Tanzania Mortgage Refinance Company (TMRC) has officially launched its Second Medium Term Note Programme (MTN Programme II), marking another major milestone in the country’s efforts to strengthen capital markets and expand access to affordable housing finance.

The launch event, held in Dar es Salaam, brought together senior government officials, financial institutions, capital market stakeholders, development partners, investors, and members of the media. The ceremony was officiated by the Deputy Governor of the Bank of Tanzania, Dr. Yamungu Kayandabila on behalf of the Governor.
Speaking during the launch, TMRC’s Chief Executive Officer, Elibariki Ndossi described the programme as a strategic initiative aimed at mobilising long-term funding to support Tanzania’s growing housing sector while deepening the country’s financial and capital markets.

The newly launched programme has a capacity of up to TZS 100 billion and follows the successful completion of TMRC’s first Medium Term Note Programme, which was launched in 2018 and concluded in 2022.
Supporting Tanzania’s Housing Agenda
According to TMRC, the new programme is designed to:
- Mobilise long-term resources through capital markets
- Increase affordable liquidity for housing finance institutions
- Expand access to affordable and quality housing for Tanzanians
The CEO noted that Tanzania continues to face a significant housing deficit, with annual demand estimated at more than 300,000 housing units, while actual housing production remains far below that figure.

Beyond construction challenges, the housing sector also faces several financing constraints, including:
- Limited access to long-term mortgage financing
- High borrowing costs for home loans
- Limited capacity among financial institutions to provide long-term lending
TMRC says the MTN Programme II will help address these challenges by enabling banks and financial institutions to increase the availability of affordable mortgage loans and housing improvement financing.

The funds raised under the programme are also expected to support housing developers and strengthen the overall stability and depth of Tanzania’s financial and capital markets.
Strengthening Investor Confidence
During the launch, TMRC emphasised that the success of the programme is built on strong governance, financial discipline, and transparency.
The institution highlighted its commitment to:
- Robust financial management systems
- International Financial Reporting Standards (IFRS)
- Strong oversight from the Board of Directors and regulatory authorities