Azania Bank Launches “Bondi Yangu” to Fund Strategic National Projects

DODOMA, Tanzania – Azania Bank officially launched the “Bondi Yangu” in late 2024, a four-year bond aimed at raising 30 billion Tanzanian shillings to fund strategic projects in key productive economic sectors across the country. The bond offers a minimum purchase of 500,000 shillings, available for purchase at Azania Bank branches, through licensed agents at the Dar es Salaam Stock Exchange (DSE), or directly on the bank’s website,

At the launch event held in Dodoma, Azania Bank’s CEO, Ms. Esther Mang’enya, highlighted that this marks the first time the bank has issued bonds to the public as a means to strengthen its funding capacity and support various initiatives in line with the government’s ongoing efforts to improve social services and stimulate economic growth.

“This is an exciting milestone for Azania Bank, and we are proud to present this bond to the public,” said Ms. Mang’enya. “With a favorable interest rate of 12.5% per annum, paid quarterly, and a four-year maturity period, we are offering an attractive opportunity compared to other market investments.”

The bond issuance officially opened on November 4, 2024, and will run until December 6, 2024. After this period, “Bondi Yangu” will be listed and available for trading on the Dar es Salaam Stock Exchange, allowing investors the option to sell their bonds in the secondary market before the maturity date.

“While we aim to raise 30 billion shillings through this bond, the Capital Markets and Securities Authority (CMSA) has granted us approval to raise an additional 15 billion shillings, potentially bringing the total to 45 billion shillings,” Ms. Mang’enya added, expressing gratitude to the institutions that supported the initiative, including the Bank of Tanzania (BoT), CMSA, DSE, and consulting partner NMB Bank.

The bond is open to a wide range of investors, including individuals, organizations, and companies. The CEO emphasized that this move is in alignment with the government’s push to improve national infrastructure and services, reinforcing Azania Bank’s role in contributing to national development.

A Step Towards National Development

During the event, Mr. Alfred Mkombo, representing the CEO of CMSA, praised Azania Bank for taking a significant step in the country’s economic development. “As the regulatory body, CMSA ensures that bonds comply with legal standards, and we have approved the issuance of Bondi Yangu, which will fund essential strategic projects. We commend Azania Bank for bringing this opportunity to the market,” Mr. Mkombo said.

The Minister of Finance, Hon. Mwigulu Nchemba, also expressed his congratulations and support for Azania Bank’s efforts. “Azania Bank’s commitment to national development through the sale of these bonds is commendable. The government’s role is to continue creating a business-friendly environment, and we are pleased that the investment terms are accessible, allowing even the average Tanzanian to participate. With the bond’s low minimum purchase and high interest rate, it is a great opportunity for Tanzanians to invest and benefit from the country’s growth,” Hon. Nchemba stated.

With the “Bondi Yangu,” Azania Bank is not only offering an attractive investment opportunity but also contributing to the economic empowerment of Tanzanians, aligning with the government’s efforts to create sustainable growth and development.