NMB returns to IFC for $100m advance
The Tanzanian bank, partly owned by investment company Arise BV, needs funds to revive itself in the wake of Covid.
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▪ NMB returns to IFC for $100m advance
▪ The Tanzanian bank, partly owned by investment company Arise BV, needs funds to revive itself in the wake of Covid.
▪ https://www.africabusinessplus.com/en/815882/nmb-returns-to-ifc-for-100m-advance/
NMB Bank, Tanzania’s second-largest bank, which has struggled to recover since the end of the pandemic, is looking for new money for its working capital. The bank is in talks with the International Finance Corporation (IFC) for a $100m loan. The institution’s board is expected to decide in June.
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