Among the key functions of NEEC are to coordinate the implementation of empowerment activities across sectors and players, mobilize resources for the citizens’ credit guarantee fund and administer its usage, facilitate entrepreneurship training programs for various groups of citizens and collaborate and network with organizations and institutions which promote economic empowerment and entrepreneurship.

In an effort to promote entrepreneurship, create employment and increase opportunities for Tanzanians to participate fully in economic activities, NEEC entered into a guarantee framework agreement with TIB Development Bank Limited, to create a Fund which will enable extension of concessionary loans and provision of credit guarantee to borrowers in Tanzania Mainland. The Scheme is geared towards promoting and supporting the Young Graduate Entrepreneurs, Small Medium Enterprises (SMEs) and Cooperatives which have a significant role in the economy, by creating enabling environment for expanding and facilitating access to financing requirements.

Generally, the Scheme shall target issuance of guarantees in respect to credit facilities granted by TIB for manufacturing, agriculture, trading and service provision projects that are geared to promote the growth of the economy. Therefore, the following specific criteria shall be  eligible for Small and Medium Enterprises and Cooperatives;-


Key issue


Maximum Credit

Not exceeding TZS 200 million.

Eligibility Requirements

  1. Must be a Tanzanian organization/firm/institution/company.
  2. Must be legally registered with the appropriate and recognized authorities.
  3. Already involved in farming/trading/processing/Stocking/fishing/value addition/transportation activities.
  4. Ready to offer any enforceable collateral including their personal guarantee, with the condition of allowing assignment of such collaterals to the Scheme acceptable by TIB.
  5. Having applied for a credit facility from TIB relating to eligible projects.



Guarantee coverage for loans will not exceed 36 months


Any enforceable collateral considered appropriate under the lending policy of the TIB, including, but without limitation to, assets financed also by the guaranteed credit facility.

Guarantee Fees

The guarantee fees shall be 4% of the total outstanding credit issued.

Interest Rate on Loan

Interest rate to be charged by TIB will be 16% reducing balance per annum.

Mode of operation

Provision of loans for SMEs and cooperatives will commence from February/ March 2015. Eligible applicants are advised to send their applications directly to TIB Development Bank Limited head office


For more information contact the following:

National Economic Empowerment Council (NEEC)                TIB Development Bank Limited

12 Kivukoni Front,                                                                  Building Office No. 3,

P.O. Box 1734,                                                                        Mlimani City Office Park,

Dar es Salaam                                                                        Sam Nujoma Road, Ubungo

TANZANIA                                                                                P. O. Box 9373          

+255 (22) 2125596                                                                 Dar es Salaam                                                           TANZANIA                                                             +255 (22) 2411101-2                                                            

+255 (22) 2411108-9