First Housing Finance (Tanzania) Limited, is a mortgage bank in Tanzania. It is licensed by the Bank of Tanzania, the country's central bank and national banking regulator, to engage in mortgage lending. It is Tanzania's first dedicated mortgage lender.[1]
Location
The headquarters of the mortgage lender are located in Dar es Salaam, the business center and largest city in Tanzania.[2]
Overview
The bank is a greenfield start-up that received a banking license from the Bank of Tanzania in July 2017. The establishment of the bank is a joint effort by Azania Bank Limited, a commercial bank in Tanzania together with two deep-pocketed private Tanzanian investors and two international corporations, the International Finance Corporation and India's mortgage conglomerate, Housing Development Finance Corporation Limited.
The new lender plans to start with four mortgage products (a) home purchase loans (b) home improvement loans (c) home expansion mortgages. The financial products will be amortized for up to twenty five years.
Shareholding
The bank's stock is privately owned by the following individuals and corporate entities:[3]
See also
- List of banks in Tanzania
- Bank of Tanzania
- Economy of Tanzania
- Oriental Commercial Bank
External links
References
- Rosemary Mirondo. Bank of Tanzania licenses new mortgage finance company Asokoinsight.com Quoting The Citizen, 11 August 2017, retrieved 25 October 2017^
- Citizen Reporter. Tanzania's First Mortgage Finance Company Starts Operations The Citizen via AllAfrica.com, 22 October 2017, retrieved 25 October 2017^
- Daily News Staff. Tanzania: Dar Gets New Lender in Housing Finance Market Tanzania Daily News via AllAfrica.com, 23 October 2017, retrieved 25 October 2017^