Tanzania embarked on financial liberalization in 1992 in order to sustain its economic growth. This has been done by mobilizing financial resources, increasing competition in the financial market and enhancing quality and efficiency in credit allocation. As a result, the sector has been booming, particularly during the last few years.
As a result of the liberalization, the banking sector in Tanzania has been booming, particularly over the last few years and new merchant banks, commercial banks, bureaus de change, credit bureaus and other financial institutions have entered the market.
With a total of 56 licensed banks and other non-banking financial institutions, which are not allowed to open current accounts, the market is characterized by a few big players and several small banks, and increasing competition.
The insurance penetration in Tanzania, i.e. the contribution of insurance to National Gross Domestic Product remains very limited, paving the way for plenty of room for further growth.
The Tanzania insurance sector is growing steadily, with 30 insurance companies and 112 insurance brokers currently active in the market.
The securities market in Tanzania also emerged in the 1990s as a result of the government policy of liberalizing the financial sector.
Within such framework, the Capital Markets and Securities Authority (CMSA) was established in 1994 and the Dar es Salaam Stock Exchange (DSE) was incorporated.
To date, there are 21 companies listed at the DSE, for a total market capitalization of TZS 20,186.48 billion, (December 18th, 2015).
The Dar es Salaam Stock Exchange (DSE) closed on Friday, January 6th, 2016 with a total market capitalization of TZS18,656.60, compared to TZS19,124.30 on Friday, December 30th, 2016 (-2.45%).
TanzaniaInvest had the pleasure of interviewing Stephen Lokonyo, Chief Executive Officer of Britam Tanzania, part of Britam (NSE: BRIT), a diversified financial services group with…
On behalf of Azania Bank Limited, the Public Service Recruitment Secretariat of Tanzania invites qualified Tanzanians to fill the vacant post of Managing Director.
The Dar es Salaam Stock Exchange (DSE) closed on Friday, December 30th, 2016 with a total market capitalization of TZS19,124.30, compared to TZS19,581.60 on Friday, December 23rd, 2016 (-2.34%).
The Bank of Tanzania (BOT) Quarterly Economic Bulletin for September 2016 shows that the country realized a budgetary surplus of TZS326.2b in Q3 2016.
The Dar es Salaam Stock Exchange (DSE) closed on Friday, December 23rd, 2016 with a total market capitalization of TZS19,580.60, compared to TZS19,361.10 on Friday, December 16th, 2016 (+1.14%).
TanzaniaInvest had the pleasure of interviewing Gift Shoko, CEO of Commercial Bank of Africa (CBA) Tanzania.
The Tanzanian mortgage market recorded an overall growth rate of 13% in January-September 2016.
TanzaniaInvest had the pleasure of interviewing Ali Mufuruki, Founder, CEO and chairman of Infotech Investment Group.