EXIM BANK TANZANIA HIGHLIGHTS POTENCIAL OPPORTUNITIES FOR THE PRIVATE SECTOR EMANATING FROM GAS DISCOVERY IN TANZANIA

Exim Bank CEO, Dinesh Arora.

Exim Bank Tanzania has called upon the public to make use of the current gas discovery in Tanzania since it has the potential to alter the structure of prevailing economy and create the new economy based on natural gas which will have an impact on all sectors including Banking and Trading.

The call was made by Exim Bank Chief Executive Officer (CEO) Mr. Dinesh Arora during a cocktail party staged by the bank for its corporate clients held in Dar es Salaam recently.
Further, Mr. Arora mentioned that there is lot of new opportunities for the private sector in medium to long term on account of support and ancillary services to gas industry such as logistics and transportation, equipment maintenance, specialized equipment manufacturing, fabrication and construction, environmental services, and Vocational Training.

“Exim Bank Tanzania also believes that going forward; the demand for housing, recreation facilities, hospitality, education and health services will increase. The key for private sector would be fostering linkages with gas industry and identifying and tapping potential opportunity,’’ he mentioned.

Taking cognizance of development in the economy, the bank envisages that companies would require more long term and innovative means of financing to meet their growing needs, according to Mr. Arora.

“As the 5th largest local bank, Exim Bank has embarked to provide Investment Banking services in form of Advisory and Intermediary services to create and raise Capital both in form of debt and equity for corporate clients,’’ he insisted.

Further Mr. Arora said, that customers should make use of the bank’s investment banking division, which has now enlisted more tailor-made services to cater for the customer’s needs viz. Project Financing, Debt and Equity Syndication services and Private Equity & M&A Advisory Services.

The bank has built suitable capacities in the regard and also strengthened its governing structure to bring in global relationship and network with investors, according to Mr. Arora while adding “We have also applied for suitable licenses and tied up with investors / PE funds/ DFIs and lenders,’’

Weighing in on the services embedded in the division, Mr Arora said the bank’s investment banking team deliver high-quality strategic advice and creative financing solutions to its clients, including mergers and acquisitions, financing, and risk management transactions.

“Our bank’s structure allows us to better serve the strategic and financing needs of our clients across all industries. We aspire to be the leading trusted advisor to our clients, which include private corporations, financial institutions, governments companies & public authorities and investors & lenders.” he mentioned.

By Staff Writer