In order to support the Tanzanian financial sector, the Board of Directors of the African Development Bank Group (AfDB) has approved the granting of the Trade Finance Transaction Guarantee Facility to Bank of Africa Tanzania Limited (BOAT).

The facility granted by the AfDB will provide support to small and medium-sized enterprises (SMEs) and local businesses. It will serve to facilitate the access of SMEs to import and export trade finance. It will also be a question of supporting intra-African trade. This instrument will contribute directly to the successful implementation of the African Continental Free Trade Area (AfCFTA) program. The mechanism will facilitate the import of essential inputs such as fertilizers, pharmaceuticals, pharmaceuticals, solar panels, agricultural machinery, and other intermediate goods that Tanzania needs to relaunch its agricultural sector and manufacturing industry