• About Us
  • Contact
Friday, March 31, 2023
No Result
View All Result
NEWSLETTER
The Business Wiz
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
No Result
View All Result
The Business Wiz
No Result
View All Result
Home Sectors Financial Services

Private sector credit up 22.9 pct in Q4, 2022 on recovery of various economic activities

by Editor
16/02/2023
in Financial Services
0
Private sector credit up 22.9 pct in Q4, 2022 on recovery of various economic activities
Share on FacebookShare on Twitter

Credit to Tanzania’s private sector sustained strong growth in the fourth quarter last year averaging 22.9 percent compared with 7.8 percent in the corresponding quarter in 2021 according to the Bank of Tanzania (BoT) Economic Bulletin for the quarter ending December, 2022.

The result was mainly attributed to recovery of various economic activities from the effects of COVID-19 pandemic coupled with monetary and fiscal measures carried out to mitigate adverse effects of external economic shocks.

According to the report released yesterday, all major economic activities recorded strong lending during the quarter, except hotels and restaurants.

“Agricultural activities continued to register the highest growth, responding to monetary policy measures rolled out by the Bank to support cost-effective financing for agriculture and agribusiness activities,” the report said.

A farmer watering vegetables. Agricultural activities continued to register the highest growth, responding to monetary policy measures rolled out by the Bank to support cost-effective financing for agriculture and agribusiness activities. PHOTO / COURTESY.

Personal loans continued to hold the largest share of outstanding credit,followed by trade, manufacturing and  agriculture activities

Interest Rates

Interest rates charged on loans by banks remained almost unchanged averaging 16.07 percent during the quarter compared with 16.47 percent in the corresponding quarter in 2021 with negotiated lending rates stabilizing at around 14 percent.

“Interest rates offered by banks on deposits recorded an increase with overall time deposit rates averaging 7.18 percent, from 6.62 percent in the quarter ending December 2021,” the report said.

Negotiated deposit rates eased to an average of 9.30 percent, from 9.77 percent

Tags: #LatestBusinessNews#LatestTanzaniaBusinessNews#TanzaniaBusinessNews
Editor

Editor

Next Post
Lifezone to advance Tanzania project following further $50m investment by BHP

Lifezone to advance Tanzania project following further $50m investment by BHP

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Exchange Rate

Exchange Rate USD: Fri, 31 Mar.

Recommended

IMF approves US$1.05 billion Credit Facility for Tanzania, plans to release $151.7 million immediately

IMF approves US$1.05 billion Credit Facility for Tanzania, plans to release $151.7 million immediately

8 months ago
Dollar slips as banks rescue makes room for relief rally

Dollar slips as banks rescue makes room for relief rally

2 weeks ago

Popular News

    News

    Get latest news from us.


    SUBSCRIBE

    Category

    • Agriculture
    • Aviation
    • Banking
    • Commodities
    • Construction
    • CSR
    • Currency
    • Economic
    • Energy
    • Featured News
    • Financial Services
    • Information Technology
    • Infrastructure
    • Investment
    • Jobs
    • Manufacturing
    • Markets
    • Mining
    • Others
    • Q&A Interviews
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation

    About us

    The Business Wiz (TBW) is Tanzania’s premier one-stop online platform providing in-depth, accurate and timely business news, analysis, commentary and online business information portals and research.

    • About Us
    • Contact

    © 2022 The Business Wiz

    No Result
    View All Result
    • Home
    • Featured News
    • Economic
      • Currency
    • Investment
    • Markets
      • Stock Market
    • Sectors
      • Agriculture
      • Commodities
        • Markets
      • Construction
      • Energy
      • Financial Services
      • Information Technology
      • Infrastructure
      • Manufacturing
      • Markets
      • Mining
      • Real estate
      • Telecomunication
      • Tourism
      • Transportation

    © 2022 The Business Wiz

    en English
    ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanit Italianru Russianes Spanishsw Swahili