Hurdles as Dar, Tanga plan to float $426m municipal bonds
A section of the Dar es Salaam coastline. Dar and another coastal city, Tanga, plan to float municipal bonds this year. PHOTO | FILE
Dar es Salaam and Tanga municipalities are seeking to raise more than Tsh720 billion ($426 million) from municipal bonds for investment in infrastructure and real estate.
Dar targets more than Tsh200 billion ($118 million) to invest in improvement of water supply and construction of roads, schools and health facilities, which are dilapidated, Tanga’s Tsh20 billion ($11.8 million) will be used to build its biggest market and a bus station. But the two coastal cities face hurdles to their plans.
