Arise Acquires Rabobank Shares In NMB Bank Plc

Investment and development company Arise has acquired previously Rabobank owned 34.9% shareholding of 174.5 Mn shares in NMB Bank Plc.

Arise was jointly established by FMO, Norfund and Rabobank in 2016 to partner with local financial institutions and improve the financial system in Africa. NMB Bank Plc, a commercial bank listed on the Dar Es Salaam stock exchange, is the largest bank in Tanzania. The other major shareholder is the Government of Tanzania with 31.8% shares.