I&M Holdings PLC Financial Overview and Strategic Outlook
Economic Review - Tanzania
GDP
The overall GDP rate dropped to 4.5% by Q3-2020 compared to 5.7% registered in Q1-2020
and 7.3% registered in the corresponding period in 2019. The economic outlook remains
positive in 2021 as the recovery continue to gather momentum, albeit at a marginal pace. The
GDP is projected to grow by 5.5% and 6% in 2020 and 2021, respectively²
Economic Outlook
•
% The protracted global health crisis
•
that
continues in 2021 could
undermine global demand and thus
the Tanzanian economy.
Many downside risks remain as
potential further waves of the virus.
could weigh on the domestic
economy, while the recent surge of
cases in the country and globally
threatens the recovery of foreign
demand¹
Source: ¹IMF World Economic Outlook and Focus Economics Newsletters. 2IMF Country Report
M
Banking Sector
✓ The total assets in the Banking industry grew
by 0.6% to TZS 33.6 trillion in the year 2020.
The overall deposits reported an increase of
5.49% to TZS 24.8 trillion. Credit growth
registered a net increase of 7% from TZS 17.0
trillion in 2019 to TZS 18.2 trillion in 2020.
✓ The Bank of Tanzania implemented several
measures to ease liquidity conditions in the
monetary sector, including a reduction in the
discount rate. They have also reduced reserve
requirements to enhance credit to the private
sector and facilitate regulatory flexibility for
loan restructuring, where it is warranted².
Holdings
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