Financial institutions operating in Tanzania are increasingly strengthening their engagement with the Bank of Tanzania (BoT) to align with regulatory expectations and contribute more effectively to national economic priorities.

This trend was highlighted recently when Absa Bank Tanzania’s top executives paid a courtesy visit to BoT Governor Emmanuel Tutuba at the central bank headquarters in Dar es Salaam.  The meeting served as part of an ongoing collaborative effort between regulators and licensed financial entities aimed at enhancing sector resilience, governance, and inclusive growth.

Leading the Absa delegation, Managing Director Obedi Laiser, accompanied by Chief Operating Officer Oscar Mwamfwagasi and Acting Director of Compliance and Legal Alistides Kashasira, outlined the bank’s current performance, strategic outlook, and regulatory alignment initiatives. 

Their discussions covered key focus areas including data privacy and protection, emerging regulatory compliance, Environmental, Social, and Governance (ESG) priorities, and corporate social responsibility. Governor Tutuba welcomed the dialogue, reaffirming the BoT’s commitment to open engagement with all financial institutions. He emphasized the importance of public-private collaboration in safeguarding financial stability and accelerating national economic transformation.

“This type of regular engagement fosters mutual understanding, helps align institutional strategies with national development goals, and ensures that reforms benefit all stakeholders,” said Tutuba.
The central bank has in recent years encouraged licensed banks, financial institutions, and fintech companies to strengthen compliance, transparency, and operational resilience amid global shifts and domestic economic ambitions.

As Tanzania’s digital economy continues to grow, fintech companies are under increasing pressure to strengthen regulatory compliance and align with the broader financial system's stability and integrity goals.
The BoT, the country’s central regulatory authority, has taken proactive steps to create a supportive yet well-regulated environment for financial technology firms. 

With the rapid rise of digital lending, mobile wallets, payment gateways, and alternative finance platforms, regulators are increasingly focused on areas such as data protection, cybersecurity, know-your-customer (KYC), anti-money laundering (AML), and consumer protection.

The BoT has therefore introduced new licensing frameworks for payment service providers (PSPs), digital credit providers, and other fintech-related entities under the National Payment Systems Act and the Banking and Financial Institutions Act. These frameworks aim to formalize the operations of fintech firms, encourage transparency, and ensure proper risk management.

On his part, Laiser reaffirmed Absa’s commitment to supporting the BoT’s regulatory objectives: “Our purpose goes beyond banking. We are proud to be a trusted partner in Tanzania’s development journey, and we remain committed to operating with integrity, compliance, and shared value creation.”

Such engagements—be it through policy dialogues, courtesy visits, or industry consultations—highlight the evolving regulatory culture in Tanzania, one rooted in collaboration, innovation, and sustainable growth.