DAR ES SALAAM, Aug. 13 -- THE total credit extended to the private sector increased to 30tri/-in the year ending July this year, up from about 29tri/- during the same period last year, reflecting growing business confidence and increased demand for financing amid economic recovery.

According to the latest Bank of Tanzania (BoT) monthly economic report the increase in credit extended to the private sector also reflects the increased investment activities that could boost economic growth.

This growth suggests that companies across various sectors are more willing to borrow funds to expand operations, invest in new technologies and increase production capacity. Such increased lending activity is often a positive indicator of private sector...