TANZANIA —
Net profits in the banking sector went up more than ten times between 2018 and 2023, while total assets almost doubled. The three largest banks issued corporate bonds in the last two years, creating a channel of alternative financing which complements dwindling deposits growth. During the mentioned period, the CMSA enacted and published a number of regulations that allowed issuance of fresh capital markets products.
The two largest and most famous schemes are Liquid Fund and Bond Fund, which focus exclusively on Treasury bonds and use straight amortization as a valuation method, thus limiting capital loss risk for investors. The scheme was launched on 27th May 2024, dubbed Timiza Fund and managed by Zan Securities, adding investment options for investors eyeing collective investment schemes. Zan Securities is an experienced stock broker, investment advisor and fund manager, licensed by the CMSA more than 14 years ago, and remains among the largest and most influential stock brokerage firms in Tanzania.