Financial Services

The slowing growth rate of credit to the private sector has emerged as a key industry issue in 2016 and 2017. After expanding at a rate in excess of 20% throughout most of 2015, central bank data shows that in January 2016 growth began to decline sharply. By October 2016 credit expansion to the private sector had fallen beneath the 10% level,...

There are currently 31 insurance companies in Tanzania, and as the regulator of the sector we do not necessarily see the need for consolidation. Insurance companies have expressed, however, that there are significant barriers to consolidation, including the application of the 18% value-added tax (VAT). There is a charge on signed premiums, but...

While Tanzania’s insurance industry premiums have increased over the past year, elevated competition has affected underwriting profits. An agenda of wholesale regulatory reform may be welcomed by the larger players as a basis for a more sustainable market, but many insurers with lower levels of capitalisation face an uncertain period, as...

While advanced economies generate the vast majority of insurance and reinsurance business, emerging markets are posting higher rates of growth. Complementing this underlying trend is a strong and expanding interest in catastrophic risk, which by nature tends to pertain to emerging markets. This is coming alongside fast-paced, sector-...

In the past five years the DSE has made significant progress in its role of facilitating the financing of Tanzania’s economic development. This can be evidenced by the increase in depth, liquidity, number of investors and number of listed companies. The DSE has transformed into a commercial entity that pays dividends to over 3000 shareholders...

Brokers have played a dominant role in the distribution of insurance products since the birth of the modern sector. In important lines, such as accident, fire and aviation, they account for over 70% of underwriting activity, according to the Tanzania Insurance Regulatory Authority (TIRA).