Joseph Sheffu

Joseph Sheffu

economist Tanzania

Joseph Sheffu is the country leader for Ernest & Young (EY) in Tanzania, where he has been vocal about the need for innovation and strategic support within the banking sector. Recently, he highlighted concerns regarding the excessive concentration of market power in the hands of two major banks, CRDB and NMB, warning that this could lead to systemic risks and hinder the competitiveness of smaller financial institutions in the country.

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Recent Mentions

Tanzania Tanzania: Mr Joseph Sheffu, Ernst & Young Tanzania Country Managing Partner, commented on the aggressive lending practices of banks. 6

Emmanuel Tutuba Abdulmajid Nsekela
The Citizen – major Tanzanian English newspaper, est. 2004: Credit expansion hits record high as banks push deposits to the edge

Tanzania Tanzania: Mr Joseph Sheffu warned that the concentration in the banking sector highlighted the need for innovation and strategic support. 6

Raphael Maganga Abel Kinyondo Tobias Swai Kelvin Mkwawa
The Citizen – major Tanzanian English newspaper, est. 2004: What Tanzania’s over-reliance on two banks implies for economy