By George Ozalla
The African Export-Import Bank (Afreximbank) has extended a US$10 million finance facility to Azania Bank of Tanzania to improve access to funding for small and medium-sized enterprises (SMEs) operating within the country’s export value chains.
The facility, announced in Dar es Salaam on Thursday, is being provided under Afreximbank’s Export SME Development Programme (ESDP) and is aimed at strengthening the capacity of Tanzanian SMEs to expand their businesses and participate more effectively in regional and international trade.
Under the arrangement, Azania Bank will provide eligible SMEs with working capital and medium-term financing for business expansion, acquisition of productive assets and pre- and post-export activities.
The funds will be made available to export-oriented businesses in sectors including agriculture, manufacturing, trade, technology, logistics and value-added exports.
Afreximbank said the financing was designed to address funding gaps that have continued to constrain the growth of SMEs, while improving productivity and enabling more businesses to connect with regional and global value chains.
The initiative is also expected to support employment creation, improve the export readiness of Tanzanian businesses and expand their participation in regional trade. It will provide SMEs with opportunities to take advantage of the African Continental Free Trade Area (AfCFTA), particularly through increased capacity for cross-border trade and participation in regional supply networks.
Beyond the financing component, Afreximbank will provide participating SMEs with business development support covering export readiness training, financial management advisory services, market linkages and digitalisation. The programme will also provide access to SME-focused knowledge and networking platforms.
Managing Director, Export Development at Afreximbank, Oluranti Doherty, said SMEs were central to Africa’s productive economy and had an important role to play in industrialisation, value addition and trade-led growth.
Doherty said many African businesses continued to face difficulties in obtaining the financing, market opportunities and technical support required to expand and compete effectively.
She said Afreximbank’s partnership with Azania Bank would provide Tanzanian SMEs with financing as well as capacity building and market access support needed to grow, export and integrate into regional and global value chains.
According to her, the partnership would contribute to Tanzania’s export development objectives and create opportunities for local businesses to benefit from the implementation of the AfCFTA.
Director, Business Development, Azania Bank Plc, Yahaya Mbanka, said the facility would strengthen the bank’s ability to provide Tanzanian SMEs with funding to grow their businesses, invest in productive capacity and pursue export opportunities.
Mbanka said the partnership with Afreximbank would also enable Azania Bank to provide support that more closely responds to the needs of businesses operating within Tanzania’s major value chains.
The facility is in line with Afreximbank’s mandate to promote trade, industrialisation and export development in Africa and also supports Tanzania’s focus on domestic production, value addition, export diversification and regional trade integration.
Afreximbank’s 2025 Annual Trade Development Effectiveness Report showed that the bank extended more than US$960 million to over 58,000 SMEs across Africa. The financing supported businesses to obtain capital for expansion, cross-border trade and entry into new markets, with women- and youth-led enterprises among those prioritised.
