Twiga Bancorp unveils new products

ANNE ROBI
Daily News; Tuesday,September 16, 2008 @00:04
Twiga Bancorp Limited yesterday launched two new products aimed at helping parents and guardians to save money for children's future education and other activities. Speaking at the launching occasion in Dar es Salaam yesterday, the General Manager, Hussein Mbulilo, named the products as Twiga Kids Account and Holiday Account. More...


[SOURCE: THE GUARDIAN]

Lender launches clients' contest

DAILY NEWS Reporter
Daily News; Tuesday,September 16, 2008 @00:04
Bayport Financial Service Tanzania has launched a competition for its clients aimed to encourage them on best utilisation of credit. The Bayport Chief Operations Officer, Mr Etienne Coetzer, said in Dar es Salaam yesterday that the competition entailed the selection of 10 clients who have utilized well credits extended to them by investing in business start-ups, education and farming. More...


[SOURCE: DAILY NEWS]

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]

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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?