Wednesday, November 13, 2019

Profitable Tanzanian bank prepares for stock listing

Thirteen years ago, the Danish government bought a 30 per cent stake in a struggling Tanzanian bank, the Cooperative and Rural Development Bank (CRDB).

The stake resulted from an unprecedented aid-financed injection of capital into the crisis-ridden bank, which was crucial for its restructuring.

Today the bank is in good shape, and is about to be listed on the Dar es Salaam Stock Exchange.

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