The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Tanzania: Rabobank sees success in Tanzanian privatization

Tanzania's largest bank is sold to Dutch-led consortium

President Mkapa: retaining
a 30% stake in NMB

A Rabobank-led consortium has beaten two others in the race to buy a 49% stake in Tanzania's National Microfinance Bank (NMB).


The consortium is believed to be paying almost $30 million for the stake.

Consortiums led by Standard Bank and by Tanzania's Akiba Commercial Bank also bid for the stake. Investors putting in bids were required to have an experienced commercial bank leading the consortium.

As well as Rabobank, the winning group comprises domestic partners Exim Bank, National Investment Company of Tanzania and the Tanzania Chamber of Commerce, Industry and Agriculture.

The government is expected to retain a 30% stake in NMB, Tanzania's largest bank, which it might sell on the Dar es Salaam stock exchange at a later date. A further 21% stake will be sold to Tanzanian citizens and companies.

Under the privatization, Rabobank must provide management and technical assistance for the development of NMB.

NMB mainly provides infrastructure for payments, and offers savings products, although it has recently begun to branch out, offering credit products mainly in the form of micro-loans.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree