NMB Bank Plc has invested approximately Sh224 billion (US$100 million) in a US$500 million syndicated financing facility for AngloGold Ashanti’s Geita Gold Mine, reinforcing its commitment to Tanzania’s mining sector and the nation’s economic development.

This move makes NMB the largest Tanzanian bank participating in the transaction, aligning with its Medium-Term Plan 2026-2030 (Agenda 2030) and supporting Tanzania Development Vision 2050 goals aimed at accelerating industrialisation, export growth, and private sector-led development.

The financing will bolster AngloGold Ashanti’s continued investment in Geita Gold Mine, one of Tanzania’s largest mining operations and a leading gold producer in Africa. NMB highlights that the investment will sustain gold production, increase exports, boost local procurement and employment, and generate long-term economic value for Tanzania.

Additionally, the financing is expected to strengthen foreign exchange earnings, develop local value chains, and enhance the country’s industrial competitiveness.

Ruth Zaipuna, NMB Managing Director and Chief Executive Officer, said, “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.”

Zaipuna added, “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.”

NMB’s participation reinforces its position as a long-term financial partner to Tanzania’s mining industry, having cumulatively financed the sector with approximately Sh400 billion. The bank supports responsible mining, local supplier development, and investment across the mining value chain.

The Geita financing also underscores the growing capability of African financial institutions to collaborate on complex transactions that mobilise long-term capital for strategic investments across the continent. NMB praised Nedbank Corporate and Investment Banking for arranging and underwriting the syndicated facility, highlighting the strength of regional financial cooperation in advancing Africa’s sustainable economic development.

Mining remains a cornerstone of Tanzania’s economy. Gold is the country’s largest export, significantly contributing to foreign exchange earnings and government revenue. Recent data from the Bank of Tanzania shows a sharp rise in gold exports as of May 2026, driven by strong international prices and increased production, underscoring mining’s vital role in Tanzania’s economic growth.

This landmark financing strengthens NMB Bank’s commitment to supporting sectors with transformative potential for Tanzania’s economy while advancing the country’s broader development ambitions.

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