Dar es Salaam. NMB Bank Plc’s corporate bond was yesterday listed at the London Stock Exchange (LSE).
NMB Bank revealed in a statement yesterday that its Jamii Bond was listed at the LSE’s International Securities Market and Sustainable Bond Market platform.
The cross-listing of US dollar-dominated three-year debt security took place during a market opening ceremony at the LSE’s International Securities Market and Sustainable Bond Market platform that is known for advancing climate-aligned, sustainable finance and green investments.
Last year, NMB Bank made a similar move when it started trading its gender-based instrument, the Jasiri Gender Bond, at the Luxembourg Stock Exchange.
The statement quotes the LSE CEO, Julia Hoggett as saying the cross-listing of the instrument marks a venue of choice for the bond’s first admission to trading outside Africa.
“This not only highlights NMB’s dedication to transparency and commitment to their sustainability objectives, but also showcases the continued international investor support that issuers across Africa can find in London,” said Ms Hoggett.
The bond, she said, empowers investors with the opportunity to make money while bettering lives and helping to protect Mother Nature.
The lender floated the dual-tranche NMB Jamii Bond last year to raise Sh75 billion in local currency and $10 million for financing social and green projects. The bonds had shoe options of Sh25 billion and $5 million.
Both tranches were, however, oversubscribed. While the Sh75 billion bond was oversubscribed by 284 percent to raise a total of Sh400 billion, the $10 million one ended up raising $160 million, representing an oversubscription of 730 percent.
Speaking on the cross-listing, NMB Bank CEO, Ms Ruth Zaipuna, who led NMB officials and other dignitaries to celebrate the significant development in the lender’s history, said the move enhances the bank’s credentials in global money markets and its visibility to the international investor community.
“Today’s listing of the Jamii Bond cements NMB Bank’s position as a trailblazer in sustainability within the African capital markets and now at a global stage,” she said during the event that was also attended by Tanzania’s High Commissioner to the UK, Ambassador Mbelwa Kairuki, and the British Minister of State in the Foreign, Commonwealth & Development Office, Mr Andrew Mitchell.
She said apart from giving the two bonds better visibility internationally, the offshore ventures also enable the bank to tap funds from a deeper pool of capital and wider investor base for financing enhancement of lives, transformation of communities and shaping a better future for all.
The Jamii Bond is the first tranche of NMB’s current 10-year Sh1 trillion (circa $385 million) multi-currency Medium-Term Note (MTN) Programme whose proceeds are being dedicated to support impactful projects such as renewable energy, sustainable water and waste water management, green buildings, food security, and employment generation.
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Tanzania Confirms Second Marburg Outbreak After WHO Chief Visit
Dar es Salaam — Tanzania’s President Samia Suluhu Hassan has declared an outbreak of Marburg virus, confirming a single case in the northwestern region of Kagera after a meeting with WHO director-general Tedros Adhanom Ghebreyesus.
The confirmation follows days of speculation about a possible outbreak in the region, after the WHO reported a number of deaths suspected to be linked to the highly infectious disease.
While Tanzania’s Ministry of Health declared last week that all suspected cases had tested negative for Marburg, the WHO called for additional testing at international reference laboratories.
“We never know when an outbreak might occur in a neighbouring nation. So we ensure infection prevention control assessments at every point of care as routine as a morning greeting at our workplaces.”Amelia Clemence, public health researcher
Subsequent laboratory tests conducted at Kagera’s Kabaile Mobile Laboratory and confirmed in Dar es Salaam identified one positive case, while 25 other suspected cases tested negative, the president told a press conference in Dodoma, in the east of the country today (Monday).
“The epicentre has now shifted to Biharamulo district of Kagera,” she told the press conference, distinguishing this outbreak from the previous one centred in Bukoba district.
Tedros said the WHO would release US$3 million from its emergencies contingency fund to support efforts to contain the outbreak.
Health authorities stepped up surveillance and deployed emergency response teams after the WHO raised the alarm about nine suspected cases in the region, including eight deaths.
The suspected cases displayed symptoms consistent with Marburg infection, including headache, high fever, diarrhoea, and haemorrhagic complications, according to the WHO’s alert to member countries on 14 January. The organisation noted a case fatality rate of 89 per cent among the suspected cases.
“We appreciate the swift attention accorded by the WHO,” Hassan said.
She said her administration immediately investigated the WHO’s alert.
“The government took several measures, including the investigation of suspected individuals and the deployment of emergency response teams,” she added.
Cross-border transmission
The emergence of this case in a region that experienced Tanzania’s first-ever Marburg outbreak in March 2023 has raised concerns about cross-border transmission, particularly following Rwanda’s recent outbreak that infected 66 people and killed 15 before being declared over in December 2024.
The situation is particularly critical given Kagera’s position as a transport hub connecting four East African nations.
Amelia Clemence, a public health researcher working in the region, says constant vigilance is required.
“We never know when an outbreak might occur in a neighbouring nation. So we ensure infection prevention control assessments at every point of care as routine as a morning greeting at our workplaces.”
The Kagera region’s ecosystem, home to fruit bats that serve as natural reservoirs for the Marburg virus, adds another layer of complexity to disease surveillance efforts.
The virus, closely related to Ebola, spreads through contact with bodily fluids and can cause severe haemorrhagic fever.
Transparency urged
Elizabeth Sanga, shadow minister of health for Tanzania’s ACT Wazalendo opposition party, says greater transparency would help guide public health measures.
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“This could have helped to guide those who are traveling to the affected region to be more vigilant and prevent the risk of further spread,” she said.
WHO regional director for Africa Matshidiso Moeti says early notification of investigation outcomes is important.
“We stand ready to support the government in its efforts to investigate and ensure that measures are in place for an effective and rapid response,” she said, noting that existing national capacities built from previous health emergencies could be quickly mobilised.
The situation coincides with leadership changes in Tanzania’s Ministry of Health, with both the chief medical officer and permanent secretary being replaced.
This piece was produced by SciDev.Net’s Sub-Saharan Africa English desk.
Source: allafrica.com
