Dun and Bradstreet Credit Reference Bureau Tanzania Limited has been awarded by Capital Finance International as the Best Risk Management Services Team, 2016.
A statement credited to the judging panel of Capital Finance International (CFI) stated that “The CFI.co judging panel recognizes the key role assigned to credit bureaus as economies develop and become more complex. The judging panel applauds the forward-looking approach taken by Dun & Bradstreet in Tanzania and offers the company the award for Best Risk Management Services Team, 2016”.
Speaking on the award, Dun & Bradstreet’s Country Head and General Manager Mr. Adebowale Atobatele said, “We thank CFI for the award but more importantly, we owe a million thanks to our subscribers in Tanzania – the award is dedicated to them specifically for giving us the opportunity to bring world class credit information reporting to Tanzania. We had always insisted that what we needed to draw the attention of the world to Tanzania, was half-a-chance. Our subscribers exhibited faith in us and have remained very supportive. We owe our success to them. We are glad that the award from Capital Finance International, vindicates our position that real leadership is successfully creating and delivering value to all stakeholders.”
In addition, the judging panel noted that Dun & Bradstreet maintains a number of programs and initiatives aimed at helping local banks and financial institutions further improve credit analysis skills and processes. Thought seminars and workshops, the company strives to offer tangible contribution towards Tanzania’s accelerated economic development.
Dun & Bradstreet is determined to help shape Tanzania’s Credit reporting and business information industry by hiring, training and retaining local talent. So far, the CRB’s efforts have helped to significantly improve the quality, timeliness and accuracy of credit reporting in Tanzania.
A number of banks have engaged the services of Dun & Bradstreet Credit Bureau in order to strengthen their credit management processes and reduce the incidence of nonperforming loans (NPLs). Also, experts are of the opinion that the existence of Credit Reference Bureaus can help improve the pace of development in emerging markets. With the advent of credit bureaus in emerging markets, those who were once considered unqualified for credit and financing can now get access to loans for productive purposes thereby improving the quality of their lives while at the same time contributing to the growth of the local economy.
Fully licensed by the Bank of Tanzania with it’s offices at the iconic Golden Jubilee Towers in Dar es Salaam, D&B maintains a team of seasoned professionals and leverages its global footprint and vast experience in order to become Tanzania’s preferred business information and risk management tool provider.