DAR ES SALAAM, Tanzania, April 12 – Tanzania Commercial Bank (TCB) has joined Ramani’s Financial Marketplace, becoming the second banking partner on the platform after Stanbic Bank.
The move is expected to boost access to credit for small and medium-sized businesses (SMBs), particularly in the fast-moving consumer goods sector.
Ramani, a Y Combinator-backed supply chain financing platform, launched the digital lending hub in June 2023.
The Financial Marketplace streamlines loan origination, underwriting, and repayment processes, offering businesses improved access to working capital through digitisation.
To date, the platform has facilitated over $210 million in cumulative loans, with an average loan size of $47,000.
Since its launch, it has disbursed $5 million through the marketplace, recording month-on-month growth of 136 percent.
TCB’s entry into the ecosystem allows SMBs to choose from a wider pool of lenders and access lower fees and better repayment terms.
The partnership targets businesses operating in key sectors including liquefied petroleum gas, cement, and fuel distribution.
Ramani CEO and co-founder Iain Usiri said the partnership marks another step in scaling access to financing for underserved businesses.
“Supply chain financing has long held back SMB growth. Our platform helps bridge that gap, providing the capital needed for expansion,” he said.
Ramani is transitioning into a full B2B e-commerce platform, with the shift expected to be complete by mid-2025.
Jesse Jackson, Chief Digital and Innovation Officer at TCB, said the bank is keen to drive financial inclusion through innovative platforms like Ramani’s.
“By improving access to scalable and affordable financing, we’re helping businesses overcome one of their most pressing challenges.”
Stanbic Bank, which joined the marketplace in 2024, also reaffirmed its support.
“The growth of Ramani’s platform speaks to the urgent demand for digital financial services for SMBs,” said Fredrick Max, Stanbic’s Head of Business & Commercial Banking.
According to the World Bank, over half of Tanzania’s SMBs report limited access to credit as a major barrier to growth.
Ramani’s model aims to lower the cost and complexity of small business lending for banks while improving reach and efficiency.
