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African Export-Import Bank (Afreximbank) has extended a $10 million finance facility to Azania Bank of Tanzania to improve access to finance for small and medium-sized enterprises (SMEs) across the country’s export value chains and to strengthen their role in regional and international trade.
The facility, delivered under Afreximbank’s Export SME Development Programme, will let Azania Bank offer eligible SMEs both working capital and medium-term financing.
Businesses can use this to expand, acquire assets, and cover pre- and post-export costs. The goal is to boost productivity and help SMEs take part in regional and global value chains, while closing financing gaps that hold back export growth.
“This facility will strengthen our ability to provide Tanzanian SMEs with the financing they need to grow their businesses, invest in productive capacity, and pursue export opportunities. Our partnership with Afreximbank will also enable us to offer support that responds more closely to the needs of businesses operating across Tanzania’s key value chains,” said Yahaya Mbanka, Director, Business Development at Azania Bank.
Azania Bank is a Tanzanian financial institution that will on-lend the facility to eligible SMEs working in export-oriented sectors, including agriculture, manufacturing, trade, technology, logistics, and value-added exports. The bank helps Tanzania’s industrialisation and trade by providing loans to small and growing businesses.
Afreximbank will provide participating small and medium-sized enterprises (SMEs) with business development support in addition to financing.
This support includes training to prepare for export, advice on financial management, opportunities to connect with markets, help with digital tools, and access to knowledge and networking platforms designed for SMEs. These efforts aim to strengthen businesses, enhance their competitiveness, and help them grow sustainably.
This program supports Afreximbank’s mission to promote trade, industrialisation, and export growth across Africa. It also aligns with Tanzania’s goals of boosting local production, adding value, diversifying exports, and integrating trade within the region.
“SMEs are the backbone of Africa’s productive economy and are critical to driving industrialisation, value addition, and trade-led growth. However, many businesses continue to face significant barriers to accessing the financing, market opportunities, and technical support needed to scale and compete effectively. Through the Export SME Development Programme, Afreximbank is partnering with financial institutions such as Azania Bank to provide not only financing, but also the capacity building and market access solutions required for SMEs to grow, export, and integrate into regional and global value chains,” said Oluranti Doherty, Managing Director, Export Development at Afreximbank.
