DAR ES SALAAM, July 21 -- THE stock of credit extended to Tanzanias private sector increased by 22.5 per cent in the year ending May, reaching 49tri/- from around 40tri/- a year earlier, as banks continued supporting businesses and investment despite a moderation in lending growth.

The latest data from the Bank of Tanzanias (BoT) Monthly Economic Review Report shows private sector credit maintained an upward trend during the period, driven by sustained demand for financing from businesses and households.

The increase of nearly 9tri/- in outstanding loans highlights the growing role of commercial banks in financing working capital, trade activities, capital investment and business expansion.

According to the central bank report, annual ...