/ HDFC Acquires 15% Stake In Tanzania Based First Housing Finance Co ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 2 June 2017

Housing Development Finance Corporation (HDFC) on Thursday’s after-market hours announced that it has acquired 15% of the equity share of First Housing Finance (Tanzania) Limited.

HDFC has acquired 32,700,000 equity shares, representing 15% of the total share capital. The said acquisition will cost USD 1.5 million. In the BSE filling, HDFC also added that it had received prior approval for the said acquisition.

First Housing Finance (Tanzania) Limited is the first housing finance company to be set up in Tanzania. Mortgage finance penetration in Tanzania is very low.

HDFC and its wholly-owned subsidiaries, together with International Finance Corporation have in the past, participated in the development of nascent housing finance markets in Asia and Africa.

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