Tanzania has over 40 banks operating in the market. However, just two institutions account for more than half of the industry’s annual profits, raising concerns about a potential duopoly that could stifle growth for other operators and deepen market imbalances.
In an exclusive interview with The Citizen, hosted by Mwananchi Communications Limited Executive Editor Mpoki Thomson, Bank of Tanzania Governor, Emmanuel Tutuba, explains the factors behind this market concentration and the macroprudential measures in place to safeguard the banking sector. Excerpts:
