Credit Reference System Receives Boost as BoT Awards Credit Bureau Operating License to Dun & Bradstreet.

Dun & Bradstreet Credit Bureau Tanzania Limited yesterday confirmed receipt of a full operating license issued to them by the Bank of Tanzania.  The license empowers Dun & Bradstreet to offer Credit Bureau and related services in Tanzania.

The issuance of an operating license by Bank of Tanzania to Dun & Bradstreet brings an end to the long wait of the financial sector for D&B’s services and opens up a new and expectedly rewarding chapter for lenders who seek secure lending, borrowers who seek easy access to credit and other stakeholders who are keen on seeing a stronger and more vibrant economy driven by Tanzania’s financial sector.

According to Mr. Miguel Llenas, CEO of Dun & Bradstreet Credit Bureaus, the news of the issuance of an operating license to Dun & Bradstreet Credit Bureau Tanzania Limited by Bank of Tanzania was received with pleasant delight but also with the understanding that this is an immense responsibility. According to him, “We are delighted at the news of the issuance of the license by Bank of Tanzania and we thank them for taking this positive step by giving us the opportunity to bring our expertise to the benefit of all Tanzanians and everyone who does business in Tanzania.  We consider ourselves a vital part of the financial sector and are well prepared to play our role in protecting and strengthening Tanzania’s economy through its financial sector.”

Also speaking on the news of the issuance of the license by BoT, General Manager Dun & Bradstreet Credit Bureau in Tanzania – Adebowale Atobatele expressed high optimism that with the support of the B.o.T and the collaborative efforts of all stakeholders, the Credit Reference System as championed by BoT delivers the much anticipated benefits. Mr. Atobatele said, “We are glad that we are finally kicking-off operations in Tanzania and we are very optimistic that with everyone playing their role responsibly, we will be able to create and deliver superior value to all stakeholders.  With the commencement of operations by Dun and Bradstreet Credit Bureau in Tanzania, Banks can now look forward to processing loan applications faster, reducing operational costs and with better information; furthermore, the banking public can now look forward to getting easy access to credit.”

Dun & Bradstreet is present in 200 countries and has deployed its Credit Bureau solutions in several countries across Africa, Middle-East and Asia.