Tanzania’s overall financial and insurance activities increased by 9.9 per cent in during Q,2 2022 as compared to 3.8 per cent recorded during the similar quarter last year, the latest Q2, 2022 figures released by the National Bureau of Standards (TBS) indicate.
The growth was attributed to an increase in level of deposit by 10.9 per cent from 25.3trn/- recorded in Q2, 2021 to 28.1trn/- posted in Q,2 2022 being an increase of 20.0 per cent of the level of lending from 20.1trn/- in 2021 to 24.1trn/- in the similar period in 2022.
There was also an increase in growth rate of insurance services by 5.5 percent in Q2, 2022 compared to 2.4 percent recorded during the corresponding Q2, 2021.
