Tanzania Hatua Bond Oversubscribed by 806%, TZS 100 Billion Accepted
I&M Bank's Tanzania Hatua Bond saw an 806% oversubscription, leading the bank to accept TZS 100 billion in funding. The proceeds are intended to support corporate and retail lending as well as digital infrastructure development.
Why it matters
High demand for this bond indicates strong investor confidence in the Tanzanian financial sector and the bank's growth strategy.
I&M Bank’s Tanzania Hatua Bond oversubscription reached 806.92%, with TZS 100 billion of the TZS 161.38 billion in applications accepted.
The bank disclosed the results in a public notice dated 25 September 2026, following a subscription period from 3 August to 4 September for the first tranche of its five-year multicurrency medium-term note programme.
The initial public offer was TZS 20 billion, while the full programme approved by the Capital Markets and Securities Authority (CMSA) was TZS 100 billion; applications of TZS 161,383,181,343 therefore represented 806.92% of the initial offer.
For each application, the bank allotted the first TZS 200 million in full and 43.09% of any amount requested above TZS 200 million.
The bank said it would refund TZS 61,383,181,343 in respect of oversubscribed applications by direct bank transfer on 28 September 2026.
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