MINISTER, ANGELLAH KAIRUKI OVERSEES TZS 40 BILLION NBC–BII FINANCING DEAL TO SUPPORT TANZANIA’S SMALL BUSINESSES

Tanzania’s Minister for Information, Communication and Information Technology, Angellah Kairuki (centre), poses for a group photo with Theobald Sabi (left), Managing Director of NBC Bank, and Chris Chijiutomi (right), Managing Director and Head of Africa at British International Investment (BII), shortly after the signing of a USD 15 million (approximately TZS 40 billion) strategic financing partnership between the two institutions aimed at supporting micro, small and medium-sized enterprises (MSMEs) in Tanzania. The signing ceremony took place over the weekend in Kigali on the sidelines of the Africa CEO Forum 2026.

Tanzania’s Minister for Information, Communication and Information Technology, Angellah Kairuki (centre), poses for a group photo with Theobald Sabi (third left), Managing Director of NBC Bank, and Chris Chijiutomi (fourth right), Managing Director and Head of Africa at British International Investment (BII), alongside other senior officials from both institutions following the signing of a USD 15 million (approximately TZS 40 billion) strategic financing partnership aimed at supporting micro, small and medium-sized enterprises (MSMEs) in Tanzania.

Theobald Sabi (left), Managing Director of NBC Bank, and Chris Chijiutomi (right), Managing Director and Head of Africa at British International Investment, congratulate each other after signing a USD 15 million (approximately TZS 40 billion) strategic financing partnership between the two institutions.

KIGALI, RWANDA – May 17, 2026: Tanzania’s Minister for Information, Communication and Information Technology, Angellah Kairuki, has overseen the signing of a financing partnership worth more than TZS 40 billion between National Bank of Commerce (NBC) and British International Investment (BII) aimed at expanding access to financial services for micro, small and medium-sized enterprises (MSMEs) across Tanzania.

The agreement, announced on the sidelines of the Africa CEO Forum 2026 held in Kigali over the weekend, will provide long-term financing over a five-year period to support business expansion, strengthen economic resilience and improve the competitiveness of Tanzanian businesses across key productive sectors.

Minister Kairuki attended the signing ceremony on behalf of the Government of Tanzania, which holds a 30 percent stake in NBC Bank. The event was also attended by senior NBC executives led by the bank’s Managing Director, Theobald Sabi, alongside Managing Director and Head of Africa at BII, Chris Chijiutomi.

Through the partnership, MSMEs will gain access to working capital, domestic and international trade finance services, and innovative financial solutions designed to help businesses scale and compete more effectively in regional markets.

The financing is also expected to increase the participation of women and youth in economic activities by supporting business formalization, digital technology adoption and regional trade under the African Continental Free Trade Area (AfCFTA).

Speaking during the event, Minister Kairuki said the Government will continue creating an enabling environment for the private sector in order to promote investment, innovation and the competitiveness of Tanzanian businesses in regional and international markets.

“This partnership between NBC and BII will play a significant role in expanding access to capital for small and medium-sized enterprises, strengthening entrepreneurship and increasing the participation of Tanzanian businesses in both regional and global economies,” said Minister Kairuki.

Also speaking at the event, Sabi said the partnership reflects growing confidence among international investors in Tanzania’s private sector and highlights the critical role financial institutions continue to play in driving inclusive economic growth.

“Small and medium-sized enterprises remain the backbone of Tanzania’s economy due to their major contribution to employment, production and entrepreneurial development. This partnership goes beyond financial support; it is a long-term investment aimed at enabling Tanzanian businesses to access capital and tailored financial solutions that will help them expand and compete within the regional market,” said Sabi.

He added that NBC will continue supporting the country’s national development agenda through initiatives aimed at strengthening financial inclusion and unlocking broader economic opportunities for entrepreneurs across Tanzania.

On his part, Chijiutomi said the partnership demonstrates BII’s commitment to supporting businesses that continue to face challenges in accessing financial services, noting that the initiative is expected to contribute to economic growth, innovation and job creation in Tanzania.

According to industry statistics, MSMEs account for more than 90 percent of all businesses in Tanzania and contribute between 27 and 35 percent of the country’s Gross Domestic Product (GDP), while employing millions of Tanzanians.

The Africa CEO Forum 2026 brought together policymakers, investors, development finance institutions and business leaders from across Africa to discuss the continent’s economic transformation, investment opportunities and private sector growth.