Tanzania Private Sector Foundation (TPSF) chief executive officer, Mr Raphael Maganga, said over-reliance on the two largest lenders was a concern. He warned that concentration reduces private sector bargaining power, raises systemic risks, and constrains innovation. “For TPSF and the broader private sector, it is crucial to advocate for financial sector diversification, fintech inclusion and alternative financing mechanisms,” he said. “Most large banks’ networks are in urban areas,” he said. “This would push smaller banks to scale faster, rather than stagnating,” he said.