The Tanzanian government recently sold 49% of its shares in the National Microfinance Bank (NMB) to a consortium led by Rabobank of the Netherlands for $29.4 million. Rabobank is a financial institution with numerous global branches, and total assets in 2004 at approximately å¥475.09 billion. The sale initiates NMB’s privatization while the future sale of 21% of the remaining 51% of the government’s shares in NMB will be sold to the Tanzanian public.
Since its partial acquisition, Rabobank has expressed interest in providing management services and training and technical assistance to NMB. It also plans on broadening access and services to the poor, especially in rural areas. The NMB, which has countrywide branches, primarily serves the underprivileged.
Additional Resources
1) Consultative Group to Assist the Poor (CGAP): “Microfinance Capital Markets Update” is the best source for monthly updates on debt and equity deals in microfinance.
2) “Government Approves Sale of 49% Stake in NMB
to a Consortium Led by Rabobank Nederland.”
3) “First Phase of NMB Divestiture Concluded.”
4) “Key Figures.”
5) “Rabobank around the World: Offices.”
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