Browsing Tag
Financial Inclusion
21 posts
Bank of Tanzania Opens Applications for Second Fintech Regulatory Sandbox Cohort
The Bank of Tanzania has opened applications for the second Fintech Regulatory Sandbox cohort, inviting fintech companies and financial service providers to test new solutions not yet covered by regulation. Applications close on 23rd October 2025.
Tanzania Banking Sector Assets Reach TZS 62 Trillion in 2024 as Profits Rise 39% and Financial Inclusion Expands Through Agent Banking, Digital Channels, and Microfinance
The Bank of Tanzania’s 2024 Banking Supervision Annual Report shows the sector remained sound and profitable, with net profit rising 39% and non-performing loans declining to 3.4%. Financial inclusion expanded strongly, driven by a 37% increase in agent banking, growth in digital platforms, and microfinance services reaching 765 non-deposit-taking providers, 80 SACCOS, and 10,642 community microfinance groups.
Tanzania Financial Inclusion Index Rises to 0.81 in 2024 with Growth in Microfinance, Mobile Money, Digital Loans, Warehouse System, and Digital Insurance
The Bank of Tanzania Tanzania Financial Inclusion Report 2024 shows the inclusion index rising to 0.81, driven by increased access and usage of financial services. Microfinance access points grew 21.4% year-on-year, active mobile money accounts rose 17.5% to 60.75 million, digital loans doubled, warehouse system beneficiaries increased 1,178%, and digital insurance premiums reached TZS 1.4 trillion, highlighting strong growth across both traditional and digital financial services.
FSDT Seeks Strategic Advisor for Digital Financial Services and Infrastructure in Tanzania
The Financial Sector Deepening Trust (FSDT) is looking for a Strategic Advisor to support the design and implementation of digital financial services and sector infrastructure initiatives in Tanzania. The consultant will provide technical expertise on DFS innovations, alternative credit scoring, and shared financial systems, with a focus on financial inclusion for women and youth. The engagement runs from July 2025 to June 2027. Proposals must be submitted by 14 August 2025.
Canada Launches CAD 5M Project to Support Youth Entrepreneurship and Job Creation in Tanzania
The Government of Canada has launched a CAD 5M partnership with FINCA to support over 10,000 youth in Tanzania with training, mentorship, financial literacy, and business development programs. The initiative targets young people under 30, especially women, and aims to create 3,600 jobs by improving access to employment and entrepreneurship opportunities.
Tanzania’s First Digital Business Hub Launched in Dar es Salaam with Over TZS 1 Billion Investment to Serve 2,000 Businesses
Tanzanian mobile operator Yas, fintech company Mixx by Yas, and East Africa Commercial and Logistics Center have signed a partnership agreement to establish an integrated digital business hub in Dar es Salaam, providing high-speed internet and mobile financial services for over 2,000 businesses. The center will offer digital payment, agent networks, compliance, training, and will serve as a regional model for digital commerce and economic development.
Tanzania Instant Payment System (TIPS) Processed TZS 29.9 Trillion in Transactions in 2024, BOT and FSDT Study Shows
A new case study by BOT and FSDT shows that the Tanzania Instant Payment System (TIPS) processed 453.7M transactions worth TZS 29.9T in 2024. The platform enables real-time digital payments across financial service providers.
FSDT Facilitates the Digitization of Community Microfinance Groups in Tanzania to Boost Financial Inclusion
FSDT, in partnership with Mixx by Yas and TCB, has digitized over 15,000 Community Microfinance Groups in Tanzania. The initiative enhances financial inclusion, particularly for women, by transitioning informal savings groups to digital platforms, ensuring transparency, security, and access to tailored financial products.
Tanzania Launches Investment Desk Across All Post Offices Nationwide
Vertex International Securities, in partnership with Tanzania Posts Corporation, has launched the Investment Desk. This initiative allows Tanzanians to buy and sell shares, bonds, and derivatives through the Dar es Salaam Stock Exchange (DSE) at post offices across the country, ensuring financial inclusion and accessibility for all.
Call for Proposals for Advisory Services to Establish Venture Capital and Private Equity Fund in Tanzania
FSDT has launched a call for proposals for advisory services to establish a venture capital and private equity fund in Tanzania. The initiative, funded by the European Union, aims to support youth and women entrepreneurs with seed and growth-stage capital. The deadline for proposal submission is 5 PM, 3rd March 2025.