KCB Bank Tanzania has embraced financing opportunities for small and medium enterprises (SMEs) in Tanzania in partnership with the European Investment Bank (EIB), the European Union (EU), and the government of the United Republic of Tanzania.

This initiative aims to provide Tanzanian SMEs, particularly women in business and the blue economy sectors, with access to finance. Abdul Juma, KCB Bank head of retail represented the bank in this partnership, securing a EUR 20 million credit line as part of the EUR 350million Tanzania Gender & Blue Economy Facility.

Speaking yesterday to during the meeting of EIB credit lines to Tanzania banks for on-lending to SMEs with focus on gender and blue economy Juma highlighted the importance of empowerment, sustainability, and the transformative impact of the blue economy on Tanzania's future. 

He announced that the EUR20million allocation would fund projects like women-led fishing cooperatives and environmentally friendly aquaculture ventures along Tanzania's coastline, aiming to boost economic growth while preserving marine resources.

The event concluded with Juma addressing questions about the fund's disbursement and impact, emphasizing KCB-Tanzania's commitment to transparency and accountability.

KCB-Tanzania's announcement received widespread praise, symbolizing hope for a brighter, more inclusive future. Juma concluded by emphasizing that this partnership is not just a financial transaction but a promise to empower women, protect the environment, and drive sustainable economic growth in Tanzania's blue economy.