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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NMB Bank appoints Ruth Zaipuna as the CEO, hands US$6.55m dividend to the government

TANZANIA – NMB Bank, the leading commercial bank in Tanzania, has announced the appointment of Ruth Zaipuna as its Chief Executive Officer. In a statement the bank said Ms Zaipuna has made a significant contribution in its strategy, governance, cost efficiency and overall leadership of the bank. Ruth becomes the first Tanzanian CEO to head Tanzania’s most profitable and leading bank in the country, having served as the Acting CEO for a year. “Ruth has been instrumental during the transition period and a key player in the growth realisation of…

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Tanzania’s NMB Bank sets aside US$217.65m credit facility for dairy sector

TANZANIA – The NMB Bank, a commercial bank in Tanzania, has set aside US$217.65 million (Tshs500 billion) to finance milk processing ventures in a bid to boost several milk processing plants in the country. The financial institution said that the funding, which will be available as a credit facility, is also aimed at boosting milk consumption per capita and increasing efforts of creating a ready market for the dairy sector. According to Mboka Mwanitu, NMB’s Research Officer, the move is geared towards assisting milk processing industry in the country adding…

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