DAR ES SALAAM, Sept. 14 -- BANKING sector expanded private-sector lending significantly in the year to July, with the stock of credit reaching nearly 54tri/-, as annual growth accelerated to nearly 31.2 per cent, signalling stronger demand for financing across the economy.

The latest Bank of Tanzania (BoT) Monthly Economic Review shows that the stock of credit extended by banks to the private sector rose steadily from about 40.97tri/- in July last year to nearly 53.77tri/- in July this year.

The increase represents continued expansion in financing available to businesses and households, as banks respond to demand for working capital, investment and other forms of credit.

Speaking with the Daily News yesterday, Economist and investment ...