Tanzania, July 25 -- London. Tanzania has reached a major milestone in international capital markets after its first offshore bond denominated in Tanzanian shillings was listed on the London Stock Exchange.

The $100 million (about Sh262.5 billion) bond was issued by the International Finance Corporation (IFC), a member of the World Bank Group, and marks the first offshore bond denominated in Tanzanian shillings to be listed on the exchange.

The proceeds have been lent to NMB Bank Plc to expand financing for micro, small and medium-sized enterprises (MSMEs).

Twenty percent of the funds, equivalent to about Sh52.5 billion, has been earmarked to support women-owned businesses.

Speaking after ringing the ceremonial bell to mark the bond's...