Absa Bank Tanzania has officially launched its Commercial Asset Finance (CAF) solution, a tailored financial offering designed to help businesses acquire critical assets without significant upfront costs. The launch event, held at JNICC in Dar es Salaam, was graced by Hon. Dr. Selemani Saidi Jafo (MP), Minister of Industry and Trade, as the Guest of Honor.

CAF is a short to medium-term financing facility that enables businesses to purchase movable assets such as vehicles, machinery, and equipment while using the asset itself as collateral. The facility allows businesses to finance up to 80% of the invoice value for European brand-new assets and up to 70% for Chinese brand-new assets, significantly easing financial burdens on enterprises looking to scale up operations.

 Speaking at the event, Absa Bank Tanzania’s Managing Director, Mr. Obedi Laiser, highlighted the importance of the CAF solution in addressing the capital constraints that hinder business growth. “Many businesses in Tanzania struggle to acquire essential assets due to financial limitations. With the introduction of CAF, we are offering a solution that enables businesses to grow efficiently, improve operational productivity, and contribute more to the economy without overstretching their working capital. At Absa, we believe in empowering businesses with the right financial tools, and CAF is a testament to that commitment.” 

The Honorable Dr. Selemani Saidi Jafo (MP) commended Absa Bank Tanzania for its commitment to supporting economic growth through financial innovation. “The government recognizes the critical role that financial institutions play in facilitating business expansion. This initiative by Absa Bank Tanzania aligns well with our efforts to create a conducive business environment by improving access to financing, streamlining regulatory processes, and investing in infrastructure development. We encourage more financial institutions to follow Absa’s lead in offering solutions that enable businesses to flourish.” 

Absa Bank Tanzania aims to position CAF as the preferred asset financing solution by offering flexible repayment terms, tax efficiency benefits, balance sheet optimization, and access to in-house Bancassurance services for risk coverage. The bank is committed to supporting businesses through seamless financing and advisory services, ensuring they can acquire the assets needed for growth without financial strain. 

The launch of CAF also underscores Absa’s broader purpose of “Empowering Africa’s tomorrow, together, one story at a time”. By fostering financial inclusion and providing businesses with innovative financing solutions, Absa continues to reinforce its position as a trusted banking partner in Tanzania’s evolving economic landscape. 

For more information about Commercial Asset Finance (CAF) and how businesses can benefit from the facility, customers are encouraged to visit their nearest Absa branch or contact the bank through its official channels.

 For more information, please contact: 

 Aron Luhanga

Head, Marketing & Corporate Relations 

Absa Bank Tanzania Limited

+255 768 221 717

aron.luhanga@absa.africa 

About Absa Bank Tanzania 

Absa Bank Tanzania Limited is one of Tanzania’s leading financial institutions offering an integrated set of products and services across Corporate and Investment Banking, Business Banking with solutions for SMEs, and Retail Banking. Backed by its 21-year legacy in Tanzania and inspired by the people it serves, Absa is committed to finding local solutions to uniquely local challenges and everything we do is focused on bringing possibility to life. 

Absa Bank Tanzania is part of Absa Group Limited, one of Africa’s largest diversified financial services groups. Absa Group employees approximately 40, 000 professionals operating in South Africa, Zambia, Botswana, Mozambique, Seychelles, Mauritius, Kenya, Tanzania, Uganda, Ghana. The Group has representative offices in Nigeria, Namibia, London and New York, as well as insurance operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia. Absa is a truly African brand, inspired by the people we serve and determined to be the financial services Group Africa can be proud of.  

For more about Absa Bank Tanzania, its products and services, visit www.absa.co.tz