UNCDF appoints NBC Tanzania as Lead Transaction Advisor for Tanga Water Infrastructure Green Bond

The United Nations Capital Development Fund (UNCDF) has officially announced the appointment of the National Bank of Commerce Ltd (NBC) as the Lead Transaction Advisor (LTA) to finalize critical steps towards issuance of the first sub-national water infrastructure green revenue bond to be issued by Tanga UWASA.

The announcement was cemented by the signing of a strategic agreement with NBC Tanzania that will lead a consortium of five other financial and licensed capital market advisors, a requirement by Capital Market and Securities Authority CMSA and a path for the transaction to be listed at the Dar es Salaam Stock Exchange.

As part of the bond structure, this assignment includes finalization of the prospectus and securing relevant clearances from the government and capital markets regulators. The bond is expected to be issued by end of quarter 1, 2023.

Speaking during the event, the Head of Corporate and Investment Banking of NBC Tanzania, James Meitaron said that “As a local bank, we are proud to be the first bank in the country to take part as the Lead Transaction Adviser for a transaction of this kind. Today we have witnessed history being written where for the first time in the country, a sub-national entity (Tanga-UWASA) in collaboration with UNCDF has opened new avenues for capital mobilization that is going to be done through green bond issuance”

 The funds will be used to improve water infrastructure in Tanga and hence significantly boost the welfare and well-being of the people around those areas. We at NBC Tanzania are proud to use our experience and expertise to bring solutions to the challenges facing the society.