Dodoma. The Tanzanian government has initiated strategic discussions with the National Bank of Commerce (NBC) to establish a financing framework specifically designed for domestic investors within the oil and gas industry.
During a meeting held on February 19, 2026, the Permanent Secretary in the Ministry of Energy responsible for Oil and Natural Gas, Dr James Mataragio, outlined the state’s ambition to bridge the capital gap that currently hinders local participation in large-scale energy projects.
Dr Mataragio emphasised that while interest among Tanzanian entrepreneurs remains high, the primary obstacle to significant local ownership is a lack of accessible investment capital.
He noted that a robust partnership with financial institutions like NBC is essential for empowering citizens to move beyond minor roles and instead build factories, establish substantial businesses, and drive national employment.
The Ministry’s objective is to ensure the energy sector serves as a more significant pillar of the national economy through increased indigenous investment.
Representing the banking sector, NBC’s Director of Business Banking and Government, Mr Elvis Ndunguru, confirmed the institution’s readiness to align its lending portfolios with the government’s industrialisation goals.
He highlighted the bank’s existing track record in supporting the agricultural and livestock sectors, suggesting that this expertise will now be extended to the more complex requirements of the oil and gas industry.
The collaboration between the Ministry of Energy and NBC marks a formal commitment to creating a more inclusive economic landscape.
By facilitating credit facilities for local players, the government aims to reduce reliance on foreign capital for infrastructure development while simultaneously addressing the national youth unemployment challenge.
This initiative is expected to yield long-term economic stability by ensuring a larger share of energy revenues remains within the Tanzanian financial system.
