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URT Updates

Updates from the United Republic of Tanzania

URT Updates

Updates from the United Republic of Tanzania

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Tanzania Advances IDA-21 Financing Talks with World Bank at IMF Spring Meetings in Washington

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The Permanent Secretary of the Ministry of Finance, Dr. Natu El-maamry Mwamba, chaired a high-level meeting to deliberate on priority government projects across various sectors to be financed by the World Bank under the 21st replenishment cycle of the International Development Association (IDA-21).

The meeting, which also involved the National Planning Commission led by its Executive Secretary and Permanent Secretary in the President’s Office for Planning, Dr. Tausi Kida, was held at the Embassy of Tanzania in the United States on the sidelines of the IMF/World Bank Spring Meetings 2026 currently taking place in Washington, D.C..

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President Samia Suluhu Hassan addresses guests during the 60th anniversary celebrations of the Bank of Tanzania in Dar es Salaam, highlighting financial sector reforms, financial inclusion, and private sector-led economic growth. President Samia Suluhu Hassan today called for lower borrowing costs, wider access to credit and stronger competition in Tanzania’s financial sector, saying finance must do more to support private sector growth. Speaking as Tanzania marked the 60th anniversary of the Bank of Tanzania in Dar es Salaam, President Samia said women, youth, farmers and small businesses must be better served by the country’s financial system. The President said access to finance should translate into higher incomes, stronger businesses, timely capital for farmers, new companies for young people and stronger household savings. > “Our benchmark should not be how many people have been reached by financial services alone, but how those services have raised incomes, expanded businesses, helped farmers access capital on time, enabled young people to start companies and strengthened household savings,” President Samia said. She further urged financial institutions to review the full cost of credit, including interest rates, fees, insurance, collateral conditions and repayment terms, advising that lending decisions should not only depend on conventional collaterals, but also on business records, sales performance and repayment history. President Samia said digital payment systems should cut transaction costs, ease business operations and expand financial inclusion without creating new burdens for traders. Speaking at the same occasion, Minister for Finance, Hon. Amb. Khamis Mussa Omar said Tanzania’s Development Vision 2050 will require a more responsive financial sector capable of adapting to rapid changes in the economy, technology and financial markets. He said the government will continue working with the Bank of Tanzania to strengthen policy, supervision and the investment environment. Meanwhile, Bank of Tanzania Governor, Mr. Emmanuel Tutuba said the central bank had helped maintain price stability, strengthen financial sector supervision, modernise payment systems and expand financial inclusion. Mr. Tutuba cited private sector credit had risen from 6.6 percent of GDP in 1994 to nearly 16 percent in 2025. Non-performing loans fell to 2.9 percent in February, 2026, while foreign exchange reserves remain sufficient to cover more than four months of imports. Earlier, Alliance for Financial Inclusion (AFI) Chief Executive Officer, Dr. Alfred Hannig, praised Tanzania’s role in advancing inclusive finance and payment system innovation in Africa. > “The Bank of Tanzania today stands among Africa’s leading central banks in advancing financial inclusion,” Dr. Hannig said. He said Tanzania had built a strong standing within AFI through digital innovation, instant payment systems and consumer protection reforms. During the ceremony, President Samia also received a Special Award for Transformative Leadership in Financial Systems and Financial Inclusion, recognising her role in advancing financial sector reforms and access to financial services.

