The African Development Bank Group’s Tanzania Office and the Islamic Trade Finance Corporation (ITFC) have reaffirmed their commitment to advancing private sector development as a driver of sustainable economic growth and competitiveness in Tanzania. During a meeting held on 29 September 2025, ITFC’s delegation, led by Senior Manager and Regional Head for East Africa and Latin America, Said Ibouroi, met with AfDB Country Manager Patricia Laverley to explore opportunities for strategic collaboration and investment.
ITFC presented its strategic priorities built around three key pillars: enhancing access to finance for small and medium-sized enterprises (SMEs), strengthening food security through agricultural investments, and ensuring sustainable energy security. These areas of focus align closely with Tanzania’s national development agenda and the African Development Bank’s Tanzania Country Strategy Paper (2021–2025), which emphasizes improving the private sector environment to stimulate job creation and inclusive growth.
Discussions also centered on aligning both institutions’ efforts with the “Four Cardinal Points” of AfDB President Dr. Sidi Ould Tah. These include “Unlocking Africa’s Capital Power” through capital mobilization and blended finance, and “Rebuilding Africa’s Financial Sovereignty” by fostering innovative financing partnerships that enhance the continent’s financial independence.
Highlighting Tanzania’s economic prospects, Ibouroi noted that the country is steadily expanding its international trade and holds significant untapped potential, particularly in agriculture, petroleum, and gas. He emphasized ITFC’s commitment to empowering SMEs and the private sector by unlocking value chains that foster economic resilience and regional integration.
Laverley described the meeting as a significant milestone toward deeper cooperation between AfDB and ITFC. She emphasized that this partnership, rooted in a shared vision of positioning Tanzania as a regional hub for investment and private sector growth, demonstrates strong potential for impactful collaboration that will accelerate sustainable development in the country.
