Tanzania Government raises 600 Million USD for Infrastructure Development

In what is perceived to be the first benchmark sized private transaction from international capital markets in the Sub-Saharan region, the Tanzanian Government has successfully raised 600 million USD.

The transaction which was raised to support Tanzania’s Infrastructure Development Programme for 2012-2013 financial budget was concluded by Stanbic Bank Tanzania on behalf of the country and will proceed to be utilized for various infrastructure projects within Tanzania.

Managing Director of Stanbic Tanzania Bashir Awale said “It is vital to note that these investments in key infrastructure projects will over the course of their economic lives, unlock benefits that will significantly enhance Tanzania’s GDP”.

Stanbic’s Head of Corporate and Investment Banking Shose Sin said “We are extremely pleased to have closed such a prestigious deal as this.”

In view of Tanzania’s booming economy and multifaceted capital interests in the country, the various economic sectors have witnessed a steady influx of FDI resulting an increasingly business-friendly environment for domestic and international corporations.