About NBC Twiga Bond
Introduction:
The Bank dates back to 1967, when the Tanzanian government nationalized all banks and other financial organizations.The banking sector underwent changes in 1991, and six years later, in 1997, the organization formerly known as the National Bank of Commerce was divided into three distinct organizations:
- NBC Holding Corporation
- National Microfinance Bank (NMB)
- NBC (1997) Limited
Absa Group Limited, a provider of financial services in South Africa, bought the majority of NBC in 2000.
The International Finance Corporation (IFC), a member of the World Bank Group, acquired 15% of the bank's shares while the Tanzanian government kept its 30% ownership.
The new company was given the name NBC Limited.
About NBC Twiga Bond
To increase company finance and other economic activity, the National Bank of Commerce (NBC) plans to raise Sh300 billion over the next five years.
The bank will raise the money in several installments through its recently introduced Twiga Bond, with the first phase anticipated to begin next week and last for 30 days.
The initial payment, beginning on November 7, is anticipated to raise Sh30 billion.
Also Read: Ewura Announces New fuel Prices | Bei Mpya za Mafuta November 2022.
Highlights:
- NBC Twiga Bond Named 5 Years Bond,
- Fixed Coupon Rate 10%
- Semi-annual payment
- Purchase of at least 500,000/=
- Non-taxable Maturity 2027
Read more Details about NBC Twiga Bond on this PDF File by Tapping / Clicking Here
