NMB Bank's Jasiri Bond will provide financing to up to 3,000 women entrepreneurs in Tanzania
NMB Bank issued the first ever gender bond in the East Africa region. The issuance was 197% over-subscribed, showing a very strong market appetite for gender bonds.
Surely a great sign for everyone involved in financial inclusion and women rights.
The bank’s TZS 74 billion (32 million USD) bond has the objective of bringing financing to women-owned micro, small and medium-sized enterprises in Tanzania.
Up to 3,000 women in Tanzania will thus have access to the financing necessary to start, or grow, their own business.
Improving their financial independence and building a better future for themselves, their families and their communities.
Also known as NMB Bank’s Jasiri bond – it means “brave” in Swahili – the bond was issued under the bank’s Social Bond Framework, aligned with the International Capital Market Association’s Social Bond Principles.
The bond directly contributes to UN Sustainable Development Goals 5, Gender Equality, and 10, Reduce Inequalities.