Dar es Salaam. NMB Bank Plc has committed approximately Sh224 billion ($100 million) to a landmark $500 million syndicated financing facility for AngloGold Ashanti’s Geita Gold Mine, strengthening its support for Tanzania’s mining sector and the country’s long-term economic development agenda.
The financing, announced on Tuesday July 21, 2026, was arranged by Nedbank Corporate and Investment Banking.
It makes NMB the largest Tanzanian bank participating in the transaction.
The bank said the investment advances its Medium-Term Plan 2026–2030 (Agenda 2030) while supporting the objectives of Tanzania Development Vision 2050, which seeks to accelerate industrialisation, export growth and private sector-led economic development.
The financing will support AngloGold Ashanti’s continued investment in Geita Gold Mine, one of Tanzania’s largest mining operations and among Africa’s leading gold producers.
According to NMB, the investment will help sustain gold production, exports, local procurement, employment and long-term economic value.
It is also expected to strengthen foreign exchange earnings, develop local value chains and improve Tanzania’s industrial competitiveness.
NMB Managing Director and Chief Executive Officer, Ruth Zaipuna, said the transaction reflects the bank’s strategy of directing capital towards sectors with the greatest potential to transform the national economy.
“This transaction demonstrates NMB’s ability to participate in sophisticated, large-scale financing alongside leading regional and international financial institutions while ensuring Tanzanian capital plays a meaningful role in financing nationally strategic investments. It is Agenda 2030 in action, deploying our balance sheet, expertise and partnerships to accelerate sustainable economic growth and long-term national prosperity,” she said.
Zaipuna said the financing also supports the aspirations of Tanzania Development Vision 2050.
“Tanzania Development Vision 2050 sets out an ambitious pathway towards a more competitive, inclusive and industrialised economy. Financing investments of this scale enables us to strengthen a sector that drives exports, foreign exchange earnings, local enterprise development, employment and sustainable economic transformation,” she added.
NMB said its participation reinforces its position as a long-term financial partner to Tanzania’s mining industry.
The bank has cumulatively financed the sector with approximately Sh400 billion, supporting responsible mining, local supplier development and investment across the mining value chain.
The Geita financing also highlights the increasing ability of African financial institutions to collaborate on complex transactions that mobilise long-term capital for strategic investments across the continent.
NMB commended Nedbank Corporate and Investment Banking for arranging and underwriting the syndicated facility, saying the partnership demonstrates the strength of regional financial cooperation in advancing Africa’s sustainable economic development.
Mining remains one of Tanzania’s leading economic sectors.
Gold is the country’s largest export, contributing significantly to foreign exchange earnings and government revenue.
According to the Bank of Tanzania, gold exports rose sharply in the year ending May 2026, reflecting strong international prices and increased production, underlining the sector’s importance to the country’s economic growth.
If you would like, I can also expand this into a more comprehensive newspaper article by adding independent background and context from recent Bank of Tanzania and Ministry of Minerals data.