Financial Inclusion Must Deliver Real Economic Impact, Says President Samia

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The IMF has praised Tanzania for its effective implementation of economic reforms under the ECF and RSF programs, highlighting progress in fiscal resilience, financial sector strengthening, and climate-focused policies. The International Monetary Fund (IMF) has commended Tanzania for its strong cooperation and effective implementation of economic reforms under the Extended Credit Facility (ECF) and the Resilience and Sustainability Facility (RSF). The ECF program supports economic stability through concessional financing targeted at productive sectors and social services, while the RSF focuses on enhancing resilience to climate change and promoting sustainable economic growth. The commendation was delivered by Nicolas Blancher, who led an IMF delegation during a comprehensive review of IMF-supported programs in Tanzania. The remarks were made during a high-level meeting with the Tanzanian delegation led by Natu El-maamry Mwamba at the Ministry of Finance offices in Dodoma. Blancher reaffirmed the IMF’s commitment to supporting Tanzania in completing the ongoing programs and shaping future phases of cooperation. He noted that the mission also focused on key macroeconomic policy discussions, including Tanzania’s response to global economic challenges such as the ongoing crisis in the Middle East. He emphasized the need to further strengthen the financial sector, increase investment in health and education, and promote private sector growth and job creation in line with Tanzania’s Development Vision 2050. On her part, Dr. Mwamba expressed appreciation for the IMF’s continued support in advancing Tanzania’s economic reform agenda. She reiterated the government’s commitment to maintaining close collaboration with the IMF to achieve inclusive growth and sustainable development, while ensuring timely access to financial resources. Regarding implementation progress, Dr. Mwamba noted that under the ECF program, two out of eight performance benchmarks have been achieved, including the establishment of an Emergency Liquidity Assistance (ELA) framework and improvements in collateral systems for financial institutions. Five additional benchmarks are currently at advanced stages, including reforms in public investment planning, VAT refund systems, and a new collateral law to expand acceptable secured assets. Under the RSF program, five out of eight reform milestones have been completed, including long-term energy strategies aligned with climate goals and systems for collecting climate-related financial data. The IMF’s assessment highlights Tanzania’s continued progress in strengthening economic governance, building fiscal resilience, and implementing climate-responsive policies—positioning the country for sustainable and inclusive growth.

IMF Commends Tanzania for Strong Economic Reforms Under ECF and RSF Programs

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Prime Minister Dr. Mwigulu Nchemba presenting Tanzania’s 2050 Vision implementation plan and 2026/2027 budget in Dodoma Parliament Prime Minister Dr. Mwigulu Nchemba has directed the commencement of Tanzania’s 2050 Vision implementation, emphasizing strategic planning, inclusive economic growth, and active engagement with the private sector and development stakeholders. The Prime Minister issued the directives today, April 1, 2026, while presenting the Government Work Review and Budget Estimates for the Office of the Prime Minister and Parliament for the 2026/2027 fiscal year at the Parliament in Dodoma. Dr. Nchemba instructed the Planning Commission to continue public awareness campaigns on the 2050 Vision, enabling stakeholders to fully participate in its implementation. He emphasized that achieving the Vision requires widespread understanding of its key priorities across government, private sector, civil society, and religious institutions. The 2050 Vision, launched by President Dr. Samia Suluhu Hassan on July 17, 2025, will guide Tanzania’s development over the next 25 years, aiming to build an inclusive, equitable, and self-reliant nation. Dr. Nchemba highlighted that by 2050, the Vision targets a national economy valued at USD 1 trillion and a per capita income of USD 7,000 annually, supported by good governance, peace, and security. He directed sector leaders to ensure that national resources are efficiently allocated to high-impact priorities to reduce dependency on external support. The Vision is structured around three pillars: a strong, inclusive, and competitive economy; human capital development and social progress; and environmental conservation with climate resilience. To operationalize the Vision, the government has established strategic measures, including fostering public-private partnerships, optimizing resource use through strategic programs, and cultivating a culture of savings for investment purposes. Dr. Nchemba noted that the budget presented to Parliament marks the first step in implementing the Fourth Five-Year National Development Plan (2026/2027 – 2030/2031) aligned with the 2050 Vision. The plan emphasizes economic transformation and job creation while ensuring that resources are directed toward strategic high-impact priorities for sustainable growth and citizen welfare. The Prime Minister requested Parliament’s approval of TZS 12.50 trillion for the Office of the Prime Minister and its institutions for 2026/2027, including TZS 8.73 trillion for recurrent expenditure and TZS 3.76 trillion for development activities. Additionally, he sought approval of TZS 225.02 billion for the Parliamentary Fund, with TZS 207.99 billion allocated for recurrent expenses and TZS 17.03 billion for development projects. Dr. Nchemba stressed that robust monitoring, evaluation, and accountability mechanisms will be maintained to ensure that the goals of the 2050 Vision are achieved.

