Standard Chartered Bank has praised Tanzania after the global credit rating agency Moody’s Investors Service reaffirmed the country’s sovereign credit rating at B1 with a stable outlook, citing sustained improvements in economic management.
The commendation was delivered in Dar es Salaam by Standard Chartered Tanzania Chief Executive Officer Herman Kasekende during a meeting with the Minister for Finance, Khamis Mussa Omar.
The discussions focused on strengthening cooperation between the Government and the bank, with particular attention to financing strategic infrastructure projects, including the Standard Gauge Railway (SGR).
Mr Kasekende said Tanzania has continued to post strong performance in managing its economy, noting progress in controlling inflation, stabilising the shilling, expanding export earnings and maintaining prudent public debt management.
He said these achievements place Tanzania among the better-performing economies in sub-Saharan Africa.
Moody’s assessment highlights Tanzania’s resilience despite global and regional economic pressures, recognising reforms implemented under the Sixth Phase Government led by President Samia Suluhu Hassan.
The reforms span key economic and social sectors and have contributed to strengthening macroeconomic stability and investor confidence.
Tanzania was rated for the first time by Moody’s in 2023, when it received a B2 score. Following continued economic and social reforms, the rating was upgraded to B1 in 2024.
The B1 rating is expected to improve Tanzania’s access to international capital and debt markets at lower costs while enhancing the country’s attractiveness to foreign investors.