Dar es Salaam. Azania Bank has successfully attracted an astounding Sh63.3 billion through its inaugural bond issuance, “Bondi Yangu,” marking a significant milestone in Tanzania’s financial landscape.
Speaking in Dar es Salaam on Friday, January 24, 2025, during the event to list Azania Bank’s inaugural bond on the Dar es Salaam Stock Exchange (DSE), Dr Mwigulu Nchemba, the Minister for Finance, encouraged other institutions to follow Azania Bank’s lead.
He urged them to issue their own bonds, which would create opportunities for citizens to engage in economic growth.
Dr Nchemba highlighted that leveraging digital systems is vital for facilitating these investments and enabling broader public participation, while also reducing reliance on cash transactions.
He asserted that adopting these modern approaches is essential for fostering sustainable development in Tanzania’s evolving financial landscape.
Ms Esther Mang’enya, the CEO of Azania Bank, revealed that the funds raised would specifically support initiatives aimed at empowering women, youth, and small entrepreneurs throughout the country.
“This Sh63.3 billion is not just a number; it represents our commitment to uplifting our communities,” she declared, highlighting the transformative potential of the investment in fostering entrepreneurship and driving economic growth.
Mr Peter Nalitolela, the CEO of the DSE, provided an encouraging overview of the investment climate, reporting that the total value of bonds in the market had surged to approximately Sh27.6 trillion.
This significant growth in capital markets demonstrates the increasing confidence investors have in Tanzania’s economy and highlights the potential for future investment opportunities.
The event marked a pivotal moment in Tanzania’s financial landscape, showcasing the importance of collaborative efforts to foster economic growth.
The enthusiasm surrounding the Sh63.3 billion raised became a rallying point for stakeholders and citizens alike, emphasizing the role of responsible investment in community development.
As the ceremony concluded, the focus on the funds raised not only celebrated a successful bond issuance but also served as a beacon of hope for a more prosperous and inclusive economic future in Tanzania.
With a clear strategy in place, the country is poised to harness the transformative power of investment to uplift its communities and drive sustainable development.
