Capital Market and Securities Authority

This is to inform the general public that the Capital Markets and Securities Authority

(CMSA), in discharging its responsibilities conferred upon it under the Capital

Markets and Securities Act, Cap 79 of the Laws of Tanzania, has approved the

Information Memorandum of CRDB Bank Plc for issuance of Multicurrency Medium

Term Note Programme (MTN) worth TZS 780 billion equivalent of USD 300,000,000.

The CRDB Bank Plc MTN becomes the first bond with green, social and sustainability

components to be issued in Tanzania and the largest to be issued in Sub Saharan

Africa, by a corporate listed on a stock exchange. The objective of the MTN is to

raise funds that will be used to finance eligible Green, Social and Sustainability

projects pursuant to the bank’s sustainability bond framework and in line with the

principles and recommendations of the International Capital Markets Association

(ICMA).

The approval of the MTN by the CMSA follows the bank meeting the eligibility

requirements for issuance of Green, Social and Sustainability Corporate Bond

including compliance with the Capital Markets and Securities (Guidelines for

issuance of Corporate Bonds, Municipal Bonds and Commercial Papers), 2019; as

well as putting in place Green, Social and Sustainability Bond Framework aligned

with the principles and recommendations issued by ICMA. The adequacy of the

bank’s Green, Social and Sustainability Bond Framework has been verified by

Sustainalytics, an internationally recognized Second Party Opinion (SPO) provider.

CRDB Bank Plc is listed on the Dar es Salaam Stock Exchange (DSE) and is one of

the largest commercial banks in Tanzania that raised funds from the public by selling

shares by way of Initial Public Offer (IPO). The bank is credit-rated B1 with stable

outlook by Moody’s Credit Rating Agency and is also accredited by the Green

Climate Fund (“GCF”) as Direct Access Accredited Entity (DAE).

Issuance of the CRDB Bank Plc green, social and sustainable MTN is a milestone in the implementation of the 10 years Financial Sector Development Master Plan (FY 2020/21 - 2019/2030) approved by the Government that advocates for development of innovative demand driven capital market products to facilitate provision of alternative long-term finance in the public and private sectors. In addition, the MTN will facilitate mobilisation of resources to finance multiple large-scale climate-change adaptation and mitigation projects with high impact to the social and economic development in Tanzania. The bond will be marketed internationally and issued in multiple currencies thereby contributing to attracting both local and foreign investors with ultimate objective of contribution in addressing shortage of foreign currency in the country.

The approval by CMSA for issuance of the MTN is a result of the conducive policy, regulatory and operational environment provided and supported by the Sixth Phase Government under the noble leadership of Her Excellency Dr. Samia Suluhu Hassan, President of the United Republic of Tanzania.

The Government through Capital Markets and Securities Authority will continue to provide conducive and supportive environment for institutions in the public and private sectors to raise funds through capital markets for financing business and development projects through sale of shares (equity financing); infrastructure bonds; blue bonds; green bonds; and subnational bonds.

Issued by:

CPA. Nicodemus Mkama,

Chief Executive Officer,

Capital Markets and Securities Authority,

6th Floor, Garden Avenue Tower, Ohio and Garden Avenue,

P. O. BOX 75713 Dar es Salaam, Tanzania.

Tel: +255 22 2114959 / 61, Fax: +255 22 2113846,

Email: info@cmsa.go.tz, Website: www.cmsa.go.tz