BoT pushes for stronger oversight of non-banking sector at SADC Forum

By The Respondents Reporter

The Bank of Tanzania (BoT) is participating in the 48th Annual General Meeting and side meetings of the Committee of Insurance, Securities, and Non-Banking Financial Authorities (CISNA), under the Southern African Development Community (SADC), to advance discussions on the regulation and stability of the region’s non-banking financial sector.

The meeting, taking place in Maun, Botswana, from October 5 to 10, 2025, brings together policymakers and regulators from SADC member states to deliberate on strategies that strengthen the oversight and development of insurance, capital markets, and microfinance institutions.

The Tanzanian delegation is led by BoT Deputy Governor for Financial Sector Stability, Ms. Sauda Msemo, who is representing the country in the regional dialogue.

BoT became a member of CISNA after signing a memorandum of understanding on October 6, 2023, recognizing its mandate to supervise social security funds and non-bank financial institutions, including microfinance service providers.

The meeting was officially opened on October 7, 2025, by Botswana’s Vice President, Hon. Ndaba Nkosinathi Gaolathe, who commended CISNA for its effective coordination in promoting financial sector stability across SADC.

He urged member states to intensify efforts toward economic growth through harmonized financial regulations, adding that a well-supervised non-banking sector is essential for inclusive development.

“CISNA’s work in promoting financial literacy and supporting microfinance initiatives has been instrumental in empowering citizens and businesses across our region,” said Vice President Gaolathe.

CISNA plays a vital role in harmonizing the regulatory frameworks that govern non-banking financial institutions within SADC, ensuring they comply with international standards and foster investor confidence.

Through this forum, BoT and its regional counterparts are expected to exchange ideas and align policies aimed at enhancing financial inclusion, investor protection, and the resilience of the financial system in the region.