Tanzania’s top banking executives, capital market leaders, and climate finance experts gathered in Dar es Salaam this week for the Green Finance Forum, issuing a unified call to fast-track sustainable investment and close the funding gap threatening the country’s climate goals. The high-level meeting, convened by the CEO Roundtable of Tanzania (CEOrt), focused on mobilizing private capital to accelerate the country’s green transition—amid mounting evidence that climate inaction could cost the continent trillions in lost productivity and deepening poverty.
Held under the theme “Mobilizing Resources for the Green Transition,” the forum brought together financial institutions, multilateral development partners, and sustainability leaders to unpack the role of capital in shaping a resilient, low-carbon economy. As climate impacts intensify—through erratic rainfall, declining crop yields, and biodiversity loss—there is growing consensus that traditional models of financing must evolve.
The stakes are particularly high for Africa. The continent contributes less than 4% of global greenhouse gas emissions but remains disproportionately exposed to climate risks. According to the African Development Bank, climate change could reduce Africa’s GDP per capita by up to 7.1% by 2050, and by as much as 26.6% in the hardest-hit countries. Yet Africa receives less than 5% of global climate finance flows, reflecting both a market failure and a missed opportunity.
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Tanzania, like many of its regional peers, is stepping up efforts to change that narrative. From green bonds to ESG-aligned credit, financial actors are exploring tools that balance commercial returns with environmental integrity and social inclusion. KCB Bank Tanzania is among those leading the charge. The bank has embedded SDG and environmental criteria into its credit framework and is actively training corporate managers to deliver sustainability-informed support to clients.
“There is no sector untouched when it comes to the environment—whether infrastructure, trade, or tourism. All must adapt,” said Gabriel Lekundayo, Director of Corporate Banking at KCB Bank Tanzania. “We’re proactively identifying climate-resilient projects, especially in agriculture and infrastructure.”
NMB Bank Plc also reaffirmed its sustainability agenda, showcasing its commitment to green financing instruments such as sustainability bonds, which are earmarked for both environmental and social impact. Innocent Yonazi, Head of Investor Relations at NMB, described sustainable finance as not merely a moral responsibility but a “strategic imperative” that underpins inclusive growth.
As discussions unfolded, a key message echoed through the room: green finance must evolve from policy rhetoric to practical, bankable solutions. That means not just aligning portfolios with climate goals, but also ensuring the flow of capital reaches where it’s needed most—smallholder farmers, informal sector entrepreneurs, and emerging green innovators.
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Dr. Severin Kalonga of WWF Tanzania emphasized the urgency of systemic action, warning that climate change is a “poverty multiplier” whose impact is already eroding food security and national productivity. WWF, a long-time advocate of nature-based solutions, is supporting the integration of environmental metrics into financial frameworks to bridge the gap between ecological stewardship and economic planning.
Forum participants flagged the lack of investable green project pipelines, inconsistent data standards, and limited local investor appetite as key barriers to scale. Paula Leynes Felipe of the International Finance Corporation (IFC) stressed the importance of moving “from asset financing to data financing,” calling for more credible metrics, transparent risk assessments, and robust monitoring systems.
Capital markets also have a critical role to play. Peter Nalitolela, CEO of the Dar es Salaam Stock Exchange, highlighted momentum in green bonds and ESG disclosures but called for deeper financial innovation and broader participation from institutional investors.
The CEO Roundtable, which marked its 25th anniversary this year, used the forum to reinforce its Business and Sustainability Agenda, launched in 2019. Executive Director Santina Benson captured the sentiment of the day: “Green finance is no longer peripheral—it’s central to Tanzania’s growth. We’ve made real progress, but access to capital remains a challenge for many businesses. Forums like this help move us from ambition to action.”
As Tanzania and the wider continent grapples with the twin pressures of climate urgency and development needs, one truth stands clear: unlocking green finance at scale will require not just goodwill, but grit, innovation, and unwavering collaboration across sectors.
