Tanzania Launches Housing Bond to Tackle Mortgage Shortage
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Tanzania is turning to capital markets to help close its growing housing gap. A new housing bond aims to unlock long-term mortgage financing and expand access to homeownership.
Tanzania Mortgage Refinance Company (TMRC) has launched a new “Nyumba Bond” aimed at increasing long-term mortgage financing and supporting affordable housing development across the country. The initiative is designed to strengthen banks’ ability to offer housing loans as Tanzania faces an annual housing deficit estimated at more than 300,000 units.
The move is significant because limited mortgage access and high borrowing costs have historically kept many Tanzanians out of the formal housing market. TMRC says proceeds from the bond will support mortgage lending, housing development, and home improvement financing while helping deepen Tanzania’s capital markets. Analysts believe the initiative could also stimulate construction activity and job creation as rapid urban population growth continues to increase pressure on housing demand.
Read the full story at The Citizen Tanzania →