Tanzania Mortgage Refinance Company Limited (TMRC)

The Tanzania Mortgage Refinance Company Limited (TMRC) was established in 2010 under the Housing Finance Project (HFP) as a secondary market institution to support primary mortgage lenders. Its core mission is to develop the mortgage market in Tanzania by providing long-term liquidity to banks and other mortgage lenders, enabling them to offer more affordable and accessible housing loans to the public. TMRC raises funds through various means, including issuing corporate bonds, and then uses these funds to refinance the mortgage portfolios of financial institutions, thereby reducing their liquidity and maturity mismatch risks. The company's shareholders include the Government of Tanzania, commercial banks, and development partners.