In September 2012, Stanbic Bank Tanzania secured financing worth $3 billion for Mchuchuma Iron Ore and Liganga Coal mining project in the Ludewa district of the newly created region of Njombe in southwestern Tanzania.
In November 2013, the company announced that it had secured loans totaling US$190 million from the International Finance Corporation, Standard Chartered Bank and Stanbic Bank to fund grid expansion and reduce energy losses.
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