After Kenya, Creditinfo aims to expand SME scorecard to Tanzania
By
David Whitehouse
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Posted on
July 28, 2021 07:11
Creditinfo plans to deploy its scorecard that is designed to improve access to finance for small businesses in Tanzania. This follows the roll out of the product in Kenya this month, director Burak Kilicoglu tells The Africa Report.
The company has an existing credit bureau in Tanzania meaning the scorecard can be deployed there with “minimal” investment, he says.
According to Tanzania’s chamber of commerce, 95% of the country’s businesses are small and medium enterprises (SMEs), contributing 35% of the GDP. Despite this, the SME Finance Forum says 70% of the country’s SMEs have no access to formal financial services.