Creditinfo and PRIDE Tanzania partner to promote responsible lending

Creditinfo Tanzania Limited and Promotion of Rural Initiatives and Development Enterprises Limited (PRIDE Tanzania) today announced concluding a strategic partnership. The partnership aims to support PRIDE Tanzania to make better and informed credit decisions, improve overall business performance and pursue joint ambition of promoting responsible lending and financial inclusion.

Davith Kahwa, CEO, Creditinfo Tanzania, commented “Microfinance Institutions (MFIs) still dominate the base-of- the-pyramid lending landscape in Tanzania. However, in increasing numbers, other types of lenders, including commercial banks, consumer lenders, retailers and other nonfinancial firms, are also now targeting these market segments. For credit reporting to be effective as a tool in averting over-indebtedness, all relevant lenders in our market need to participate.

We are delighted that PRIDE Tanzania is taking the lead by participating and integrating credit information into their customer lifecycle management processes. We are committed to support PRIDE Tanzania to improve credit risk management processes and ultimately overall business performance,“ he added. “PRIDE Tanzania is pleased to welcome Creditinfo as a new strategic partner.

We believe effective credit reporting systems, with adequate market coverage, is a critical investment for the Microfinance sector to ensure sustainable growth and avoid client over-indebtedness. This collaboration supports our long term business objectives. We are looking forward to a mutual rewarding business relationship with Creditinfo,” said Rashid Malima, Managing Director, PRIDE Tanzania.

Creditinfo Tanzania Limited Chief Executive Officer, David Kahwa (L) and Promotion of Rural Initiatives and Development Enterprises Limited (PRIDE) Tanzania Managing Director, Rashid Malima (R) exchanging partnership agreement documents in Arusha yesterday. The partnership aims to support PRIDE Tanzania to make better and informed credit decisions, improve overall business performance and pursue joint ambition of promoting responsible lending and financial inclusion.