FSD Africa Impact Ground-breaking Jasiri Gender Bond in Tanzania Maggy Dress-Up's Growth Through Strategic Financing

This case study describes the impact of the Jasiri Gender Bond in Tanzania, focusing on its role in empowering women entrepreneurs and the specific growth of Maggy Dress-Up, a plus-size clothing business.

• Launched in February 2022, the Jasiri Gender Bond is the first Sub-Saharan Bond to be listed on the Luxembourg Green Exchange. It mobilised USD 32 million with an oversubscription of 197% and an annual return of 8.5%. The investor base consists of 69% Tanzanian investors, 31% foreign investors, 52% female investors, and 48% male investors. Notably, 99% of the investors are retail investors, contrasting with the corporate bond market's typical reliance on institutional investors.
• The Jasiri Gender Bond supports women-led businesses across various sectors. In agriculture, where women make up more than 65% of the workforce, financing has strengthened the sector. The bond has also aided traditional female-led businesses in education and retail, and helped women enter male-dominated fields such as energy, mining, and spare parts, resulting in increased trade, expanded inventory, and higher employment.
• Gudila Kimati used a loan from NMB Bank, linked to the Jasiri Bond, to grow her plus-size clothing business, Maggy Dress-Up. The financing allowed her to overcome a limited product range by diversifying her offerings to include handbags, shoes, and children's clothing. This strategic financing enabled her to expand to two shops and increase her customer base and sales.

APA

FSD Africa (2023). FSD Africa Impact Ground-breaking Jasiri Gender Bond in Tanzania Maggy Dress-Up's Growth Through Strategic Financing. https://fsdafrica.org/wp-content/uploads/2025/05/FSD-Africa-Jasiri-gender-bond-Maggy-Dress-Up-23.02.24.pdf

Chicago

FSD Africa. FSD Africa Impact Ground-breaking Jasiri Gender Bond in Tanzania Maggy Dress-Up's Growth Through Strategic Financing. 2023. https://fsdafrica.org/wp-content/uploads/2025/05/FSD-Africa-Jasiri-gender-bond-Maggy-Dress-Up-23.02.24.pdf.

Wikipedia

{{cite report |author=FSD Africa |title=FSD Africa Impact Ground-breaking Jasiri Gender Bond in Tanzania Maggy Dress-Up's Growth Through Strategic Financing |date=March 2023 |url=https://fsdafrica.org/wp-content/uploads/2025/05/FSD-Africa-Jasiri-gender-bond-Maggy-Dress-Up-23.02.24.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{fsdafrica2023fsd, author = {{FSD Africa}}, title = {{FSD Africa Impact Ground-breaking Jasiri Gender Bond in Tanzania Maggy Dress-Up's Growth Through Strategic Financing}}, institution = {FSD Africa}, year = {2023}, month = mar, url = {https://fsdafrica.org/wp-content/uploads/2025/05/FSD-Africa-Jasiri-gender-bond-Maggy-Dress-Up-23.02.24.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }