Tanzania has formed a strategic partnership with the African Export-Import Bank (Afreximbank) to mobilize over one billion US dollars in investment capital, supporting sectors like manufacturing, infrastructure, and SMEs.

This collaboration, highlighted by a high-level meeting between Tanzanian Finance Minister Khamis Mussa Omar and Afreximbank’s Africa Regional Director Humphrey Nwugo, aims to accelerate Tanzania’s Vision 2050 goals.

The partnership addresses the need for long-term capital, industrialization, and trade expansion, with Afreximbank funding projects like the Julius Nyerere Hydropower and Standard Gauge Railway.The initiative reduces reliance on public debt, diversifies funding sources, and promotes regional integration.Key sectors include manufacturing, mining, and value addition, targeting export diversification and job creation.Afreximbank’s role in providing patient capital for transformative projects underscores its critical role in Tanzania’s economic transformation.