PUBLIC ANNOUCEMENT

Oscar Mgaya elected to join the Executive Committee of

the IUHF Tanzania Mortgage Refinance Company Limited (TMRC) Chief Executive Officer Mr Oscar Mgaya has been elected to be a member of the executive committee of the International Union for Housing Finance (IUHF). This was announced on 2nd September 2015 in Rio de Janeiro, Brazil during the 29th IUHF World Congress. Mr Mgaya is one of two members from Africa on the 15 members executive committee. The other executive committee member from the continent is Mr Cas Coovadia from South Africa.

Mr Mgaya is also a board member and secretary to the board of the African Union for Housing Finance (AUHF). He has been serving the AUHF board since September 2012. Mr Mgaya has over 20 years of commercial real estate and financial services experience. Prior to joining TMRC, Mr Mgaya was Director of Real Estate for Limited Brands in the United States. He previously also worked for JP Morgan Chase, General Electric Company and Merrill Lynch. He received both his Bachelor of Arts degree in Finance & Management, as well as his Masters of Arts degree in Management from Walsh University in the United States.

TMRC is a specialized private sector financial Institution that provides long-term funding to financial institutions for the purposes of mortgage lending. It has the objective of supporting financial institutions to do mortgage lending by refinancing Primary Mortgage Lenders' (PMLs') mortgage portfolios. This type

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of lending is also known as wholesale or secondary market lending. TMRC is neither taking deposits nor lending directly to individuals. It refinances mortgage loan portfolios rather than extending mortgage loans to individual and caters to banks rather than individual borrowers.

Established in 1914, the International Union for Housing Finance (IUHF) is a worldwide networking organisation that enables its members to keep up-to-date with the latest developments in housing finance from around the world and to learn from each other’s experiences. The Union currently comprises 108 members covering 46 different countries.

The African Union for Housing Finance (AUHF) is a member-based association of mortgage banks, building societies, housing corporations and

African Union for Housing Finance (AUHF) is a member-based association of mortgage banks, building societies, housing corporations and other organisations involved in the mobilisation of funds for shelter and housing on the African continent. The AUHF was established in 1984. The AUHF currently has 47 Members from 17 countries: Botswana, Ghana, Kenya, Mauritius, Namibia, Nigeria, Rwanda, Seychelles, South Africa, Swaziland, Tanzania, The Gambia, Uganda, United Kingdom, United States of America, Zambia and Zimbabwe.

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About AUHF