Project detail - EXIM BANK (TANZANIA) LIMITED

EXIM BANK (TANZANIA) LIMITED

Status: Approved investment
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Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Exim was founded in 1997 by five local shareholders, making it Tanzania’s largest indigenous bank. In 2007, Exim started its regional expansion by setting up a subsidiary in Comoros, making steps towards its ambition of becoming an East African Bank. This was followed by Djibouti in 2011 and Uganda in 2016, where Exim acquired 58.6% of the shares of former Imperial Bank (Uganda) Limited, investing ~USD 7mln in the subsidiary.

What is our funding objective?

FMO is providing a 5-year USD 35 mln loan to strengthen Exim’s funding base with long-term USD financing and finance to SMEs.

Why do we fund this investment?

Exim Bank is a strong and well-reputed Tier 1 bank in Tanzania and existing client of FMO. FMO is supporting Exim as part of our strategy to grow and deepen customer relationships. Through this facility, FMO will support job creation, in many sectors in Tanzania

What is the Environmental and Social categorization rationale?

This facility has been categorised as Category B in accordance with FMO’s Sustainability Policy. The trade finance activities are deemed to have potential limited adverse environmental and social risks and/or impacts. As part of this facility, Exim Bank will be required to apply the EDFI Exclusion List and national E&S laws and regulations.

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Date Total FMO financing
9/27/2017 USD 70.00 MLN
Website customer/investment
http://www.eximbank-tz.com
Region
Africa
Country
Tanzania, United Republic of
Sector
Financial Institutions
Effective date
6/22/2018
Total FMO financing
USD 10.00 MLN
Funding
FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B