Tanzania has made notable progress in integrating with regional payment systems, a move expected to simplify financial transactions across borders and support economic growth, the Governor of the Bank of Tanzania, Emmanuel Tutuba, said on Friday.
Speaking on April 3, 2026 in Tangier, Morocco during a ministerial panel at the 58th session of the United Nations Economic Commission for Africa (ECA), Mr Tutuba said Tanzania’s participation in regional payment platforms is strengthening the country’s position within Africa’s financial network.
He said Tanzania is already connected to key regional systems, including the East African Payment System (EAPS) and the SADC Real Time Gross Settlement System (SADC RTGS).
“Commercial banks in Tanzania are also continuing to join the Pan-African Payment and Settlement System (PAPSS), which enables faster and more efficient financial transactions among African countries,” Mr Tutuba said.
He explained that stronger payment systems will help boost cross-border trade and deepen economic cooperation across the continent, noting that the progress reflects broader efforts to leverage financial technology to improve the financial sector.
Mr Tutuba said the development of such systems is partly driven by advances in financial technology (fintech), adding that the central bank is working to create an enabling environment for young innovators.
He said the Bank of Tanzania is supporting innovation through various platforms aimed at encouraging the development of digital solutions that can enhance access to financial services.
Commenting on the Tanzania Development Vision 2050, Mr Tutuba said fintech and digital innovation will remain important pillars in building a resilient, inclusive and competitive economy.
The ECA meeting brought together ministers responsible for finance, planning and economic development, as well as central bank governors from across Africa to discuss the continent’s economic outlook and strategies to strengthen financial systems.
