By Alfred Zacharia
The Minister for Finance, Dr Mwigulu Nchemba, has directed the Bank of Tanzania (BoT) to ensure that all banks and financial institutions in the country register and actively participate in the newly launched Sema na BoT platform, a system designed to streamline the handling of consumer complaints in the financial services sector.
Speaking today in Dodoma during the official launch of the Sema na BoT Consumer Complaints Handling System and the BoT Fintech Regulatory Sandbox, Dr. Nchemba said the initiative was a significant step towards enhancing transparency, accountability, and public confidence in Tanzania’s financial ecosystem.
“This platform offers a structured and transparent mechanism for consumers to report issues such as predatory lending practices and delays in service delivery,” Dr Nchemba said.
He added that “By addressing these concerns effectively and in a timely manner, we will restore trust in the formal financial system and promote financial inclusion.”
The launch event was held at the Ministry of Finance’s Kambarage Conference Hall and attended by senior government officials, central bank representatives, and key stakeholders in the financial and technology sectors.
Dr. Nchemba emphasized that participation in the system is not optional, calling on BoT to enforce full compliance across the sector.
“The Bank of Tanzania must take responsibility for ensuring that all financial service providers are integrated into this system,” he said.
Institutions, according to him, must not only resolve complaints efficiently but also provide regular financial education to consumers, as stipulated in the BoT’s 2019 Consumer Protection Regulations.
He also used the occasion to unveil the BoT’s Fintech Regulatory Sandbox, a controlled environment that allows innovators to test financial technologies under the oversight of the central bank.
According to Dr. Nchemba, the sandbox represents a broader vision championed by President Samia Suluhu Hassan to accelerate the country’s transition to a digital economy.
“This is a clear demonstration of our commitment to becoming a model among developing nations when it comes to fintech innovation. The government is laying the foundation to attract technology-driven investment and provide opportunities for young Tanzanians to participate in the digital economy,” he said.
He added that public participation in financial literacy programmes remains key to protecting consumers from exploitative financial practices and urged financial institutions to intensify awareness campaigns.
On his part, the Permanent Secretary in the President’s Office – Finance and Planning (Zanzibar), Dr Juma Malik Akil, pledged Zanzibar’s commitment to supporting the implementation of the platform, noting that the government will work closely with BoT to ensure the system functions as intended.
BoT Governor Emmanuel Tutuba described Sema na BoT as a user-friendly and inclusive platform accessible to all Tanzanians, regardless of their location or digital literacy.
“It is designed to allow every user of financial services, whether they live in urban or rural areas, to file a complaint with ease. The platform empowers both the consumers and the institutions by encouraging faster resolution of issues and driving improvements in service delivery,” he said.
The launch of the two initiatives signals the government’s growing focus on regulatory innovation and consumer protection, which experts say are essential pillars for sustainable financial sector development.
