The Tanzanian government recently sold 49% of its shares in the National Microfinance Bank (NMB) to a consortium led by Rabobank of the Netherlands for $29.4 million. Rabobank is a financial institution with numerous global branches, and total assets in 2004 at approximately å¥475.09 billion. The sale initiates NMB’s privatization while the future sale of 21% of the remaining 51% of the government’s shares in NMB will be sold to the Tanzanian public.
Since its partial acquisition, Rabobank has expressed interest in providing management services and training and technical assistance to NMB. It also plans on broadening access and services to the poor, especially in rural areas. The NMB, which has countrywide branches, primarily serves the underprivileged.
Additional Resources
1) Consultative Group to Assist the Poor (CGAP): “Microfinance Capital Markets Update” is the best source for monthly updates on debt and equity deals in microfinance.
2) “Government Approves Sale of 49% Stake in NMB
to a Consortium Led by Rabobank Nederland.”
3) “First Phase of NMB Divestiture Concluded.”
4) “Key Figures.”
5) “Rabobank around the World: Offices.”
Similar Posts:
- MICROFINANCE PAPER WRAP-UP: “Climate Risk and Financial Inclusion: A Regulatory Perspective on Risks and Opportunities;” by Peter Knaack, Peter Zetterli
- MICROCAPITAL BRIEF: Abler Nordic Sells Equity Stake in Microfinance Institution Baobab Senegal, Retains Holding in Parent Company
- MICROFINANCE PAPER WRAP UP: “Women Agents for Financial Inclusion: Exploring the Benefits, Constraints and Potential Solutions,” by Emilio Hernandez et al, Published by CGAP
- MICROCAPITAL BRIEF: SBFC Raises $18m from Amansa for On-lending to Small Businesses, Households in India
- MICROCAPITAL BRIEF: G20, SME Finance Forum Showcase Digital Finance Solutions for MSMEs Via Online Database, Seek Submissions
