The International Finance Corporation (IFC) and the Bank of Tanzania (BOT) will strengthen credit reporting and expand access to finance for SMEs, including women-owned and youth-led businesses. IFC will provide technical expertise to strengthen credit information systems and explore using alternative data in credit assessments.
“This agreement will help expand access to financial services, strengthen resilience, and create greater economic opportunity for Tanzanians,” said Mary-Jean Moyo, IFC Division Director for Tanzania, Burundi, the Democratic Republic of Congo, Malawi, Zambia, and Zimbabwe. She added: “Tanzania is a strategic market for IFC and a gateway to Eastern Africa. Our expanded leadership presence in Dar es Salaam reflects our long-term commitment to increasing investment, supporting private sector growth, and helping create jobs and prosperity across Tanzania and the region.”
Read more at: https://www.tanzaniainvest.com/finance/banking/ifc-bot-agreement-credit-reporting-sme-financing
