BANK OF AFRICA TANZANIA, CFAO MOBILITY PARTNER TO BOOST BUSINESS GROWTH THROUGH VEHICLE FINANCING

Group photo featuring representatives from CFAO Mobility Tanzania and Bank of Africa Tanzania. From left to right: Mr. Asupya Nalingigwa, Head of Retail Banking, Bank of Africa Tanzania; Mr. Khalifa Zidadu, Head of Corporate Banking, Bank of Africa Tanzania; Mr. Ali Timimi, CEO, CFAO Mobility Tanzania; Ms. Tharaia Ahmed, Sales and Marketing Director, CFAO Mobility Tanzania; and Mr. Fabrice De Creisquer, CEO, CFAO Mobility East & Southern Region.

DAR ES SALAAM, TANZANIA; September 7, 2026 — Bank of Africa Tanzania and CFAO Mobility Tanzania Limited have entered into a new vehicle financing partnership aimed at helping entrepreneurs, professionals, SMEs and businesses expand their operations by improving access to vehicles as productive assets.

The collaboration will enable eligible customers to acquire new and eligible pre-owned vehicles from CFAO Mobility Tanzania while spreading the cost through structured financing. This will allow customers to preserve their cash flow while putting the acquired vehicles to productive use.

The initiative is expected to support business expansion, personal mobility, transportation, logistics, trade and tourism by making it easier for customers to access globally recognised vehicle brands distributed by CFAO Mobility Tanzania, including Mercedes-Benz, Suzuki and Fuso.

According to the two companies, the value of the partnership will ultimately be reflected in what customers are able to achieve with the vehicles they acquire, particularly through increased business capacity, improved distribution and logistics, and expansion of vehicle fleets.

CFAO: MOBILITY AS A DRIVER OF ECONOMIC OPPORTUNITIES

Speaking on the partnership, CFAO Mobility Tanzania Chief Executive Officer (CEO), Mr Ali Timimi, said the initiative would make mobility more accessible by connecting customers with the right vehicle and a practical financing solution.

“At CFAO Mobility Tanzania, we believe mobility is an important driver of economic opportunities. For many of our customers, a vehicle is not simply a means of transport; it is an asset that helps them run a business, serve their customers, grow their operations and create value. Our partnership with Bank of Africa Tanzania is about making that opportunity more accessible,” he said.

Mr Timimi added that the collaboration would create a more connected customer journey, from selecting the appropriate vehicle to accessing the financing required to put it to work.

“By bringing together BOA Tanzania’s financing capabilities with CFAO’s automotive expertise and range of trusted brands, we are creating a more connected customer journey; from choosing the right vehicle to accessing the right financing needed to put it to work,” he said.

He said the process had been designed to be straightforward, practical and responsive to the needs of mutual customers, adding that the impact of the partnership would ultimately be measured by the economic opportunities created through vehicle ownership.

“Whether it is an entrepreneur expanding a business, a professional improving their mobility or a company growing its fleet, we are pleased to work with BOA Tanzania to help more customers move forward,” he said.

BOA TANZANIA: HELPING CUSTOMERS PRESERVE CASH FLOW

Speaking at the launch event, Bank of Africa Tanzania Head of Corporate Banking, Mr Khalifa Zidadu, said the partnership would help address the financing gap faced by customers seeking to acquire vehicles while maintaining sufficient cash flow for their businesses and households.

“Access to reliable and productive assets remains an important financing need for individuals and businesses in Tanzania. Vehicles are particularly important because they are not only a means of transport; for many entrepreneurs and businesses, they are income-generating and productivity-enhancing assets,” Mr Zidadu said.

He noted that affordability and access to financing remained major considerations for customers seeking to acquire vehicles.

“The challenge for many customers is not necessarily the need for a vehicle, but the ability to meet the upfront cost while preserving cash flow for their businesses and households,” he said.

According to Mr Zidadu, the partnership addresses this challenge by combining CFAO’s trusted vehicle brands and automotive expertise with Bank of Africa Tanzania’s financing capabilities.

“This partnership addresses that gap by combining CFAO’s trusted vehicle brands and automotive expertise with Bank of Africa Tanzania’s financing capability, giving customers a structured pathway to acquire the vehicle they need without placing unnecessary pressure on their liquidity,” he said.

He further said the bank’s ambition was to go beyond financing vehicle purchases and support the economic activities enabled by the assets.

“Whether that is a transport operator expanding a fleet, an SME increasing distribution capacity, a tourism business improving its services, or an individual acquiring an asset for personal and professional use, we want to support the economic activity that the vehicle enables,” he said.

VEHICLE FINANCING TO SUPPORT SMEs AND BUSINESSES

The partnership comes at a time when access to appropriate financing remains an important priority for Tanzania’s SME sector.

The Bank of Tanzania has highlighted initiatives aimed at improving access to credit for SMEs, particularly businesses with viable projects but limited access to traditional forms of collateral.

Commenting on the customer proposition, Bank of Africa Tanzania Head of Retail Banking, Mr Asupya Nalingigwa, said the partnership had been designed to simplify and shorten the process of acquiring vehicles through financing.

“For us, the customer journey is at the heart of this partnership. A customer should be able to identify the vehicle they want, receive the necessary guidance, access financing and complete the purchase through a coordinated process between CFAO and BOA Tanzania,” Mr Nalingigwa said.

He said the objective was to make the process seamless and efficient so that eligible customers could obtain asset financing on time and put their vehicles to use without unnecessary delays.

“Our vehicle asset finance solution offers eligible customers financing depending on ability to pay, with a repayment period of up to 48 months, for the purchase of new and eligible pre-owned vehicles from CFAO,” he said.

According to Mr Nalingigwa, the facility comes with competitive interest rates, a minimum customer contribution, comprehensive motor insurance and life cover.

“More importantly, we have worked closely with CFAO to create a seamless customer journey, ensuring that customers can move efficiently from selecting their preferred vehicle to financing and acquisition, enabling them to obtain their asset on time and put it to productive use,” he said.

SUPPORTING FARMERS, ENTREPRENEURS AND TRANSPORT BUSINESSES

CFAO Mobility Tanzania Director of Marketing and Sales, Ms Tharaia Ahmed, said the partnership would open up economic opportunities for businesspeople, farmers and entrepreneurs involved in the transportation of goods and delivery of services.

“Our vehicles are of high quality and environmentally friendly. This presents a unique opportunity for farmers transporting produce from farms to markets, as well as businesses transporting various goods outside the country,” Ms Ahmed said.

The partnership therefore brings together vehicle supply and financing under a coordinated customer journey, with the potential to support businesses that depend on reliable transport and logistics to grow.

For entrepreneurs and SMEs, access to suitable vehicles can increase distribution capacity, improve operational efficiency and enable businesses to reach new markets. For transport and tourism operators, vehicle financing can also provide an opportunity to expand fleets and improve service delivery.

The collaboration between Bank of Africa Tanzania and CFAO Mobility Tanzania is consequently positioned to support not only vehicle ownership, but also the wider economic activities that vehicles enable across different sectors of the Tanzanian economy.

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