PROJECT

Projects

Summary of Investment Information

Project Number

33719

Company Name

FIRST HOUSING FINANCE (TANZANIA) LIMITED

Date SPI Disclosed

Oct 9, 2014

Country

Tanzania

Region

Africa

Projected Board Date

Dec 12, 2014

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Jun 1, 2017

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Jan 8, 2015
Signed : Mar 3, 2017
Invested : May 30, 2017

Sector

Primary Mortgage Institutions

Project Description

M Mortgage Finance (Tanzania) Limited (M Mortgages or the Company) is a greenfield mortgage finance bank being setup in Tanzania in Partnership with Bank M Tanzania Limited, a local Tanzania Bank, Housing Development Finance Corporation Limited India (HDFC), the largest housing finance company in Asia and prominent local investors, namely Sanjay Suchak and the Karimjee family of Tanzania.

M Mortgages will be the first specialized mortgage lender in Tanzania.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation