Kitomari Banking & Finance Blog is a premier site for banking, finance, business, economic, investment and stock market news as well as selected informative articles from Tanzania, East Africa and the rest of the World. We operate 24 hours a day, 365 days a year with complete context, perspective and precision.
Friday, 4 April 2025
DStv TANZANIA YAZINDUA KAMPENI YA "WAFALME WA LOKO, USIKANYAGE WAYA"
The Makeover – Shindano la kusisimua la urembo linalowashindanisha wasanii bora wa mapambo nchini Tanzania katika safari ya kushindania taji la Best Make-Up Artist. Kipindi hiki kitaanza rasmi Alhamisi, 25 Aprili 2025, saa 2:00 usiku kupitia Maisha Magic Bongo (DStv Channel 160), kikionesha vipaji vya kipekee na ubunifu unaoongoza sekta ya mapambo nchini na kuongozwa na majaji mahiri akiwemo Jacqueline Wolper, Alma Bronxi, Martin Kadinda, Cicie na mtangazaji maarufu Annie Independent.
FOUR START-UPS WIN THE 2025 ADAPTATION & RESILIENCE CLIMACCELERATOR
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Ms. Sophie White, Senior Programme Manager, Innovation and Emerging Markets at Climate-KIC addresses the audience during the Demo Day at Hyatt Regency, Dar es Salaam, 3rd April 2025. |
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The Four successful StartUps, receiving their 10,000 Euros each after a giving out pitches during the demo day at Hyatt Regency, Dar es Salaam, 3rd April 2025. |
Dar es Salaam, 3 April 2025: Climate-KIC, in collaboration with SmartLab, is thrilled to announce the winners of the 2025 Adaptation & Resilience ClimAccelerator Programme. Following a successful Demo Day, Rada 360, Mbegu Nzuri Biotech Farms, InsectUp, and HERVEG.05 emerged as the four selected for their innovative climate adaptation solutions, addressing critical challenges such as unpredictable climate risks for farmers, lack of access to climate-resilient seeds, poor organic waste management, and malnutrition in rural communities.
The Adaptation & Resilience ClimAccelerator supported 10 promising start-ups tackling climate adaptation and resilience across diverse sectors. These ventures are driving high-impact solutions that protect people, livelihoods, expert support, alongside valuable connections with investors and industry leaders to strengthen their climate-focused innovations. A defining feature of the program was the Adaptation and Resilience Innovation Assessment and Validation Process, developed by Climate-KIC. This rigorous framework equips start-ups with the tools to measure, validate, and communicate the impact of their climate solutions to potential investors. Through structured assessments, expert-led validation and investor-ready credentials, start-ups can strengthen their market positioning, ensuring their solutions not only innovate but also deliver tangible climate resilience benefits in Tanzania.
The program reached a significant milestone on 3 April 2025 with the Demo Day held at the Hyatt Regency in Dar es Salaam, where participating start-ups presented their solutions to a distinguished panel of judges. After an impressive showcase, four standout start-ups were selected as program winners, marking a pivotal step in their journey to scale climate resilience solutions for vulnerable communities across Tanzania.
Thursday, 3 April 2025
NBC YAINGIA USHIRIKIANO NA TAFINA KUBORESHA TEKNOLOJIA YA UTOAJI HUDUMA ZA FEDHA
Dar es Salaam, April 3, 2025: Benki ya Taifa ya Biashara (NBC) imesaini makubaliano ya ushirikiano na Umoja wa Makampuni yanayotoa Huduma za Kifedha kupitia Teknolojia Tanzania (TAFINA) ikiwa ni muendelezo wa jitihada za benki hiyo kuongeza kasi ya ukuaji wa teknolojia katika utoaji wa huduma za kifedha sambamba na kuchochea uchumi jumuishi kupitia huduma za kifedha zilizorahisishwa kupitia teknolojia.
Hafla ya utiaji saini makubaliano hayo imefanyika mapema leo jijini Dar es Salaam ikihusisha wawakilishi kutoka taasisi hizo mbili. Mkurugenzi wa Biashara Benki ya NBC Bw, Elvis Ndunguru na Mwenyekiti wa TAFINA Bi Cynthia Ponera waliziwakilisha taasisi hizo mbili kwenye makubaliano hayo yaliyosainiwa kwa mara ya kwanza baina ya TAFINA na taasisi ya kifedha nchini.
Akifafanua kuhusu makubaliano hayo Bw Ndunguru alisema pamoja na mambo mengine yanatoa fursa ya ushirikiano baina ya benki hiyo na makampuni yanayotoa huduma za kifedha kupitia Teknolojia nchini hatua ambayo kwa kiasi kikubwa itachochea kasi ya uboreshwaji wa mfumo wa malipo ya kidijitali na ujumuishi wa kifedha na uimarishaji wa uzingatiaji wa kanuni za kifedha miongoni mwa makampuni hayo.
BAHATI NASIBU YA TAIFA NA SELCOM WAUNGANA KURAHISISHA UCHEZAJI BAHATI NASIBU NCHINI
Pia washiriki wa bahati nasibu ya taifa wataweza kununua tiketi na kupokea malipo ya ushindi kupitia majukwaa ya fedha kwa njia ya simu, USSD, hamisho kutoka benki, vituo vya malipo ya Selcom, na miamala ya kidijitali. Aidha, upatikanaji wa Selcom katika taasisi mbalimbali za kifedha utahakikisha kuwa hata wale wanaoishi maeneo yasiyofikika kiurahisi wanaweza kushiriki kikamilifu katika michezo ya bahati nasibu ya taifa.
TANZANIA BANKING DEPOSITS HIT TZS 67 TRILLION IN FOUR YEARS

Dar es Salaam: Tanzania's banking sector has remained resilient, with total deposits across all banks reaching around 67tri/-, driven by the country’s steady economic performance over the past four years.
According to the Director of Financial Markets at the Bank of Tanzania (BoT) Mr Emmanuel Akaro, this growth reflects the trust and confidence individuals and businesses have in the banking system, underscoring the sector’s vital role in economic development.
“With a robust deposit base, the banking sector is well-positioned to finance investments, support economic activities and enhance financial inclusion, ultimately driving sustainable national development,” he stated.
Furthermore, the banks’ capital adequacy has risen by 21 per cent above the 10 per cent minimum threshold set by the Central Bank, while non-performing loans have significantly dropped from 9 per cent in 2020 to 3.3 per cent in 2025.
During the review period, return on equity increased to 25 per cent, while return on assets surpassed 6 per cent.
Mr Akaro, representing the central bank chief, spoke at the second ‘Tanzania Institute of Bankers (TIOB) Scholar Banking Challenge 2025,’ in Dar es Salaam yesterday.
The competition, organised for the second time by TIOB, aims to equip university students with financial literacy and enhance their understanding on banking and financial systems.
Starting yesterday, the competition will run for three months, concluding in July this year.
“Overall, I can describe our banking sector as strong, steady and resilient. This is reflected in the substantial loans granted to the private sector and the significant profits reported by banks,” said Mr Akaro.
Mr Akaro further explained that the banking sector has seen a 30 per cent increase in liquidity, enabling substantial loan disbursements to the private sector.
According to the Director of Financial Markets at the Bank of Tanzania (BoT) Mr Emmanuel Akaro, this growth reflects the trust and confidence individuals and businesses have in the banking system, underscoring the sector’s vital role in economic development.
“With a robust deposit base, the banking sector is well-positioned to finance investments, support economic activities and enhance financial inclusion, ultimately driving sustainable national development,” he stated.
Furthermore, the banks’ capital adequacy has risen by 21 per cent above the 10 per cent minimum threshold set by the Central Bank, while non-performing loans have significantly dropped from 9 per cent in 2020 to 3.3 per cent in 2025.
During the review period, return on equity increased to 25 per cent, while return on assets surpassed 6 per cent.
Mr Akaro, representing the central bank chief, spoke at the second ‘Tanzania Institute of Bankers (TIOB) Scholar Banking Challenge 2025,’ in Dar es Salaam yesterday.
The competition, organised for the second time by TIOB, aims to equip university students with financial literacy and enhance their understanding on banking and financial systems.
Starting yesterday, the competition will run for three months, concluding in July this year.
“Overall, I can describe our banking sector as strong, steady and resilient. This is reflected in the substantial loans granted to the private sector and the significant profits reported by banks,” said Mr Akaro.
Mr Akaro further explained that the banking sector has seen a 30 per cent increase in liquidity, enabling substantial loan disbursements to the private sector.
BENKI YA EXIM YAWEZESHA WATUMISHI WA UMMA KUPATA MIKOPO KUPITIA ‘UTUMISHI PORTAL’
3 Aprili 2025, Dar es Salaam: Katika hatua ya kimkakati kusaidia wafanyakazi wa serikali kufikia malengo yao ya kifedha, Benki ya Exim Tanzania inajivunia kutangaza maboresho katika huduma yake ya "Wafanyakazi Loan" ambayo sasa inajumuisha suluhisho la uchukuaji wa mikopo.
Benki ya Exim imekuwa taasisi ya kwanza ya kifedha nchini Tanzania kuwezesha uchukuaji wa mikopo kwa wafanyakazi wa sekta ya umma kutoka taasisi zingine kupitia mfumo wa Utumishi Portal (ESS). Huduma hii ya kipekee inalenga kuwapatia watumishi wa umma masharti bora ya mikopo, uharaka wa upatikanaji wa fedha, na urahisi wa huduma kupitia jukwaa hili bunifu.
Mkuu wa Idara ya Wateja Wadogo na Kati kutoka Benki ya Exim Tanzania, Bw. Andrew Lyimo, alisisitiza kuwa lengo kuu ni kuhakikisha wafanyakazi wa serikali wanapata suluhisho bora za kifedha. "Lengo letu ni kuwapatia wafanyakazi wa serikali huduma za kifedha zinazobadilisha maisha yao kimaendeleo. Kwa kuwachukulia mikopo yao kutoka taasisi nyingine, tunalenga kupunguza mzigo wao wa kifedha na kuwapatia masharti nafuu zaidi ya marejesho yanayolingana na mahitaji yao ya kifedha," alisema Bw. Lyimo.
Wafanyakazi wa serikali sasa wanaweza kupata mikopo ya hadi TZS milioni 200, yenye muda wa kurejesha hadi miaka 10 (miezi 120). Kupitia ‘Wafanyakazi Loan’, Benki ya Exim inawawezesha watumishi wa umma kupata mtaji wa kifedha unaowawezesha kuanzisha au kupanua biashara zao, hivyo kujiongezea vyanzo vya mapato zaidi ya mishahara yao.
Bw. Lyimo aliongeza: "Tunatambua changamoto za kifedha zinazowakabili waajiriwa wa serikali, na kupitia mpango huu, tunalenga kuwasaidia kupata utulivu wa kifedha."
Wednesday, 2 April 2025
NMB YADHAMINI NA KUSHIRIKI UZINDUZI WA MBIO ZA MWENGE WA UHURU 2025


Leo Aprili 02, 2025, Benki ya NMB imedhamini na kushiriki uzinduzi wa Mbio za Mwenge wa Uhuru 2025 kitaifa uliofanyika katika viwanja vya Shirika la Elimu Kibaha, mkoani Pwani.
Benki ya NMB, ikiwakilishwa na Meneja wa Kanda ya Dar es Salaam, Seka Urio, inaendelea kuwa mdau muhimu katika matukio ya kitaifa yenye lengo la kuhamasisha amani, mshikamano, na maendeleo.
HIGHLIGHTS ON THE NEW REGULATIONS ON FOREIGN CURRENCY USAGE IN TANZANIA
The Minister of Finance has issued the long-anticipated regulations on usage of foreign currency in Tanzania, GN 198 of 2025 effective as of 28 March 2025. These regulations follow amendments introduced in the Finance Act of 2024 which introduced an amendment to the Bank of Tanzania Act which sought to reinforce the use of Tanzanian Shillings (TZS) for domestic transactions by prohibiting use of foreign currency in local transactions.
Summary of key provisions
Exceptions
The regulations allow some transactions to be conducted in foreign currency, including:
Summary of key provisions
- All goods and services must be priced and transacted in TZS.
- Publishing prices, invoicing, or demanding payment in foreign currency is prohibited.
- Refusing to accept TZS for payment is an offense.
- Contracts for goods and services in Tanzania must be in TZS, unless they fall under specified exceptions.
- Existing contracts denominated in foreign currency must be amended within 12 months to comply. Otherwise, they become void unless an extension is granted by the Minister of Finance, and such extension may not exceed the existing tenure of the contracts.
The regulations allow some transactions to be conducted in foreign currency, including:
- Payments by the Government of Tanzania to regional organisations that are in Tanzania.
- Transactions involving diplomatic missions and "international organisations". The Kiswahili text of the legislation seemingly creates an ambiguity on what constitutes “international organisations” – one could say "international corporation" or "multinational company", although I the exemption should probably be construed as international organisations linked to diplomatic missions.
- Foreign currency loans issued by local banks and financial institutions.
- Purchases at duty-free shops.
Implications for Businesses
Businesses with foreign investors, international suppliers, or foreign-denominated contracts, must now reassess their pricing, invoicing, and contractual arrangements to comply with the regulations.
Businesses with foreign investors, international suppliers, or foreign-denominated contracts, must now reassess their pricing, invoicing, and contractual arrangements to comply with the regulations.
What actions can businesses take?
- Review and amend contracts. Any existing contracts denominated in foreign currency must be renegotiated into TZS within the next 12 months.
- Reassess pricing and payment structures. Businesses that previously quoted prices in USD must adjust to TZS pricing.
- Formulate strategy to communicate these changes early to your customers, suppliers and investors in order to manage disruptions.
- Seek regulatory guidance from your legal, finance and tax advisors and formulate solutions around the guidance.
UGANDA SIGNS $4 BILLION HOIMA OIL REFINERY PROJECT AGREEMENT
Location: Kabaale, Buseruka Sub-County, Hoima District, Uganda.
Capacity:
- Planned for 60,000 barrels of oil per day (bopd).
- Proposed development in two phases of 30,000 bopd.
- To boost Uganda’s energy security by reducing reliance on imported petroleum products.
- To serve the petroleum product markets in Uganda and neighboring countries.
- 60,000-barrel refinery in Kabaale.
- Mbegu Water Intake and water pipeline.
- 211 km multi-product pipeline to a storage terminal in Namwabula, Mpigi District.
- Storage terminal for refined products in Namwabula.
- Estimated project cost: approximately $4 billion.
- As of late 2024, Uganda has chosen to fully finance the refinery through equity.
- The refinery is planned to process crude oil from Uganda’s Albertine Graben region, which holds significant oil reserves.
- The project has included land aquisition, and a Resettlement Action Plan (RAP) for affected people.
- The project has gone through feasibility studies, and Front-End Engineering Design (FEED) approvals.
- The refinery will be a Residue Fluid Catalytic Cracker (RFCC) type.
- Hoima–Kampala Petroleum Products Pipeline: This pipeline will transport refined products from the Hoima refinery to a distribution terminal near Kampala.
”We must stop the exportation of raw materials and instead add value to everything we produce as a country.”
STANBIC YAUNGA MKONO BIASHARA NA USHIRIKIANO WA KIKANDA KATIKA MKUTANO WA EACCS 2025
- Stanbic Tanzania imethibitisha tena dhamira yake ya kusaidia kukuza biashara, kufadhili miundombinu, na ushirikiano wa kikanda wakati wa huu nyeti wa usafirishaji shehena na uchukuzi kwa ujumla
- Benki hii ya tatu kwa ukubwa wa faida inayo masuluhisho ya kifedha ya kuboresha ufanisi wa uchukuzi, kupanua wigo wa masoko, na kuhamasisha fursa za kibiashara nje ya nchi
- Kushirikiana na wafanybiashara na Serikali kuifanya Tanzania kuwa kitovu cha biashara na uchukuzi barani Afrika
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Stephen Mpuya, Mkuu wa Kitengo cha Bidhaa kwa Biashara, Benki ya Stanbic akizungumza kwenye Mkutano wa Wadau wa Usafirishaji Afrika Mashariki uliofanyika Alhamisi wiki iliyopita Jijini Dar es salaam. |
Uwekezaji na ushirikiano wa wadau mbalimbali, hasa katika kuboresha miundombinu na kufadhili upatikanaji wa mitaji, umewezesha kuunganisha wafanyabiashara kutoka mataifa tofauti wa eneo hili na kuimarisha nafasi yake kama lango kuu la biashara katika nchi za Afrika Mashariki, Kati, na Kusini mwa Afrika.
Benki ya Stanbic Tanzania, taasisi inayoongoza katika ufadhili wa biashara na uwekezaji katika miundombinu, imethibitisha utayari wake wa kuwa sehemu ya maono haya ya Tanzania wakati wa Mkutano wa East Africa Cargo Connect Summit (EACCS) 2025 uliofanyika jijini Dar es Salaam mwishoni mwa wiki jana.
Kupitia kaulimbiu ya “Tanzania: Kinara wa Mustakabali wa Kuunganisha Mitandao ya Biashara Mashariki na Kusini mwa Afrika,” mkutano wa EACCS 2025 ulisisitiza umuhimu wa kuboresha miundombinu, kuwezesha upatikanaji wa ufadhili unaofaa, na kutekeleza sera za biashara zinazowezesha miamala ya biashara kufanyika bila vikwazo kati ya mataifa mbalimbali.
Benki ya Stanbic imekuwa kiongozi katika kusaidia wafanyabiashara kushindana kwa ufanisi katika masoko ya kikanda na kimataifa. Kupitia ushirikiano na serikali na sekta binafsi, tunatoa masuluhisho maalum ya kifedha yanayolenga kukabiliana na mahitaji yanayobadilika ya sekta ya uchukuzi na usafirishaji wa shehena.
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