On the trading floor of the London Stock Exchange (LSE) last week, a Tanzanian shilling denominated bond was listed for the first time in the market's history.
The instrument, worth $100 million, or roughly Sh262.5 billion, was issued by the International Finance Corporation and channelled to NMB Bank Plc to expand SME lending, with a fifth of the proceeds ring fenced for women owned businesses.
Finance Minister Ambassador Khamis Mussa Omar rang the closing bell and called it the start of Tanzania's active participation in international capital markets using its own currency. He is right to call it a milestone. He is also, understandably, selling it as more than it currently is.
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Tanzania makes history with first shilling-denominated bond on London Stock exchange
