Josephine Christopher

Nov 16, 2024 | thecitizen.co.tz | Josephine Christopher

Dar es Salaam. The amount of foreign currency deposits in commercial banks rose during the past year as companies sought to shield themselves against exchange risks. The Bank of Tanzania (BoT) says in its October 2024 report that private sector deposits in banks amounted to Sh38.75 trillion (about 20 percent of gross domestic product) at the end of August 2024, compared to Sh37.95 trillion at the end of June 2024.

Nov 12, 2024 | thecitizen.co.tz | Josephine Christopher

Dar es Salaam. A big chunk of money borrowed as personal loans is spent on the construction of houses and other structures, according to new data. Personal loans remain the largest component of credit to the private sector, accounting for 36.4 percent, followed by trade and agriculture at 12.8 percent and 11.8 percent, respectively.

Nov 5, 2024 | mwananchi.co.tz | Josephine Christopher

Dar es Salaam. Tanzania imepiga hatua kubwa katika kuboresha uwezo wake wa kukopesheka. Hii ni kutokana na viwango vipya vya ukadiriaji wa mikopo vilivyotolewa na Moody's Investors Service na Fitch Ratings, kuonyesha mafanikio ya kiuchumi katika Ukanda wa Kusini mwa Jangwa la Sahara. Kwa mujibu wa wataalamu hao, viwango hivyo vinaonyesha usimamizi mzuri wa fedha wa nchi pamoja na ukuaji thabiti wa uchumi.

Nov 5, 2024 | thecitizen.co.tz | Josephine Christopher

Dar es Salaam. Tanzania has made significant strides in enhancing its creditworthiness, with recent credit ratings by Moody’s Investors Service and Fitch Ratings placing the country among the top economic performers in sub-Saharan Africa. Experts are of the view that these ratings reflect the country’s strong fiscal management, stable economic growth and resilience to market shocks.

Nov 4, 2024 | thecitizen.co.tz | Josephine Christopher

Dar es Salaam. While the Bank of Tanzania (BoT) has not yet approved the use of cryptocurrencies or a central bank digital currency (CBDC), key players in the banking industry have expressed their readiness to adopt these technologies as soon as the regulatory framework is in place. Some banks told The Citizen that they were investing and making strategic preparations as the regulatory framework for digital currencies is being developed.