Dickson Ng'hily
JF-Expert Member
- Oct 22, 2010
- 473
- 508
TANZANIANS have been urged to embrace the concept of Credit Reference Bureau (CRB) as a tool that aids access to credit and responsible lending, since the economy stands to gain a whole lot more if everyone knows about CRB.
This was said over the weekend in Dar es Salaam by the Dun & Bradstreet Created Bureau Tanzania Limited's Manager Adebowale Atobatele when addressing students from the Institutes of Finance and Management (IFM) and the University of Dar es Salaam (UDSM) at a workshop meant to create awareness about the existence, usefulness, functions and benefits of Credit Bureaus in the country.
"…the economy stands to gain a whole lot more if everyone knows about the existence, role and benefits of the credit bureau and make good use of its product and services. History has it on record that successful economies do not just happen; they are cultivated and we all have a responsibility to cultivate our own economy," he said.
According to him, cultivating the economy is done by ensuring that those who deserve to get access to credit for productive use actually do and that when people are given credit that are responsible enough to repay thus ensuring that more people get access to credit.
For his part, Dr Bill Kiwia, a lecturer at Institute of Finance and Management, commented that: "…the importance of credit bureaus in an economy cannot be over-emphasized and we are grateful to Dun & Bradstreet for hosting this seminar."
Adding that: "Today our students have been better informed about CRB and have also learned about the importance of being responsible with money. D&B has done well and we hope that more of this seminar will take place soon".
One of the participants Ibtihal El-Hadj, was quoted as saying: "Attending this seminar is an extremely insightful as a third-year student, I now know more about Credit Bureaus and what they do".
El-Hadj who is pursuing a degree in Banking and Finance with IFM says she had somewhat of a rough idea on what exactly credit bureaus do. However, the seminar improved her understanding and painted a much clearer picture.
The seminar which featured a presentation co-delivered by staff of Dun & Bradstreet Credit Bureau Tanzania Limited, was attended by 40 participants drawn from both the University of Dar es Salaam and the Institute of Finance and Management.
Dun & Bradstreet Credit Bureau Tanzania is a subsidiary of Dun & Bradstreet Credit Bureaus Limited – a company that has been actively involved in building Commercial, Consumer and SME credit bureaus all across the world.
Source: The Guardian
