FINCO) have officially signed a strategic partnership agreement to boost infrastructure development in Tanzania!

In the Memorandum of Understanding, NMB Bank shall provide bank guarantees to support K-FINCO members in financing and executing construction projects across Tanzania.

The agreement was signed in Seoul, South Korea today by NMB Bank’s CEO, Ruth Zaipuna, and K-FINCO’s CEO and Chairperson, Dr. Eunjae Lee, with the ceremony attended by Tanzania’s Ambassador to South Korea, H.E Ambassador Togolani Mavura, as well as other dignitaries from NMB Bank, K-FINCO, and the Tanzanian embassy.

This partnership marks a significant step in enhancing Tanzania’s infrastructure, creating job opportunities, and driving socio-economic development. It also strengthens the bilateral ties between Tanzania and South Korea, fostering collaboration and friendship between our nations.

The agreement comes few months after a successful diplomatic mission by the President of the United Republic of Tanzania. H.E Dr. Samia Suluhu Hassan in South Korea back in June 2024.

NMB Bank will leverage its strong heritage in Tanzania, deep local knowledge, world-class expertise, and financial solutions to ensure the success of this partnership.