Tanzania, May 15 -- Dar es Salaam. Uganda has stepped up efforts to attract Tanzanian investors into its inaugural sovereign Sukuk issuance worth €405 million (about Sh1.2 trillion).

The bond is part of efforts to seek alternative financing for its Standard Gauge Railway (SGR) project while deepening regional capital market integration.

The Shari'ah-compliant bond, which includes a €45 million greenshoe option, will partly finance the construction of the 272-kilometre SGR line linking Malaba on the Kenyan border to Kampala.

Uganda's Deputy Secretary to the Treasury, Mr Patrick Ocailap, pitched the investment opportunity to Tanzanian investors and secondary market dealers during a Non-Deal Roadshow meeting held at the Dar es...