PM Mwigulu’s 2050 Vision: Bold Moves to Transform Tanzania’s Economy and Society”

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Finance Minister Khamis Mussa Omar meeting with members of the Capital Markets Tribunal delegation at the Ministry of Finance offices in Dar es Salaam. Dar es Salaam | 20 February 2026 — The Minister of Finance of Zanzibar, Hon. Ambassador Khamis Mussa Omar (MP), has directed the Capital Markets Tribunal to intensify public awareness efforts to ensure that a broader range of stakeholders utilize the platform to resolve capital market-related disputes effectively. The directive was issued during a meeting held at the Ministry of Finance Sub-Office in Dar es Salaam, where the Minister received a delegation from the Capital Markets Tribunal, led by its Chairperson, Hon. Justice Dr. Ntemi Kilekamajenga. Minister Omar emphasized the Government’s commitment to strengthening investor confidence by ensuring accessible, transparent, and efficient dispute resolution mechanisms within the financial sector. He reaffirmed the Government’s broader objective of maintaining a conducive investment environment capable of attracting capital inflows and fostering sustainable economic development. For his part, Justice Dr. Kilekamajenga explained that the Tribunal was established as a specialized platform to hear and determine disputes arising within the capital markets sector. He further noted that the Tribunal’s mandate extends to disputes originating from commodity exchanges, including matters related to warehouse receipt systems. The meeting was also attended by the Permanent Secretary of the Ministry of Finance, Dr. Natu El-Maamry Mwamba; the Registrar of the Capital Markets Tribunal, Dr. Martin Kolikoli; and the Acting Commissioner for Financial Sector Development, Ms. Dionisia Mjema. The engagement underscores Tanzania’s ongoing efforts to strengthen financial governance frameworks, enhance regulatory clarity, and promote investor protection within its expanding capital markets ecosystem.

Finance Minister Calls for Greater Awareness of Capital Markets Tribunal to Strengthen Investor Confidence

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Minister of Finance Ambassador Khamis Mussa Omar meeting FIU and Bank of Tanzania officials in Dodoma to discuss anti-money laundering reforms ahead of the Egmont Group Meeting 2026. The Minister of Finance, H.E. Ambassador Khamis Mussa Omar (MP), has held high-level talks with leadership from the Financial Intelligence Unit (FIU) and the Bank of Tanzania (BoT) as part of ongoing efforts to strengthen Tanzania’s financial integrity framework ahead of the upcoming Egmont Group Meeting. The meeting, held at the Minister’s Office in Dodoma, brought together a delegation led by Ms. Sauda Msemo, Chairperson of the National Committee of Experts on Anti–Money Laundering and Deputy Governor of the Bank of Tanzania, alongside FIU Commissioner Mr. Majaba Magana. Discussions focused on priority measures to enhance Tanzania’s systems for combating money laundering, terrorist financing, and the financing of weapons of mass destruction (AML/CFT/CPF). Participants also reviewed emerging digital and technological approaches aimed at improving surveillance, reporting, compliance, and real-time monitoring to better detect and deter illicit financial flows. H.E. the Minister commended the FIU and partner institutions for their continued progress in reinforcing national safeguards, underscoring the importance of strong inter-agency coordination among financial sector regulators and national security institutions. In her remarks, Ms. Msemo announced that Tanzania will host the Egmont Group Meeting from 26–30 January 2026 in Arusha, a major international forum that facilitates cooperation and intelligence sharing among Financial Intelligence Units worldwide. The meeting also acknowledged Tanzania’s removal from the Grey List of jurisdictions with strategic AML/CFT deficiencies in June last year, a significant milestone that has bolstered international confidence in the country’s financial system and regulatory resilience. Also in attendance were Deputy Minister of Finance H.E. Laurent Luswetula (MP), Deputy Permanent Secretary Mr. Elijah Mwandumbya, and senior officials from the Ministry of Finance and the FIU.

Minister of Finance Engages FIU and BoT Leadership to Strengthen Tanzania’s Financial Integrity Ahead of Egmont Group Meeting

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