 | |
| Industry | Financial services |
|---|---|
| Founded | 2017 |
| Headquarters | Dar es Salaam, Tanzania |
Key people | Sasa M. Chonza Chief Executive Officer |
| Products | Mortgages |
| Total assets | TSh 21.8 billion (US$10 million) (Q3:2017) |
| Website | www.firsthousing.co.tz |
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. [1]
The headquarters of the mortgage lender are located in Dar es Salaam, the business center and largest city in Tanzania. [2]
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. [3]
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. [3]
The bank's stock is privately owned by the following individuals and corporate entities: [3]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Azania Bank Limited | 40.0 |
| 2 | Housing Development Finance Corporation of India | 15.0 |
| 3 | International Finance Corporation | 15.0 |
| 4 | Sanjay Suchak of Tanzania | 15.0 |
| 5 | Karimjee Family of Tanzania | 15.0 |
| Total | 100.00 | |
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