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Tanzania to have new policy by March to ease access to credit

Tanzania's banking regulator has, however, said that this will not be a direct rate cap like the one Kenya introduced in September 2016. FOTOSEARCH

By  Allan Olingo

Nation Media Group

Tanzania will in the next three months introduce a monetary policy to determine interest rates on loans in a bid to lower lending costs.

Coming just a year after Kenya introduced a rate cap, which banks now being blame for the dip in credit growth, Tanzania’s move is forecast to improve private sector lending and reduce bad loans.

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