Tanzania has started training local commercial banks officials on how finance leasing ought to be done ahead of the first ever Finance Leasing Bill to be tabled in the next Parliament sitting.
Finance leasing - a contractual deal, between a lessor and lessee aims at improving financing options for small and medium enterprises (SMEs) to increase the volume of lease transactions in the country. SMEs in the country are held back by the high cost of capital and lack of medium term financing options.
``Leasing is a contemporary form of financing. It serves as an alternative to traditional long term bank loans and increases a company\'s ability to source all types of financing,`` noted Elizabeth Massanja, the programme assistant at the International Finance Corporation (IFC).
Already a consultant on finance leasing, Riadh Naouar from Madagascar, a country said to have 10-year experience on the sector is in the country and has initially trained several bank officials.
Jointly facilitated by the Swiss State Secretariat for Economic Affairs (SECO) and IFC, the programme will run business development support for commercial banks until December this year, mainly on \'how to start a leasing operation.`
SOURCE: Sunday Observer
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