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Microfinance institutions seek new law to govern operations

Dar es Salaam, March 2014 There is an urgent need to establish a new law to govern the rapidly growing and increasingly vital microfinance subsector in Tanzania, which needs improved regulatory environment. This emerged at a meeting for Tanzania Association of Microfinance Institutions (TAMFI) members organized recently in Dar es Salaam. TAMFi members resolved to […]

Micro Finance Bill Tabled in Parliament

From The CITIZEN Tanzanians and companies offering credits without been licensed by the Bank of Tanzania (BoT) may face up to five years imprisonment and a fine up to Sh100 million or both.   https://www.thecitizen.co.tz/News/-New-Bill-seeks-to-tighten-the-noose-on-loan-sharks/1840340-4847600-whkotvz/index.html

Dar es Salaam, 24th April 2012: Microfinance institutions, which vastly ride on group lending methodology in Tanzania are experiencing increase in credit risks, it has been revealed.

“If this situation is not properly addressed many microfinance institutions will start to be hardly hit with increasing credit risk with fatal consequences,” said Mr Joel Mwakitalu, the Vice Chair of Tanzania Association of Micro Finance Institutions ( TAMFI). It should be noted  that worldwide, the group lending is considered as the best methodology for […]