The government has renewed its call for Tanzanians living abroad to actively invest in their home country, positioning them as key contributors to national development.
Deputy Minister for Foreign Affairs and East African Cooperation, Mr. David Cosato Chumi, speaking on behalf of Minister Amb. Mahmoud Thabit Kombo, made the appeal during the launch of the “Akaunti ya Mzawa,” a diaspora-focused financial service by Absa Bank Tanzania.
“The diaspora’s role in building the nation is undeniable,” he said.
The new banking solution is designed to address challenges faced by the diaspora in accessing financial services. It allows users to open accounts remotely, transfer funds, invest locally, and operate in five major foreign currencies.
“This account is a bridge between our people abroad and opportunities at home,” Chumi explained.
According to government data, diaspora remittances have been steadily increasing, reaching over TSh 1.4 trillion in 2022 alone.
“These funds are transforming lives through education, health, housing, and entrepreneurship,” the Deputy Minister noted.
To strengthen this contribution, the government has reviewed its Foreign Policy to include diaspora affairs, launched a digital registration platform, and introduced special legal status for Tanzanians abroad.
“We are creating a supportive environment that values and facilitates diaspora engagement,” said Chumi.
Absa Tanzania’s Managing Director, Obedi Laizer, said the development of the service was guided by feedback from the diaspora.
“We listened to their needs and responded with a solution that simplifies their financial journey,” he said.
The event was attended by senior government officials, including the Director of the Diaspora Department, Salvatory Mbilinyi, retired ambassadors, and stakeholders from the banking and investment sectors.
“It is through such collaborations that we unlock the full potential of Tanzanians abroad,” said Laizer.
