Mayzuh Company Limited, which has its subsidiary in Uganda and Zambia submitted a Sukuk Prospectus to Capital Markets and Securities Authority (CMSA) via its Sukuk Special Purpose Vehicle (SPV) called New Venture Sukuk Limited, for the issuance of an Industrial Sukuk  1st July 2025 for evaluation and ultimate approval according to CMSA Act, Sukuk rules and regulations.

The Sukuk proceeds are intended to enable the company to purchase a modern building materials plant from Germany and revolutionalize housing construction in Tanzania because the materials which will be produced will lower building cots and time as well as offering energy efficient houses.

According to Mayzuh Chief Executive Officer, Sheikh Mohamed Issa, "everything is in place. we are just waiting for CMSA. Investors are asking when will the Sukuk be available in the market on daily basis. This shows that Sukuk appetite is high especially after landmark historic Quasi-Sovereign Zanzibar Sukuk which was issued on March this year:, he said.

The Sukuk Lead Arranger is Yusra Sukuk Company Limited, the one which led Zanzibar Sukuk issuance, and its Shari'ah Advisor is Centre for islamic Finance Compliance and Advice (CIFCA) which is Zanzibar Sukuk Shari'ah Advisor as well.

The plant will be built in Pera village Chalinze district in Pwani region industrial area and is expected to produce bulding matirials for up to 15,000-20,000 housing units.