The Government of Tanzania is stepping up efforts to strengthen the financial sector and make financial services more accessible to citizens, a move aimed at boosting national development and improving livelihoods.
The initiative was highlighted on January 21, 2026, during the official opening of the National Financial Services Week at Usagara Grounds in Tanga City.
Speaking on behalf of the Minister of Finance, Ambassador Khamis Mussa Omar (MP), Deputy Minister Laurent Luswetula (MP) said the government has created a supportive environment through policies, laws, and programs, including the Financial Sector Development Master Plan, the Public Financial Literacy Program, and the Inclusive Financial Services Program. These initiatives have driven strong growth in the country’s financial sector.
He noted that by September 2025, Tanzania had 35 commercial banks, two development banks, three microfinance banks, and over 2,800 microfinance institutions, supported by more than 145,000 banking agents.
Bank assets reached TZS 71.8 trillion, deposits TZS 50.2 trillion, and private sector loans TZS 42 trillion, showing growing economic stability and investment.
Luswetula added that the insurance and capital markets have expanded, and Tanzania’s removal from the EU high-risk list and FATF monitoring list will further simplify financial transactions and attract investments starting January 29, 2026.
On behalf of the Permanent Secretary of Finance, Dr. Natu El-Maamry Mwamba, Acting Commissioner of the Financial Sector Development Department, Ms. Dionisia Mjema, said the National Financial Services Week is a key opportunity to educate citizens on financial matters, improve access to services, and support economic growth.
She explained that the initiative is part of the Financial Sector Development Master Plan (2020/21–2029/30) and the Public Financial Literacy Program, which provides citizens with knowledge on savings, loans, investments, insurance, taxation, and personal finance management. Ms. Mjema emphasized that all training and education during the week are free to the public.
Tanga District Commissioner, Dadi Kolimba, speaking on behalf of the Regional Commissioner, Ambassador Dr. Batilda Burian, highlighted that the region received over TZS 3.1 trillion for development projects in the first phase of President Samia Suluhu Hassan’s government. Investments in Tanga Port, he said, have increased cargo handling, revenue, and employment opportunities.
Kolimba added that the region’s revenue rose to TZS 9.5 trillion in 2024, placing Tanga sixth nationally in the fight against poverty.
He noted that the region has 10 major banks and 355 microfinance institutions, with loans exceeding TZS 6.8 billion extended to women’s groups, youth, and persons with disabilities.
He acknowledged that limited financial literacy among some citizens remains a challenge, expressing hope that the National Financial Services Week will boost awareness and promote the proper use of financial services.