Awards for Excellence 2023: Best investment bank in Tanzania – Stanbic Bank Tanzania
Capital market transactions might be few and far between in Tanzania, but when they do happen, Stanbic Bank Tanzania is often on the deal.
One of the standout transactions in the awards period was the sale of Millicom International Cellular’s Tanzanian operations to pan-African Axian Group in April 2022 for $100 million. Stanbic Bank acted as co-adviser on the sell side.
It also acted as arranger and sole lender to Mufindi Paper Mills for a $20 million medium-term loan. Owned by the east African family enterprise Rai Group, Mufindi has a 60% market share in Tanzanian paper manufacturing. The loan will go towards a project to use sugarcane bagasse as a more sustainable raw material for paper making.
Stanbic also funded a $20 million term facility for Shanta Mining Co, which owns two gold mines in Tanzania.