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.
Location The headquarters of the mortgage lender are located in Dar es Salaam, the business center and largest city in Tanzania.
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:
+ First Housing Company Tanzania Limited Stock OwnershipRank Name of OwnerPercentage Ownership1Azania Bank Limited2Housing Development Finance Corporation of India3International Finance Corporation4 Sanjay Suchak of Tanzania5Karimjee Family of Tanzania Total
See also
List of banks in Tanzania Bank of Tanzania Economy of Tanzania Oriental Commercial Bank
References
External links Website of Bank M Website of Bank of Tanzania Members of Tanzania Bankers Association Including Addresses Bank Profile at The African Union for Housing Finance