Fri. Aug 12th, 2022

The company has an existing credit bureau in Tanzania meaning the scorecard can be deployed there with “minimal” investment, he says.

According to Tanzania’s chamber of commerce, 95% of the country’s businesses are small and medium enterprises (SMEs), contributing 35% of the GDP. Despite this, the SME Finance Forum says 70% of the country’s SMEs have no access to formal financial services. Tanzania’s finance ministry says banks often require the SMEs to have collateral worth between 125% and 150% of the loan sought.

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By Joy

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