Exim Bank
  • comoros
  • djibouti
  • uganda

Linda Broekhuizen (CIO - FMO) and Jaffari Matundu (Deputy CEO - Exim)

Exim Bank Tanzania Limited Closes TZS 75 Billion (USD 35 mn) Loan from FMO to Boost Lending to SMEs in Tanzania

TZS 75 Billion Loan from FMO to Boost Lending to SMEs

Exim Bank Tanzania Ltd, an indigenous Tanzanian Bank ranking 5th in the country in terms of total assets, has announced a financial closure of TZS 75 Billion to finance and support long-term lending to small and medium size enterprises (SMEs) in Tanzania.

The loan is meant to cover the lending gap to SMEs in Tanzania which is estimated at approximately 3 million enterprises, with research indicating a large majority of these are family owned micro enterprises (employing less than 5 people), and located mainly in small cities and rural areas.

Although data on the Micro, Small and Medium Enterprises (MSMEs) is minimal, indication shows that the SME sector wields an important role in the economy. Many SMEs cannot get access to financial services, while a negligible percentage rely on financial services from non-bank financial institutions such as mobile phone money transfer services which is quite expensive.

According to Exim Bank Deputy CEO, Mr. Jaffari Matundu “This is also in line with His Excellency, President of Tanzania, Dr. John Pombe Magufuli’s vision to transform Tanzania into an industrialized economy. SMEs are considered to be engines of growth in any economy and any industrialized economy should have large number of SMEs engaged in incidental and ancillary units to support large corporates / projects in the country. The massive projects in infrastructure sector will require enough local units to support backward linkages and supply services for successful completion of these mega projects. The loan has been accepted as a Senior Unsecured loan of TZS 75 billion from FMO and this is part of the bank’s strategy to support SMEs thereby generating employment and reducing poverty in the country. “

“FMO is extremely pleased to continue and intensify our relationship with Exim Bank through this new loan facility. Supporting local enterprises through trusted partners like Exim Bank is core to FMO’s mission”, Linda Broekhuizen, Chief Investment Officer.

The loan is also a testimony of Exim Bank’s trust and goodwill that the international development financial institutions place upon it. Exim Bank has a relationship with all renowned DFIs viz. IFC, EIB, PROPARCO and further this second loan with FMO has been a new feather in cap (honor). Exim Bank will be immediately drawing TZS 23 Billion and the balance over a period of next 17 months.

EXIM Bank is the first Tanzanian Bank to set foot print abroad and go international with now presence in 3 countries Comoros, Djibouti and Uganda. The Bank has been awarded ‘Best Retail Bank in Tanzania by ‘Banker Africa’ for 2016 awarded in May’17 and Best Employer in HR Governance and Employee Engagement in Tanzania for the year 2016 by Tanzania Association of Employers. The Total Asset and Shareholders Fund as on 31st December 2017 is at TZS 1.6 Trillion and TZS 231 Billion respectively.



Exim Bank (Tanzania) Ltd is one of the local indigenous banks in Tanzania since August 1997. The bank ranks 5th in the country in terms of total assets as on 31st Dec 2016. It is the first bank in Tanzania to have established banking footprint overseas – Union of Comoros (2007), Republic of Djibouti (2011) and Republic of Uganda (2015). The bank has a total of 45 branches (including subsidiaries) at strategic locations across Tanzania and catering to more than 300,000 customers.


FMO is the Dutch development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development, and has a more than 45-year proven track-record of empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With a committed portfolio of EUR 9.2 billion spanning over 90 countries, FMO is one of the larger bilateral private sector developments banks globally.

For more information: please visit www.fmo.nl

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