The Latest

Tanzania’s First Sukuk Issued by Non-Financial Entity

April 8, 2024
1 minute read
Tanzania Sukuk Bond

Premier Girls Secondary School in Tanzania has become the first non-financial entity in the country to issue a Sukuk, a type of Islamic financial instrument.

Sukuk is a sharia-compliant bond-like instrument that involves a direct asset ownership interest, while bonds are indirect interest-bearing debt obligations.

The Sukuk, structured and led by Tanzanian investment advisor and securities dealer Yusra Sukuk Company, amounted to TZS 1.2 billion (approximately USD 464,707).

It carries a five-year tenor and offers a profit rate of 8.75% per annum.

The issuance was privately placed to institutional investors, primarily financial institutions.

ZIC Takaful Company provided a guarantee covering the entire TZS 1.2 billion, minimizing investors’ risk.

The proceeds from the Sukuk issuance will fund the school’s health center, benefiting the school community and surrounding villagers.

This Sukuk issuance is categorized as socially responsible investment (SRI) Sukuk, aligning with Sustainable Development Goals (SDGs) such as good health, quality education, and gender equality.

Additionally, it marks the first asset-backed Sukuk to originate from Tanzania, utilizing a special purpose vehicle (SPV) structure.

Islamic Bonds (Sukuk) in Tanzania

In 2021, Imaan Finance issued the first Sukuk bonds in Tanzania. The bond was approved by Tanzania’s Capital Markets and Securities Authority (CMSA).

Imaan Finance sought to collect TZS 2 billion but received a total of TZS 2.72 billion in bids, with an oversubscription of 36%, showing the country’s appetite for this product.

Want to know more about the Capital Markets in Tanzania? Our free Tanzania Business and Investment Guide 2026 covers the Capital Markets, plus regulations, key sectors, and investment opportunities — all in one place.

Download Free Guide
Tweet
Share
Share
Share
Related Posts
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
Read More

Dar es Salaam Stock Exchange Week 17 of 2026: Equity Turnover Drops to TZS 31.60 Billion as AFRIPRISE Stands as the Only Positive Performer (+0.63%)

During Week 17 of 2026, the Dar es Salaam Stock Exchange experienced a broad contraction in liquidity, with total equity turnover dropping by -11.30% to TZS 31.60 billion and bond turnover falling by -64.94%. Market sentiment was overwhelmingly bearish, pulling down all primary indices, though AFRIPRISE defied the trend to lead as the only advancing stock, gaining +0.63%.
Tanzania Building African Financial Markets Forum (BAFM) 2026 July
Read More

Building African Financial Markets Forum (BAFM): 1-3 July 2026, Dar es Salaam

Tanzania will host the 13th edition of the Building African Financial Markets (BAFM) Forum on 1-3 July 2026 in Dar es Salaam, jointly organized by the Dar es Salaam Stock Exchange (DSE) and the African Securities Exchanges Association (ASEA). The forum will convene CEOs of African stock exchanges, regulators, pension funds, brokers, and development finance institutions, including AfDB, IFC, and the World Bank, to discuss liquidity, fintech, cross-border listings, AfCFTA capital flows, ESG instruments, ETFs, REITs, and SME platforms.
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
Read More

Dar es Salaam Stock Exchange Week 16 of 2026: Equity Turnover Surges as MBP (+12.61%) Leads as Best Stock Performer

During Week 16 of 2026, the Dar es Salaam Stock Exchange (DSE) experienced a massive resurgence in liquidity across multiple asset classes. Total equity turnover soared by 156.63% to TZS 35.62 billion, driven by substantial block trades in CRDB. Share volume also expanded significantly, jumping +73.13% from the previous week. The bond market saw an even more dramatic expansion, with turnover skyrocketing by +780.56% to TZS 256.42 billion. Despite the influx of capital and robust trading activity, market sentiment remained bearish for equities. This widespread negative price movement resulted in contractions across all primary DSE indices. Among the few bright spots in the market, MBP emerged as the week’s biggest winner, appreciating by +12.61%.
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
Read More

Dar es Salaam Stock Exchange Week 15 of 2026: Equity Turnover Contracts in a 3-Day Week as KA (+27.27%) and PAL (+18.68%) Lead as Best Stock Performers

During Week 15 of 2026, the Dar es Salaam Stock Exchange (DSE) experienced a pullback in overall equity, ETF, and bond trading activity, primarily due to a shortened three-day trading week in observance of Easter Monday and Karume Day. Total equity turnover dropped by -36.88% to TZS 13.88 billion, and share volume decreased by -6.39% compared to the prior week. The ETF market also saw a turnover decline of -21.52%, while the bond market contracted sharply by -62.72% to post TZS 29.12 billion in turnover. Despite the reduced liquidity, stock price movements were overwhelmingly positive, lifting all primary indices across the board. KA led the gainers by appreciating +27.27%, followed by PAL, which gained +18.68%.