Tanzania, May 7 -- Dar es Salaam. Tanzania Mortgage Refinance Company Limited (TMRC) has launched its second Medium-Term Note Programme (MTN II), aiming to expand access to affordable housing finance amid a growing national housing deficit.

Under the MTN II arrangement, TMRC has been approved to raise Sh100 billion, with the first tranche-dubbed the "TMRC Nyumba Bond"-targeting Sh20 billion. Proceeds from the bond will be used to refinance mortgage loans issued by banks and other financial institutions, with the goal of improving liquidity and enabling lenders to offer more affordable long-term housing loans.

Speaking during the launch yesterday, TMRC Chief Executive Elibariki Ndossy said the bond is a strategic initiative designed to i...