Dar to seek sovereign debt rating

The Dar es Salaam-Morogoro road. Financing development projects through sovereign bond issues will assist Tanzania expand its fiscal space. Photo/FILE

By STAFF WRITER

Tanzania will soon seek a sovereign debt rating to enable it issue a sovereign bond in the international marketplace.

The Tanzanian government appears convinced that borrowing money from international markets through a sovereign bond is a better way of raising money than having to resort to heavy domestic borrowing.

Two months ago, Finance Minister Mustafa Mkulo presented to the National Assembly a budget that did not factor in domestic borrowing. More...

[SOURCE: The EastAfrican]

BoT to issue new rules to check MFIs

Bank of Tanzania headquarters in Dar es Salaam. Some lenders charge up to 200 per cent of the principal amount. Photo/FILE

By WILFRED EDWIN

The Bank of Tanzania is formulating a mechanism to regulate non-banking microfinance institutions, Bank Governor Prof Benno Ndulu has said.

The new regulations are aimed at checking on the mushrooming of such institutions that exploit investors, particularly the ignorant lot.

The move by BoT comes in the wake of growing public concern over a number of local microfinance companies offering “easy loans” at excessively high rates. More...


[SOURCE: The EastAfrican]

Probe interest rates, say MPs

By Bernard James, Dodoma

Members of Parliament have once again hit out at private money lending companies over high interest rates and urged investigations by the Bank of Tanzania (BoT).

Mbozi West legislator Godfrey Nzambi, who recently took a swipe at Bayport Financial Services, yesterday accused the mushrooming money lenders of milking civil servants. More...


[SOURCE: THE CITIZEN]

---

It is nice to see our MPs take a stance on soaring interest rates. What are your views on MP Nzambi's comments? Do you agree with BoT probing private Banks and Non-Banking Financial Institutions, or do you think the market should be let free to regulate itself? In your opinion, how can Tanzania control these rising interest rates? What role should the Government; BoT; Private Banks; NBFIs play?

Experts call for issuance of long-term loans

By Bethuel Kinyori

The Government has been challenged to help create the environment for farmers and industrialists to access long-term loans to develop their projects. The call was made in Dar es Salaam last week by the head of a local social and economic research think tank (ESRF) in an exclusive interview with this paper.

More...

[SOURCE: THE CITIZEN]