Tanzania’s central bank recently revoked the license of Msilikare Microfinance, citing various allegations of impropriety, including that the institution was charging interest rates “well beyond” the permissible limit. One loan, for example, reportedly carried monthly interest of 20%. Msilikare primarily served teachers in the Shinyanga Region of Tanzania. Additional details on the firm are not available.Author: Rohan Kumar Agarwal
Mesofinance Media
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