In a significant development, CRDB Bank has been granted official approval to launch a groundbreaking Green Bond known as the 'Kijani Bondi.' This remarkable achievement not only marks CRDB Bank as a pioneer in Tanzania but also positions it as a trailblazer in Sub-Saharan Africa's financial landscape.
The Capital Markets and Securities Authority (CMSA) has given the green light for CRDB Bank to issue the 'Kijani Bondi,' a 5-year Green Bond with an impressive valuation of 300 million US dollars. This substantial financial instrument is equivalent to a staggering 780 billion Tanzanian Shillings, as confirmed by sources within the bank.
The prestigious approval ceremony took place at the elegant Johari Rotana Hotel in Dar es Salaam. During this momentous event, the CEO of CMSA, Nicodemus Mkama, formally presented the authorization to the CRDB Bank's CEO, Abdulmajid Nsekela. The occasion was graced by the presence of Dr. Ally Laay, the Chairman of the Board of Directors at CRDB Bank.
This event not only solidifies CRDB Bank's position as a leading financial institution in Tanzania but also establishes its dominance as the foremost issuer of a green bond in the region. The 'Kijani Bondi' is not only the first of its kind in the country but also holds the distinction of being the largest green bond ever issued south of the Sahara Desert.
The 'Kijani Bondi' holds the promise of opening up avenues for funding environmentally conscious projects. With its launch, CRDB Bank is poised to contribute significantly to the realization of the United Nations Sustainable Development Goals (SDGs). By directing funds towards projects that promote sustainability, the bank is actively participating in the global agenda to combat climate change and ensure a more environmentally responsible future.
The approval of the 'Kijani Bondi' underscores CRDB Bank's commitment to aligning financial initiatives with environmental stewardship. As the first green bond of its kind in Tanzania and the largest in Sub-Saharan Africa, this achievement cements CRDB Bank's position as an industry leader and a driving force behind sustainable financial practices.
The CRDB bank has posted this great achievement on their instagram page as shown here below.
