African Development Bank and ITFC Align Strategies to Unlock Tanzania's Investment Potential

15 October 2025
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African Development Bank (Abidjan)
announcement

The African Development Bank Group's Tanzania Office and the Islamic Trade Finance Corporation (ITFC) committed to fostering private sector development as a catalyst for sustainable economic growth and long-term competitiveness during a meeting held on 29 September 2025.

The ITFC delegation, led by Senior Manager and Regional Head for East Africa & Latin America Said Ibouroi, met with Country Manager Patricia Laverley, at the Bank Group's Tanzania office premises during a mission to Tanzania for dialogue on strategic collaboration and investment opportunities.

ITFC presented its strategic portfolio, anchored on three key pillars: enhancing SMEs' access to finance, strengthening food security through agriculture investments and sustaining energy security. These priorities align with Tanzania's development agenda, as well as the Bank Group's Tanzania Country Strategy Paper 2021-2025, which prioritises an improved private sector business environment for job creation as one of its pillars.

The two sides also discussed alignment with the "Four Cardinal Points" of Bank President Dr Sidi Ould Tah, including "Unlocking Africa's Capital Power" through capital mobilisation and blended financing, and "Rebuilding Africa's Financial Sovereignty" through innovative financing partnerships that strengthen the continent's financial autonomy.

Ibouroi said, "Tanzania is steadily expanding its international trade while holding untapped potential. Recognizing opportunities in key sectors such as agriculture, petroleum, and gas, ITFC sees the prospect to empower SMEs and the private sector, unlocking value chains that drive economic resilience and regional integration."

"This engagement marks a promising step towards deeper collaboration with ITFC, a member of the Islamic Development Bank Group, and underscores our shared vision of positioning Tanzania as a dynamic hub for investment and private sector advancement," said Laverley.

The two parties agreed on the clear demonstration of a strong potential for impactful cooperation, she concluded.

Read the original article on African Development Bank (AfDB).

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