Bank of Tanzania Launches Bold Measures to Tame Predatory Lending and Boost Financial Inclusion
Dar es Salaam, Tanzania —In a decisive move aimed at protecting low-income borrowers and fostering a more inclusive financial sector, the Bank of Tanzania (BoT) has unveiled a robust strategy to rein in harmful lending practices among the country’s microfinance institutions. Speaking today in Dar es Salaam, BoT Governor Emanuel Tutuba announced that all second-tier microfinance institutions—numbering over 2,600—are…