Bank of Africa Tanzania, CFAO Mobility Partner To Boost Business Growth Through Vehicle Financing

By Zanzibar News On Sep 6, 2026

A new vehicle financing partnership between Bank of Africa Tanzania and CFAO Mobility Tanzania Limited has been inked with an eye to help entrepreneurs, professionals, SMEs and businesses expand their operations by improving access to vehicles as productive assets.

The timely collaboration is designed to enable eligible customers to obtain new and eligible pre-owned vehicles from CFAO Mobility while spreading the cost through structured financing, allowing them to preserve cash flow and put the vehicles to productive use.

The initiative is expected to assist business expansion, personal mobility, transportation, logistics, trade and tourism by making it easier for customers to access vehicles from globally recognized brands distributed by CFAO Mobility Tanzania, including Mercedes-Benz, Suzuki and Fuso.

According to the two companies, the value of the partnership will ultimately be reflected in what customers are able to achieve with the vehicles they acquire, particularly through increased business capacity, improved distribution and logistics and expansion of vehicle fleets.

Mr. Khalifa Zidadu (second from left), Head of Corporate Banking at Bank of Africa Tanzania, and Mr. Ali Timimi (second from right), CEO of CFAO Mobility Tanzania, shake hands following the signing of an MoU to launch a Vehicle Asset Finance Solution, marking the official commencement of their partnership to make vehicle ownership more accessible to customers.

Speaking on the partnership, CFAO Mobility Tanzania Chief Executive Officer (CEO), Mr Ali TIMIMI, said the robust initiative would help make mobility more accessible by connecting customers with both the right vehicle and a practical financing pathway.

“At CFAO Mobility Tanzania, we believe mobility is an important driver of economic opportunities. For many of our customers, a vehicle is not simply a means of transport; it is an asset that helps them run a business, serve their customers, grow their operations and create value. Our partnership with Bank of Africa Tanzania is about making that opportunity more accessible,” he said.

He added that the collaboration would create a more connected customer journey, from selecting the appropriate vehicle to accessing financing needed to put it to work.

“By bringing together BOA Tanzania’s financing capabilities with CFAO’s automotive expertise and range of trusted brands, we are creating a more connected customer journey; from choosing the right vehicle to accessing the right financing needed to put it to work,” he said.

Mr TIMIMI stated that the process had been designed to be straightforward, practical and responsive to the needs of mutual customers.

He added, the impact of the partnership would be measured by the economic opportunities created through vehicle ownership.

“Whether it is an entrepreneur expanding a business, a professional improving their mobility or a company growing its fleet, we are pleased to work with BOA Tanzania to help more customers move forward,” he said.

Speaking at the launch event, Bank of Africa Tanzania Head of Corporate Banking , Mr Khalifa Zidadu said the partnership would help address the financing gap faced by customers seeking to acquire vehicles while maintaining sufficient cash flow for their businesses and households.

From left to right: Mr. Asupya Nalingigwa, Head of Retail Banking Bank of Africa Tanzania (stands) Mr. Khalifa Zidadu, Head of Corporate Banking, Bank of Africa Tanzania; second left (seat) Mr. Ali Timimi, CEO, CFAO Mobility Tanzania (right seat) signs a memorandum of understanding (MOU) of vehicle Asset Finance Solution stands right is Ms. Tharaia Ahmed, Sales and Marketing Director.

“Access to reliable and productive assets remains an important financing need for individuals and businesses in Tanzania. Vehicles are particularly important because they are not only a means of transport; for many entrepreneurs and businesses, they are income-generating and productivity-enhancing assets,” Mr Zidadu said.

He noted that, affordability and access to financing remained major considerations for customers seeking to acquire vehicles.

“The challenge for many customers is not necessarily the need for a vehicle, but the ability to meet the upfront cost while preserving cash flow for their businesses and households,” he said.

According to Mr Zidadu , the partnership addresses the challenge by combining CFAO’s vehicle brands and automotive expertise with Bank of Africa Tanzania’s financing capabilities.

“This partnership addresses that gap by combining CFAO’s trusted vehicle brands and automotive expertise with Bank of Africa Tanzania’s financing capability, giving customers a structured pathway to acquire the vehicle they need without placing unnecessary pressure on their liquidity,” he said.

He further added, the bank’s ambition was to go beyond financing vehicle purchases and support the economic activities enabled by the assets.

“Whether that is a transport operator expanding a fleet, an SME increasing distribution capacity, a tourism business improving its services, or an individual acquiring an asset for personal and professional use, we want to support the economic activity that the vehicle enables,” he said.

The partnership comes at a time when access to appropriate financing remains an important priority for Tanzania’s SME sector.

The Bank of Tanzania has highlighted initiatives aimed at improving access to credit for SMEs, particularly businesses with viable projects but limited access to traditional forms of collateral.

Commenting on the customer proposition, Bank of Africa Tanzania Head of Retail Banking, Mr Asupya Nalingigwa, said the partnership had been designed to simplify and shorten the process of acquiring vehicles through financing.

“For us, the customer journey is at the heart of this partnership. A customer should be able to identify the vehicle they want, receive the necessary guidance, access financing and complete the purchase through a coordinated process between CFAO and BOA Tanzania,” Mr Nalingigwa said.

He said the objective was to make the process as seamless and efficient as possible so that eligible customers could obtain their asset finance on time and put their vehicles to use without unnecessary delays.

“Our vehicle asset finance solution offers eligible customers financing depending on ability to pay, with a repayment period of up to 48 months, for the purchase of new and eligible pre-owned vehicles from CFAO,” he said.

The facility comes with competitive interest rates, a minimum customer contribution, comprehensive motor insurance and life cover.

Group photo featuring representatives from CFAO Mobility Tanzania and Bank of Africa Tanzania. From left to right:Mr. Asupya Nalingigwa, Head of Retail Banking, Bank of Africa Tanzania; Mr. Khalifa Zidadu, Head of Corporate Banking, Bank of Africa Tanzania; Mr. Ali Timimi, CEO, CFAO Mobility Tanzania; Ms. Tharaia Ahmed, Sales and Marketing Director, CFAO Mobility Tanzania; and Mr. Fabrice De Creisquer, CEO, CFAO Mobility East & Southern Region.

“More importantly, we have worked closely with CFAO to create a seamless customer journey, ensuring that customers can move efficiently from selecting their preferred vehicle to financing and acquisition, enabling them to obtain their asset on time and put it to productive use,” Mr Nalingigwa said.

CFAO’s Director of Marketing and Sales, Tharaia Ahmed, said the partnership initiative pave the way for economic opportunities for business people, farmers and entrepreneurs involved in the transportation of goods and service delivery.

“Our vehicles are of high quality and environmentally friendly. This presents a unique opportunity for farmers transporting produce products from farms to markets, as well as businesses transporting various goods outside the country,” Ms Ahmed said.