Swedfund invests USD 35 million in Tanzania’s NMB Bank
Introduction
Swedfund, Sweden’s development finance institution, provides a USD 35 million loan to NMB Bank Plc, a Tanzanian bank serving retail customers, SMEs, and corporates. The investment will help more small and medium-sized businesses access loans, support job creation, and strengthen NMB’s work on sustainability and gender equality.
Small businesses in Tanzania often struggle to access financing, which limits their ability to grow and create employment. With over 8.6 million customers and a strong presence across the country, NMB plays a key role in providing financial services, especially in agriculture and among underserved communities.
“By investing in NMB, we expand its capacity to support Tanzanian entrepreneurs with the financing they need. This not only contributes to a stable financial system but also fuels inclusive growth and decent job creation across the country,” says Esther Wachira, Senior Investment Manager at Swedfund.
Swedfund will also work with NMB to strengthen the bank’s capacity to manage environmental and social risks, address climate challenges, and further advance its gender equality efforts.
The financing is expected to reach hundreds of small businesses, particularly in agriculture and among women-led enterprises, contributing to inclusive growth, employment, and sustainable economic development in Tanzania.
The investment is made together with JICA, Japan International Cooperation Agency.