Tanzania embarked on financial liberalization in 1992 in order to sustain its economic growth. This has been done by mobilizing financial resources, increasing competition in the financial market and enhancing quality and efficiency in credit allocation. As a result, the sector has been booming, particularly during the last few years.
As a result of the liberalization, the banking sector in Tanzania has been booming, particularly over the last few years and new merchant banks, commercial banks, bureaus de change, credit bureaus and other financial institutions have entered the market.
With a total of 56 licensed banks and other non-banking financial institutions, which are not allowed to open current accounts, the market is characterized by a few big players and several small banks, and increasing competition.
The insurance penetration in Tanzania, i.e. the contribution of insurance to National Gross Domestic Product remains very limited, paving the way for plenty of room for further growth.
The Tanzania insurance sector is growing steadily, with 30 insurance companies and 112 insurance brokers currently active in the market.
The securities market in Tanzania also emerged in the 1990s as a result of the government policy of liberalizing the financial sector.
Within such framework, the Capital Markets and Securities Authority (CMSA) was established in 1994 and the Dar es Salaam Stock Exchange (DSE) was incorporated.
To date, there are 21 companies listed at the DSE, for a total market capitalization of TZS 20,186.48 billion, (December 18th, 2015).
TanzaniaInvest had the pleasure of interviewing Ineke Bussemaker, MD and CEO of the National Microfinance Bank (NMB), Tanzania.
Tanzanian mobile network operator (MNO) Vodacom has started today its IPO for 560 million shares at TZS 850 per share.
Tanzania’s Deputy Minister of Finance and Planning, Dr. Ashatu Kijaji (centre), Stanbic Bank Tanzania Board Chairman Hatibu Senkoro (left) and the bank’s Chief Executive Ken…
TanzaniaInvest had the pleasure of interviewing for the second time Ms. Tusekile Kibonde, Resident Underwriter for Tanzania at the African Trade Insurance Agency (ATI) to…
Stanbic Bank Tanzania has launched a new suite of mobile payments and collection solutions designed to make cash collections and payments more efficient for organizations,…
The President of Tanzania, Hon. Dr. John Pembe Magufuli, has appointed Dr. Baghayo Abdallah Saqware Commissioner of Insurance of the Tanzania Insurance Regularity Authority (TIRA)…
TanzaniaInvest had the pleasure of interviewing Mr. Rajab S. Kakusa, CEO of TAN-RE, the only reinsurance company licensed in Tanzania.
The Dar es Salaam Stock Exchange (DSE) closed on Friday, February 24th, 2017 with a total market capitalization of TZS20,079.40, compared to TZS19,952.80 on Friday, February 17th, 2017 (+0.63%).
The Dar es Salaam Stock Exchange (DSE) closed on Friday, February 17th, 2017 with a total market capitalization of TZS19,952.80, compared to TZS18,974.80 on Friday, February 3rd, 2017 (+5.15%).