Lending pace to private sector in Tanzania was slowest in 12 months

In Summary

The Bank of Tanzania (BoT) report for June indicates that the growth of credit to the private sector slowed from 5.8 percent to 5.1 percent in the year to May 31, 2020 - the lowest since May 2019.

By Josephine Christopher @JocfineQ jchristopher@tz.nationmedia.com

Issuance of loans to the private sector reached its 12-month slowest pace in May this year as Tanzanian banks faced low demand for credit following the outbreak of Covid-19 which severely hit some