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49pc NMB shares sold for $29m
2006-02-16 09:14:02
By Juma Thomas, Dodoma
The government has sold 49 per cent of its shares in the National Microfinance Bank to private investors under Rabobank Nederland, the Parliament was told in Dodoma yesterday.
Deputy Minister for Finance, Mustafa Mkulo told the House that the shares were sold at US$29.4 million (33bn/-), and added that the government and some local investors hold 65.1 per cent shares of the Bank.
Mkulo was answering a question from William Shelukindo (Bumbuli, CCM) who had wanted to know the distribution of shares of the Bank and the amount the government had realised by selling its shares.
He said the government still holds 51 per cent of the shares while Rabobank holds 34.9 per cent.
NICO holds 6.6 per cent, Exim Bank 5.8 per cent and TCCIA Investment Company Limited 1.7 per cent.
The Minister said until December last year NMB was leading for having the biggest capital, totaling 61bn/-.
He said NMB would open five new branches in Dar es Salaam this year to enable its customers get the service easily.
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