Dar es Salaam. A new era of financial transparency and opportunity has arrived in Tanzania with the launch of a groundbreaking joint venture between ICRA Rating Agency and Creditinfo Tanzania.
This partnership marks the official introduction of credit rating services to Tanzanian institutions, setting the stage for enhanced competitiveness and access to finance.
The Bank of Tanzania has granted ICRA the prestigious title of the first locally based credit rating agency, recognizing its commitment to providing African-centered solutions. Additionally, Creditinfo Tanzania has been officially licensed and operationalized as the first Credit Reference Bureau in the country.
"This partnership signifies a crucial moment for Tanzania's financial landscape," declared Zeeshan Khan, Director-General Manager of ICRA Rating Agency.
"By providing credit ratings tailored to the needs of Tanzanian institutions, we aim to unlock greater opportunities and empower them to compete on a global scale."
Edwin Urasa, CEO of CreditInfo Tanzania, echoed this sentiment, emphasizing the potential for inclusive financial growth. "This venture will revolutionize credit assessment in Tanzania, paving the way for financial health and empowerment across the nation," he stated.
With a global presence and over two decades of experience, Creditinfo is a leader in credit information and risk management solutions.
Their expertise, combined with ICRA's regional understanding, promises to deliver cutting-edge services to Tanzanian institutions.
The launch of the joint venture marks a significant leap forward for Tanzania's financial sector. With access to reliable credit ratings and improved risk assessment tools, Tanzanian institutions can now attract better investments, secure favorable loan terms, and ultimately contribute to the nation's economic prosperity.
