The Latest

Tanzania Mortgage Refinance Company Invests THS16 Billion in Member Banks

October 18, 2013
1 minute read

The Tanzania Mortgage Refinance Company (TMRC) has dispersed TSH 16 billion to member banks for home mortgage loans.

The private institution was formed as a joint effort between the government and World Bank with the objective of making home construction and ownership more accessible to Tanzanians. 

TMRC is one component of a three part plan known as the Housing Finance Project, which makes mortgages more easily available: the remaining components are a housing microfinance scheme, and the expansion of affordable building supplies.  

Currently TMRC is using a World Bank loan to refinance its member banks, and it plans to issue corporate bonds to raise funds to lend to the banks as well.  

Similar institutions have proved successful in advancing financial development in countries such as Egypt and Malaysia.  

Currently eleven Tanzanian member banks are shareholders in the company, and Chief Executive Officer, Ocsar Mgaya, has stated that TMRC is an “‘open club’ with no restrictions on entry for [new] eligible investors” to join. 

Follow the link to read TanzaniaInvest’s interview with Oscar Mgaya, CEO of TMRC:  http://tanzaniainvest.com/banking-finance/interviews/878-oscar-mgaya-tmrc

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

Download Free Guide
Tweet
Share
Share
Share
Related Posts
Tanzania Second Financial Sector Stakeholders Forum
Read More

Tanzania Outlines Eight Financial Sector Priorities From Climate Finance to Islamic Banking and Launches Insurance Strategies to Raise Sector GDP Contribution to 30%

Tanzania's Finance Minister Khamis Mussa Omar has outlined eight financial sector priorities—from climate finance and Islamic banking to digital asset regulation and SME capital access—and launched two new insurance strategies. The National Inclusive Insurance Strategy (NIIS) targets agriculture, livestock, fisheries, mining, and forestry, while the RIDeS aims to raise insurance's GDP contribution from 22% to 30%.
Tanzania Financial Inclusion Index 2018-2024
Read More

Tanzania Financial Inclusion Index Rises to 0.81 in 2024 with Growth in Microfinance, Mobile Money, Digital Loans, Warehouse System, and Digital Insurance

The Bank of Tanzania Tanzania Financial Inclusion Report 2024 shows the inclusion index rising to 0.81, driven by increased access and usage of financial services. Microfinance access points grew 21.4% year-on-year, active mobile money accounts rose 17.5% to 60.75 million, digital loans doubled, warehouse system beneficiaries increased 1,178%, and digital insurance premiums reached TZS 1.4 trillion, highlighting strong growth across both traditional and digital financial services.