IFC invests in bond to support access to affordable housing in Tanzania

TANZANIA – To help increase access to longer-term, affordable mortgages and housing in Tanzania, the International Finance Corporation (IFC), has subscribed to a corporate bond issued by the Tanzania Mortgage Refinance Company (TMRC) as a strategy to make longer-term, affordable mortgages and housing accessible in Tanzania. TMRC was listed on the Dar es Salaam Stock Exchange on July 15th. The TMRC bond will support access to mortgages, helping Tanzanians more easily purchase homes in a country where access to longer-term financing has traditionally been constrained. The listing follows approval granted…

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Investment company Arise B.V. acquires 34.9% of Rabobank stake in NMB Bank Tanzania

TANZANIA – African investment company Arise has acquired a 34.9% shareholding previously owned by Rabobank in NMB Bank Plc listed on Dar es salaam Stock Exchange (DSE) in Tanzania. On 28 December 2020, The Capital Market and Securities Authority (CMSA) in Tanzania approved the transfer of 174,500,000 NMB Bank Plc shares owned by Rabobank to Arise, an African investment company that partners with sustainable, locally owned financial services providers in Sub -Saharan Africa. The share transfer process was completed on 31 December 2020. Arise Chief Executive Officer; Deepak Malik said…

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Tanzania, Rwanda and Uganda to forge a single stock market

EAST AFRICA – Three East African countries of Tanzania, Rwanda and Uganda have joined forces to implement a World Bank-funded financial project that aims to connect regional stock markets electronically to enable them  operate as a single market with a view of reducing the cost and time of trading in shares of companies listed on markets across the borders. The three countries are set to start trading as a single market before the end of this year (2020) after interconnecting their trading systems and hooking to the EAC Capital Markets…

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Tanzanian agri-business firm to list on Dar es Salaam Stock Exchange

TANZANIA – Tanzanian agri-business company, JATU Plc is set to float shares to the public through Dar es Salaam Stock Exchange (DSE), with the focus of raising a total of Tzs 7.5bn (US$3.2m). The shares will be issued through Initial Public Offering (IPO) where a total of 3 million shares will be floated at a price of Tzs 2,500 (US$1.08) per share, reports Daily News. The company’s general manager, Mr Issa Simbano said the funds raised will be used for expanding the existing business by boosting industrial activities, irrigation schemes,…

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