Driving financial inclusion in the credit market.
A key challenge for all stakeholders is recognising, assessing and addressing risks within all financial activity.
On the supply side, there is limited remittance of credit data due limited understanding of the credit information and lack of processes in place to gather and validate data. On the consumer side, lack of assets and understanding of the concept of credit history have resulted in low take-up of credit and ill-informed alternative credit decisions.
FSDT supports the growth of a more inclusive financial information sharing system, with data shared across the sector and is working in partnership to develop national policies, create consumer demand for open and transparent services and communicate the benefits of risk mitigation mechanisms to both consumers and financial service providers.
Financial Sector Deepening Trust (FSDT) driving the financial inclusion agenda through digital innovation
14 Aug 2017
Digital financial services have had a remarkable impact on financial inclusion in Tanzania. Since its inception in 2008, mobile money usage has grown to 17m active users, enabling millions of previously unbanked Tanzanians to have convenient, affordable access to payment services.