New investment avenue as TCB launches Sh150bn bond to boost SME financing
Deputy Permanent Secretary in the Ministry of Finance, Mr Elijah Mwandumbya (left) and Tanzania Commercial Bank Chief Executive Officer, Mr Adam Charles Mihayo, launch the initial public offering of the Stawi Bond in Dar es Salaam on Wednesday.. PHOTO|THE CITIZEN CORRESPONDENT
Dar es Salaam. Investors in bonds have been presented with a new opportunity after Tanzania Commercial Bank (TCB) yesterday launched the Stawi Bond, a medium-term programme worth Sh150 billion.
The five-year bond, which marks TCB’s debut in the capital markets, offers investors a 13.5 percent interest rate payable quarterly. Proceeds will be channelled towards affordable loans for small and medium-sized enterprises (SMEs) to support business growth and job creation.
