Tanzania achieves B1 access to capital markets, international bonds

DAR ES SALAAM: STANDARD Chartered Bank has congratulated Tanzania after it was involved in assessing the country’s ability to access capital markets and international bonds.

Moody’s Investors Limited, a global firm that does the assessment, also confirmed the report, saying Tanzania attained the B1 level with a stable outlook.

The congratulations were given in Dar es Salaam by the Bank’s Chief Executive Officer, Herman Kasekende, when he met and held talks with the Tanzanian Minister for Finance, Khamis Mussa Omar, where they discussed various issues of cooperation between the Tanzanian government and the Bank, especially the financing of the SGR Modern Railway.

Kasekende said that Tanzania is doing well in managing its economy, including controlling inflation, strengthening the value of its currency, increasing exports, and managing its national debt effectively, compared to many countries in Sub-Saharan Africa.

Moody’s has assessed Tanzania on various criteria where, despite several upheavals, it has seen the country making improvements made by the Sixth Phase Government led by Hon. Dr. Samia Suluhu Hassan, in various economic and social sectors.

In 2023, the Company, for the first time, assessed Tanzania and gave it a B2 score, and later in 2024, after the Government made major economic and social reforms, it gave Tanzania a B1 score, which enables it to access Capital Markets and securities at affordable prices as well as build confidence to attract investment capital from abroad.