Tanzania's National Bank of Commerce (NBC) has re-launched its trade finance services for its customers in northern Tanzania.

The services will make letters of credit (L/Cs) and bank guarantees more available to customers in the Arusha and Kilimanjaro regions.

Product range

According to NBC, the services are geared towards international trading and provide several import and export financing solutions.

As well as L/Cs and bank guarantees, services will include documentary collections, post-import finance, pre-export financing and post-export financing.

IFC support

South Africa based Absa Group acquired a majority 55 per cent stake in the formerly state-owned NBC in 2000.

The Tanzanian government holds a 30 per cent stake in the bank while the International Finance Corporation owns the remaining 15 per cent of shares.

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