Dar es Salaam, Feb. 3 -- DAR ES SALAAM: THE Bank of Tanzania (BoT) will integrate Zanzibar into the Credit Reference Bureau (CRB) system to blacklist loan defaulters and address the regions high Non-Performing Loan (NPL) rate.

Speaking at a financial sector stakeholders meeting in Dar es Salaam over the weekend, BoT Governor Emmanuel Tutuba said NonPerforming Loan (NPL) rate in Zanzibar has surged to 28 per cent. “

To address this, BoT is working with digital payment platforms like Airpay and mobile banking services to facilitate easier loan repayments,” he said at the meeting, focused on improving loan repayments in Zanzibar by deploying digital technology.

“Many people struggle to repay loans due to inconvenient rep...