Dar gets new credit bureau

Dun and Bradstreet Credit bureau Tanzania limited the first licensed credit bureau yesterday met with bank executives at a consultative workshop in Dar es Salaam.

The workshop which ushers in the official opening of Dun and Bradstreet credit bureau’s offices in Tanzania is aimed at ‘breaking the ice’ between the credit bureau, banks and financial institutions many of whom have played a key role in ensuring that Tanzanian gets a bureau that is respected worldwide.

Addressing reporters in Dar es Salaam, the CEO of Dun and Bradstreet credit bureau Tanzania limited, Mr. Miguel Llenas said the aim was to build most comprehensive credit bureau that will play a role in boosting Tanzania’s economy.

“The workshop will focus specifically on how we intend to help bank and financial institutions in Tanzania to improve the assessment of loan applicants with a view to ensuring that they make only the most informed business decision that reduces their NPL ratio and creates an easily identifiable pool of credit-worthy customers” said Mr Llenas.

 Speaking more about the planned workshop, General Manager of Dun and Bradstreet Credit Bureau Adebowale Atobatele said, the workshop will simply be an opportunity for them to meet with and listen to their partners in Tanzania.

“We consider the banks and financial institutions and to be our partners, we exist to serve them and it is important for us to understand the specific challenges that they encounter in their business of creating risk asset” said Atobatele.

Mr. Atobatele adds that they believe contribution from the banks and financial institutions will help them to develop a solution that is in the best interest of Tanzanians banks, Tanzania’s financial sector, Tanzanians economy and Tanzanians as a whole.

For long, banks and financial institutions in Tanzania have had to struggle with high ratios of non-performing loans on their books, most of which they have had to make provision for thus recording lower operational profits. However, with the introduction of the credit bureau system, banks, financial institutions and consumers’ can look to brighter days ahead. 

The Dar es Salaam office comes after the successful inauguration of operations of the Ghana Bureau where by now the market is flourishing.
Source: The Daily News, reported by Hilda Mhagama in Dar es Salaam
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