press statement - creditinfo - final
TRANSCRIPT
Dar es Salaam - Sunday, April 3rd, 2016
JOINT PRESS RELEASE
HESLB and Creditinfo partner to enhance students’ loan recovery process
Higher Education Students’ Loans Board (HESLB) and Creditinfo Tanzania Limited (CIT) have concluded a strategic partnership which will ensure particulars of all higher education loan beneficiaries are available in the databank of the Credit Reference Bureau (CRB) at the Bank of Tanzania.
From the partnership, HESLB will avail a list of loan beneficiaries to the CreditInfo Company Ltd with a view of sharing credit related information with lending financial institutions in the country. The lending financial institutions will then be able to confirm their credit worthiness before granting them new credit facilities.
“HESLB is pleased to work with Creditinfo as a new strategic partner. We urge our beneficiaries with due higher education loans to start servicing their loans to enhance their credit worthiness,” said Mr. Jerry Sabi, HESLB’s Acting Executive Director during a brief partnership signing ceremony in Dar es Salaam.
Davith Kahwa, CEO, Creditinfo Tanzania, commented “Creditinfo Tanzania is in the business of improving access to credit and promote responsible lending and borrowing. Beneficiaries of higher education loans who are consistently servicing their loan obligations will have unique opportunity to grow their credit histories and reputational collateral relevant to easy access to credit and empower them to negotiate favourabel interest rates. Conversely, for graduates defaulting on their loan repayments , this will adversely affect their reputation and ability to access credit on any kind in the future. This can only improve the sense of responsibility and accountability”
”We are committed to support HESLB to execute its strategic objectives particulary improving recovery of loaned funds and enhancing its financial sustainability.” he added.
About HESLBHESLB is a Government institution established by an Act in 2004 and started operations in July, 2005. It has two key functions namely; to issue loans to needy Tanzanian students who secure admission in accredited higher learning institutions as well as to collect due loans from beneficiaries. So far, over TZS 2.1 trillion have been issued by the government as loans and, out of this amount, TZS 258 billion is due for collection.
About Creditinfo Creditinfo Tanzania Limited is the first licensed credit reference bureau in Tanzania, it form part of Creditinfo Group. Creditinfo is a leading service provider for credit information and risk management solutions worldwide. It has developed, through its multiple subsidiaries in more than 20 countries, numerous innovative products and services from official and customer information sources to facilitate best practices in credit risk management. Creditinfo has been shortlisted and awarded in several tenders supported by World Bank, IFC, Millennium Challenge Corporation and other international organizations. Creditinfo has headquarters in Reykjavik, Iceland, and it employs around 280 people worldwide.
For further information please contact:HESLBOmega S. Ngole, Manager – Information, Education & Communicationtel+255 757 500 [email protected]
Creditinfo Tanzania LimitedVan Reynders, Country Managertel. +255 22 212 7263email:[email protected]