Dun & Bradstreet Meets Bank Executives at Consultative Workshop.

L-R Adrian Pillay (GM Business  Development), Adebowale Atobatele (GM Tanzania Bureau) and Miguel Llenas (C.E.O) at the Dun & Bradstreet Credit Bureau Workshop in Dar es Salaam recently.
General Manager – Mr. Adebowale Atobatele (left) with C.E.O- Mr. Miguel Llenas of Dun & Bradstreet Credit Bureau Tanzania Limited.
Participants at the Dun & Bradstreet Credit Bureau (T) Limited Workshop Aprili 3 2013.

Dun and Bradstreet Credit Bureau Tanzania Limited, the first licensed Credit Bureau in Tanzania, Dar es Salaam 3rd May 2013 is set to meet with Bank Executives at a consultative workshop at the Hyatt-Kilimanjaro hotel in Dar es Salaam, Tanzania.

The presence of Dun & Bradstreet Credit Bureau in Tanzania meets the much anticipated boost to the financial stability and strengthening efforts of the Bank of Tanzania and will bridge the information asymmetry in the banking sector.

The workshop, a precursor to the official opening of Dun & Bradstreet Credit Bureau’s offices in Tanzania, aims to develop the working relationship between the credit bureaus, banks and the financial institutions, many of whom have played a key role in ensuring that Tanzania gets a bureau that is of international standards.

According to Mr. Miguel Llenas, C.E.O of Dun & Bradstreet Credit Bureaus Tanzania Limited, “Our aim is to build the most comprehensive Credit Bureau that will play a vital role in boosting Tanzania’s economy and financial soundness. To this end, we have designed a very detailed workshop which will focus specifically on D&B’s role to help banks and the financial institutions in Tanzania to improve the assessment of credit/loan applications with a view to ensure that they make only the most informed business decisions that reduces NPL ratios so as to create an easily identifiable pool of credit-worthy customers.”

Also, speaking further about the consultative workshop, General Manager Dun & Bradstreet Credit Bureau Tanzania Limited, Mr. Adebowale Atobatele said, “We consider banks and the financial institutions in Tanzania to be our partners. The workshop is an opportunity for us to meet with, and listen to our partners in Tanzania. We want to serve them and it is important for us to understand the specific challenges they encounter in their business of creating risk assets. We believe that the contributions from banks and the financial institutions will help D&B to develop a solution that is in the best interest of Tanzanian Banks, Tanzania’s Financial Sector, Tanzania’s Economy and Tanzanians as whole; and that also meets globally recognized best credit reporting standards.”

For long, banks and the financial institutions in Tanzania have struggled with high ratios of Non-performing loans on their books, most of which they have had to make provision therefore recording lower operational profits. However, with the introduction of the Credit Bureau System; banks, the financial institutions along with the consumers can look to brighter days ahead.

The workshop by Dun & Bradstreet follows the successful commencement of operations at its Ghana Bureau where already the market is abuzz with D&B’s presence.