Tanzania's Central Bank Tightens Regulations on Digital Lenders
The Bank of Tanzania (BoT) has published regulations to protect borrowers from abusive digital lending practices of tier-2 microfinance institutions, as well as improving transparency in the sector. A microfinance [...]
Three Companies Win US-Tanzania Tech Challenge
JamiiForums, Smart Foundry Ltd, and The Launchpad Tanzania, have won the US-Tanzania Tech Challenge, the United States Embassy in Tanzania said in a statement on Friday. Partnering like we are [...]
Sandbox Regulations to Ease Tanzania's Fintech Penetration Approved
The Bank of Tanzania has been lauded for its commitment to reduce regulatory burdens for financial startups in the country, after introducing a sandbox regulation framework for pilot innovators. These [...]Tanzania Steps Up Dollar Control to Save Local Currency
In its latest move to limit transactions using the dollar, the Tanzanian government has ordered all visiting tourists to pay fees and park charges using the Tanzania shilling. All tourism [...]NALA Raises US$ 40mn in Series A Funding
Tanzania-based fintech, NALA, has raised about US$ 40 million in its Series A round as the remittances platform seeks to establish a new B2B product. This $40 million funding round [...]Car General Posts Net loss of KSh 274 million on Forex Losses
Car General Kenya Plc, a listed dealer in power generation, automotive, construction and industrial engineering products in East Africa, has posted a net loss of KSh 274 million in [...]
Liberty Kenya Holdings Plc Posts Net Profit of KSh 671.9 Million
Liberty Kenya Group recorded net earnings of KSh 671.9 Million for the financial year ended 31st December 2023 compared to KSh 267.7 Million over the same period in 2022. Liberty [...]Tanzania Hikes Interest Rate to 6 Percent
The Bank of Tanzania (BoT) has raised its central bank rate (CBR) from 5.5 percent to 6 percent, a move its central bank said is aimed at containing the lingering [...]East African Cables Sells Majority Stake in Tanzanian Unit
East African Cables PLC has sold a 51% stake in its Tanzanian subsidiary to Msufini (T) Limited as it embarks on a turnaround strategy. In mid-2023, EA Cables obtained a [...]NCBA Group Plc to Issue a Fat KSh 471.8 Million Dividend Cheque to Shareholders
NCBA Group has declared an interim dividend of KSh 1.75 per share, or payment of a total of KSh 471.8 Million to its shareholders, making it the second listed lender [...]ATIDI Insures EUR 300 Million Loan for Tanzania’s Projects
African Trade and Investment Development Insurance(ATIDI) has insured a EUR300 million loan facility issued by Deutsche Bank AG to the Government of Tanzania.The facility will finance several infrastructure projects included [...]EABL Records a 21% fall in Net Profit to KSh 12 B as Taxes Bite Hard
East African Breweries Limited(EABL) posted a 21% decline in its net profit for the full year ended 30th June 2023 to KSh 12.32 billion. The listed brewer also cut is [...]
