Dar es Salaam, April 28, 2022 – NMB Bank Plc has today listed its maiden gender bond on the Dar es Salaam Stock Exchange.
The NMB Jasiri gender bond is the first gender bond to list on an exchange in Africa. The bond was 297% over-subscribed which shows great appetite for gender bond issuances and sets a new benchmark for the continent in developing financial instruments specifically targeting gender empowerment. FSD Africa is pleased to partner with NMB Bank on this novel issuance, particularly in providing technical input to develop the Social Bond Framework and the technical assistance towards the framework’s second-party opinion. FSD Africa is funded by UK aid from the UK government. The funds raised will be used to fund women-owned or women-led MSMEs in Tanzania.
Access to capital by women has long impeded equitable and inclusive economic prosperity. We are proud to support NMB Bank on the first gender bond in Sub-Saharan Africa, a ground-breaking issuance that builds on our work supporting the first gender bond issuance in Morocco. Our support affirms our long-term commitment to ensuring gender equality and economic empowerment for women.
Mark Napier, CEO – FSD Africa
