TMRC bond attracts more local investors 

THE Tanzania Mortgage Refinance Company Limited (TMRC) has listed on the Dar es Salaam Stock Exchange (DSE) the 4th tranche bond of which all of its investors are locals.

Compared to the previous tranches, luring more Tanzanian investors brings more hope for increasing the liquidity in the capital market.

Moreover, retail investors scoped a big chunk with 69 per cent against 31 per cent of corporate investors during the public offering.

During the public offering which was opened on April 3, until April 24, the TMRC targeted to collect 10bn/- but it successfully oversubscribed by collecting 11.28bn/-, equivalent to 112.8 oversubscriptions.

Speaking at an event to grace the listing of the bond over the weekend, Commissioner for Debt at the Ministry of Finance and Planning, Mr Japhet Justin, pointed out that the move would give more opportunities to people to invest and list their shares on the DSE.

“When we raise funds for the mortgage refinancing, we should also consider how we can reach out to more people for mortgage loans,” Mr Justin challenged as he commended the TMRC for consistently listing the tranches of the bond on the DSE.

He argued that mortgage contribution to the Gross Domestic Product (GDP) was still minimal, below one per cent, hoping that as more people invest in the DSE the sector’s contribution would increase.

Chief Executive Officer of the Capital Market and Securities Authority (CMSA), Mr Nicodemus Mkama, said the sale of the TMRC bond has been positive in the development of the capital market and finance sector at large in the country.

Mr Mkama noted that 69 per cent being retail investors shows a positive gesture in the implementation of the National Financial Inclusion Framework which intends to increase the participation of citizens in the formal financial sector, including the capital market.

He attributed the success to the ongoing public awareness campaigns over the benefits of investing in the capital market.

Mr Mkama further argued that the achievement was a result of the presence of an enabling environment offered by the government.

Commenting, the Acting Chief Executive Officer of the DSE, Ms Mary Mniwasa, said in the past 12 months the DSE has listed four bonds worth 135bn/-.

However, she said the demand was quite high for corporate bonds despite the global economic crunch.

Related Articles

Back to top button
hacklink panel hacklink al hacklink sollet hdxvipizle jojobet casibom bahiscom ikimisli 1xbet deneme bonusu veren siteler en güvenilir slot siteleri tarafbetmatadorbet
hack forum hack forum hacklink hacklink panel cami halısı cami halısı cami halısı cami halısı cami halısı saricahali.com.tr cami halısı cami halısı cami halısı cami halısı evden eve nakliyat ofis taşıma seo hizmeti Onwin yagnatourism.com tatilmoni.com Marmaris casibom casibom casibom casibom casibom casibom casibom casibom casibom casibom casibom casibom casibom casibom casibom casibom vds Bahis Siteleri onwin Diyarbet google.com.tr
ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino ByCasino
Tipobet Tipobet Tipobet Tipobet Tipobet Tipobet Tipobet Tipobet
Sahabet Sahabet Sahabet Sahabet Sahabet Sahabet Sahabet Sahabet
Onwin Onwin Onwin Onwin Onwin
Starzbet Starzbet Starzbet Starzbet Starzbet Starzbet Starzbet
Starzbet Starzbet Starzbet Starzbet Starzbet Starzbet