Tanzania has formalized a strategic partnership between the National Carbon Monitoring Centre (NCMC) and CRDB Bank Plc to bolster the nation’s carbon trading sector. The Memorandum of Understanding (MoU) was signed in Antalya, Turkey, on November 13, 2026, during the sidelines of the United Nations Climate Change Conference (COP31). According to the Daily News, the collaboration seeks to combine the NCMC’s regulatory oversight with the bank’s financial capacity to create an enabling environment for green investments.
Hamad Yussuf Masauni, the Minister of State in the Vice-President’s Office, commended the institutions for their initiative. He stated that the partnership would leverage NCMC’s expertise in coordinating carbon trading activities alongside CRDB Bank’s investment capabilities. The minister emphasized that the government views carbon trading as a critical driver for economic transformation, job creation, and sustainable development under the National Development Vision 2050.
Masauri challenged CRDB Bank to develop innovative financial solutions, such as loans and guarantees, to improve capital access for carbon project developers. He stressed that financing must not bypass legal procedures, urging all projects to comply with the Environmental Management Act and the 2022 Carbon Trading Regulations. The minister warned that access to capital does not authorize project implementation without proper regulatory approval and environmental integrity checks.
Kathryn Kigaraba, the Executive Director of NCMC, noted that the partnership would enable local financing for carbon projects, strengthening Tanzania’s capacity to expand the sector. Abdulmajid Nsekela, CRDB’s Chief Executive Officer, added that the agreement would open investment opportunities and facilitate projects with tangible social and economic benefits. Richard Muyungi, the Permanent Secretary in the Vice-President’s Office, affirmed that the deal supports the implementation of the national development vision by stimulating productive activities.
The government aims to ensure that carbon trading delivers shared benefits to Tanzanians, including improved livelihoods and technology adoption. Masauni urged both institutions to focus on tangible economic, social, and environmental outcomes. The partnership represents a significant step in Tanzania’s strategy to mobilize climate finance and integrate the private sector into the national green economy framework.