Tanzania: New funding round at NMB Bank
Following the transfer of the 174,500,000 shares (34.9% of the capital) of the bank held by Rabobank, a Dutch multinational, to an investment consortium, NMB Bank has a new shareholder, Arise. Rabobank joined forces with the Netherlands Development Bank (FMO) and the Norwegian Public Development Fund (Norfund) to form it. NMB is currently the most profitable bank in Tanzania with a cumulative net profit of 145 billion shillings in Q3 2020.
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