Browsing: Pandemic in Tanzania

Covid-19 in Africa

The world is in economic lockdown due to the COVID-19 pandemic.  No good news is coming out of any media whether mainstream or social media. Never in our lifetime have we witnessed such a magnitude of business and border closures, from developed to developing countries. It is a global problem and therefore, its effects should be measured globally. The coverage of this pandemic by the global and local media clearly indicates the economic problems ahead not only for individuals but also for businesses at large. This calls for a reflection of the effect of this pandemic on the financial sector in Tanzania given the current global and local environment.

A summary of the financial sector in Tanzania shows a composition of thirty commercial banks, six community banks, five microfinance banks and two development finance banks (collectively lenders). The primary function of these lenders is to acquire liabilities through deposits and …