Finance Minister Dr. Mwigulu Nchemba (pictured) has highlighted the critical role of capital markets in empowering Tanzanians economically, aligning with President Samia Suluhu Hassan’s vision of a modern and inclusive economy.

Speaking at the listing of Azania Bank’s bond at the Dar es Salaam Stock Exchange (DSE), Dr. Nchemba commended the bond's oversubscription, which raised 63bn/- against a target of 30bn/-, with 15bn/- greenshoe option. 

He noted that the participation of retail investors, comprising 97 percent of the subscribers, reflects growing public engagement in financial markets.

“This bond’s success demonstrates that many ordinary Tanzanians now see the value of investing in capital market instruments,” he said.

The medium-term note (MTN) bond, launched to raise funds for affordable loans targeting youth, women, and people with disabilities, offers a 12.5 percent quarterly interest and required a minimum investment of 500,000/-.

The bank’s Managing Director Dr. Esther Mang’enya confirmed the bond’s oversubscription at 210.9 percent, attributing it to increased trust in the bank and robust oversight from regulatory bodies such as the Bank of Tanzania, CMSA, and the Dar es Salaam Stock Exchange (DSE).

Capital Markets and Securities Authority (CMSA) Chief Executive Officer Nicodemus Mkama praised the public’s growing awareness of stocks and securities markets, citing the oversubscription as a positive sign for the nation’s economic development.