Tanzania embarked on financial liberalization in 1992 in order to sustain its economic growth. This has been done by mobilizing financial resources, increasing competition in the financial market, and enhancing quality and efficiency in credit allocation. As a result, the sector has been booming, particularly during the last few years.
As a result of the liberalization, the banking sector in Tanzania has been booming, particularly over the last few years and new merchant banks, commercial banks, bureaus de change, credit bureaus, and other financial institutions have entered the market.
With a total of 49 licensed banks and other non-banking financial institutions, the market is characterized by a few big players and several small banks, and increasing competition.
The Bank of Tanzania, on behalf of the Government, is announcing the launch of a 25-year Treasury bond on Wednesday, 21st April 2021.
The bond will have the following main features:
Fixed coupon of 15.95%.
Interest payable semi-annually.
Exempt from withholding tax.
Listed at the Dar es Salaam Stock Exchange.
In its press release, BOT explains that the bond in an addition to the existing Treasury bond maturities issued by the Government and is a continuation of its efforts to lengthen the maturity profile of domestic debt, develop the country’s financial markets, raise funds for long-term development projects and provide an anchor for other market instruments such as mortgage financing and corporate bonds.
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.