NBC ISSUES TWIGA BOND TO RAISE FUNDS FOR SME, AGRI-VALUE CHAIN FINANCING RETAIL AND OTHER ECONOMICALLY VITAL SECTORS

NBC Managing Director, Theobald Sabi.

National Bank of Commerce (NBC) is issuing a five-year bond branded NBC Twiga Bond, which targets anyone who wishes to invest and earn an attractive return.

The minimum purchase amount is TZS 500,000 and can be purchased from any NBC Tanzania branch, or the Capital Markets and Securities Authority (CMSA) licensed Stockbrokers.

The NBC Twiga Bond is seeking to raise TZS 30 Billion, the proceeds of which will be used to extend affordable financing for Small and Medium Enterprises, Micro and Agri-sector in the country.

This is the first time NBC Tanzania has issued bonds for the public and it is a welcome call to the SMEs, farmers and small traders who form the majority of employments of the youth and women in Tanzania.

Investors in the NBC Twiga Bond will earn a whopping interest rate of 10% per annum, payable semi-annually throughout the five years until November 2027. The interest rate paid is free from withholding tax deduction.

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