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, HESLBs 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 HESLB
HESLB 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:
HESLB
Omega S. Ngole, Manager Information,
Education & Communication
tel+255 757 500 800

Creditinfo Tanzania Limited

Van Reynders, Country Manager
tel. +255 22 212 7263
email:v.reynders@creditinfo.co.tz

ongole@heslb.go.tz
www.heslb.go.tz

www.creditinfo.co.tz