NMB Bank Plc’s Jasiri Bond has been awarded the Platinum Winner in the Sustainable Bond of the Year Category at the 2022 Global SME Finance Forum Awards held in Cambodia yesterday.
The award is given to institutions that demonstrate a sustained commitment to serving the SME sector in its market(s) through social, green, or sustainability bonds.
Organized by IFC – International Finance Corporation, a member of the World Bank Group, and SME Finance Forum, Managed by the IFC (International Finance Corporation) and endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI), the Global SME Finance Awards celebrate the outstanding achievements of financial institutions and fintech companies in delivering exceptional solutions to the SMEs.
Commenting on the Award, the NMB Bank Chief Executive Officer Ruth Zaipuna said the award is a milestone achievement not only for the bank, but for Tanzania’s banking industry.
“I dedicate this award to all our partners, staff and customers for their unweathering support and commitment to the bank,” she said.
The NMB Jasiri Bond issued by the bank earlie this year was oversubscribed by 297 percent.
NMB issued the bond in its effort to raise funds for extension of affordable financing for women-owned or women-controlled enterprises and/or businesses whose products or services directly impact a woman.
The bank sought to raise 25bn/- , which had a green shoe option of 15bn/- but investors massively and snapped up the bond with a total of 74.26bn/- in bids.
As a result, NMB sought and received approval of the Capital Markets and Securities Authority (CMSA) on April 11, 2022 and accepted all bids received for the Jasiri bond.