London, United Kingdom; July 24, 2026 – Tanzania has achieved a historic breakthrough in its capital markets following the successful listing of the International Finance Corporation's (IFC) inaugural offshore Tanzanian Shilling-denominated bond on the London Stock Exchange (LSE). The landmark transaction is the first offshore Tanzanian Shilling bond for both Tanzania and the East African region, underscoring the country's growing prominence in international financial markets.
The bond, which raised TZS 262 billion, will provide long-term Tanzanian Shilling financing to NMB Bank Plc, enabling the bank to significantly expand lending to micro, small and medium-sized enterprises (MSMEs), women-led businesses, farmers and entrepreneurs across Tanzania.
The transaction represents a major milestone in Tanzania's financial sector development, highlighting increasing international investor confidence in the country's economic fundamentals, financial institutions and long-term growth prospects. It also reinforces NMB Bank's position as a leading financial institution capable of attracting global capital to support Tanzania's national development agenda.
A Defining Moment for Tanzania's Financial Sector
Speaking during the listing ceremony at the London Stock Exchange, NMB Bank Managing Director and Chief Executive Officer, Ruth Zaipuna, described the transaction as a transformative milestone for the country's financial ecosystem.
"The transaction marks a defining moment for Tanzania's financial sector, creating a new pathway for international investment while expanding access to long-term local currency financing for the private sector,"she said.
Zaipuna noted that the innovative financing structure will strengthen the availability of affordable long-term capital for businesses that play a vital role in driving economic growth, job creation and financial inclusion.
Government Welcomes Historic Achievement
Also speaking at the ceremony, H.E. Ambassador Khamis Mussa Omar, Minister for Finance of the United Republic of Tanzania, hailed the listing as a significant achievement in Tanzania's economic transformation journey.
"This marks the beginning of an important step in Tanzania's journey towards full participation in the international capital markets using our own currency. This listing reflects the strong confidence that international financial institutions have in our economy and in the direction of the country's financial sector reforms," the Minister said.
His remarks underscored the Government's commitment to strengthening Tanzania's financial markets while attracting sustainable international investment through innovative financing mechanisms.
Reducing Foreign Exchange Risk
One of the key advantages of the offshore Tanzanian Shilling bond is that it provides financing in local currency, allowing businesses to invest and expand without assuming foreign exchange risk.
Unlike borrowing in foreign currencies, Tanzanian Shilling-denominated financing offers greater financial certainty for businesses, improves long-term planning and supports sustainable economic growth. This structure is expected to enhance resilience among local enterprises while encouraging increased investment across productive sectors of the economy.
Supporting Tanzania Development Vision 2050
The successful listing comes at a pivotal moment as Tanzania begins implementing the Tanzania Development Vision 2050, which prioritises private sector-led growth, industrialisation, innovation and sustainable economic transformation.
Access to innovative long-term financing will play a critical role in helping Tanzania achieve these ambitions by supporting business expansion, improving productivity and increasing employment opportunities nationwide.
The transaction demonstrates how collaboration between international financial institutions and local banks can mobilise capital to accelerate national development priorities.
Strengthening Tanzania's Global Investment Profile
The London Stock Exchange is recognised as one of the world's leading international capital markets and has become a preferred platform for offshore local currency bond issuances.
The successful listing of Tanzania's inaugural offshore Tanzanian Shilling bond places the country among a growing group of emerging economies successfully accessing international investors through local currency financing instruments. The achievement further enhances Tanzania's reputation as an attractive destination for long-term investment and sophisticated capital market solutions.
Expanding Financing for Tanzania's Businesses
For NMB Bank, the transaction reinforces its commitment to providing innovative financial solutions that promote inclusive economic growth.
As one of Tanzania's leading banks serving SMEs, the financing will enable NMB to expand lending to productive sectors, empowering businesses to invest, create employment and contribute to the country's long-term economic development.
The listing ceremony was attended by H.E. Ambassador Khamis Mussa Omar, IFC East Africa Regional Director Mary Porter Peschka, London Stock Exchange Chief Executive Officer Julia Hoggett, representatives from the World Bank Group, NMB Bank and other strategic partners.
A New Chapter for Tanzania's Capital Markets
Beyond the immediate financing, the landmark transaction sends a strong message to global investors that Tanzania is increasingly recognised as a stable and attractive investment destination.
As the country's first offshore Tanzanian Shilling bond, the listing establishes a strong foundation for future international capital market transactions that can mobilise additional long-term investment to support Tanzania's economic transformation, strengthen financial resilience and accelerate sustainable development.
This historic achievement not only enhances Tanzania's standing within global financial markets but also demonstrates the growing confidence of international investors in the country's economic future.
Source: NMB Bank Plc / International Finance Corporation (IFC)
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