News & Events
NMB Bank is among the top 2 commercial banks in Tanzania catering to 2.8 million customers (having grown from 600,000 customers in 2005), over 800 ATMs (app. 40% of total ATMs in the country), 222 branches and 3,785 Agents. The bank was privatized in 2005 with currently Robo Bank holding 34.9% stake and Government of Tanzania holding 31.8% stake.
UMANDE UNIT TRSUT LAUNCHED
It was a great evening at the Southen Sun Hotel when the Umande Unit Trust was launched. This is the latest of the collective investment schemes approved by CMSA to enter Tanzani's capital markets.
The CIS has been sponsored by CORE Capital Limited, a subsidiary of CORE Securities Limited, as the Fund Manager and Stanbic Tanzania Limited as Truste and Custodian. It has the following characteristics:
IPO OPEN - MONDAY 1 JUNE 2015
IPO CLOSES - FRIDAY 24 JULY 2015
EXPECTED FIRST DEALING DATE: MONDAY 27JULY 2015
There are 3 funds on offer:
UMANDE CAPITALISATION FUND: 100 MILLION UNITS @ TZS 100/= EACH
UMANDE INCOME FUND: 150 MILLION UNITS OF TZS 100/= EACH
UMANDE BALANCED FUND: 200 MILLION UNITS OF TZS 100/= EACH
Attached is the approved Offer Document and an Executive Sensitisation Document.