NMB's Jasiri bond wins crucial award

NMB Bank’s Treasurer - Aziz Chacha (left) receives the Sustainable Bond of the Year award 2022 from the CEO of SME Finance Forum, Mr Mathew Gamser at the awards event Organised by IFC that was held in Phnom Penh, Cambodia on Tuesday. PHOTO/COURTESY

Summary

  • The Award Winning NMB’s Jasiri bond was viewed by a panel of more than 100 judges as well targeted, well-designed and fills a space genuinely not served by conventional finance.

Dar es Salaam. NMB Bank Jasiri Bond was named Platinum Winner of the Sustainable Bond of the Year Category at the 2022 Global Small and Medium Enterprises (SMEs) Finance Forum Awards on Tuesday.

The Award Winning NMB’s Jasiri bond was viewed by a panel of more than 100 judges as well targeted, well-designed and fills a space genuinely not served by conventional finance.

It  aligns with the United Nations’ Sustainable Development Goals (SDGs) and the International Capital Market Association’s Social Bond Principles.

In her acceptance speech, NMB Bank chief executive officer Ruth Zaipuna said the award was a historic moment for the Tanzanian banking industry as it positions the country in the global sustainability leadership map.

She expressed the NMB Bank’s commitment to making finance work for the economic development of Tanzania.

“Our Jasiri Bond, which seeks to bridge the financing gap facing women-owned and led MSMEs, underscores this commitment,” she noted. The bond, she said, achieved the desired impact of driving economic empowerment of women and addressing Sustainable Development Goals (SDGs) 1, 5 and 10.

“The Jasiri Bond sets a new benchmark for the country and the African continent in the development of alternative asset classes for domestic and International Investors,” asserted Ms Zaipuna.

She dedicated the award to NMB Bank staff, partners, investors and regulators for their contribution in the remarkable success of the Jasiri Bond.