The Bank of Tanzania (BoT) has announced the opening of applications for the 2025 FinTech Regulatory Sandbox program, with the first application window running from 2nd to 22nd January.
Subsequent application windows will be held quarterly throughout the year. Interested parties, including FinTech companies, financial institutions, mobile network operators (MNOs), and electronic money issuers (EMIs), are encouraged to submit their proposals via the BoT’s online portal: https://frsp.bot.go.tz/.
The initiative is designed to foster innovation and inclusivity in the financial sector by providing a controlled environment for testing emerging financial technologies and services.
According to the Bank, the Regulatory Sandbox allows for the development and testing of innovative financial products and services that do not yet fall under existing regulatory frameworks.
Applications will be evaluated based on the requirements set out in the Bank of Tanzania (Fintech Regulatory Sandbox) Regulations, 2024, with decisions communicated within 30 working days after the closing of each application window.
For further inquiries, applicants can reach out to the Bank of Tanzania via the following contacts:
- Dr. Sigsbert Rwiza: +255 713 998 593, sigsbert.rwiza@bot.go.tz
- Mr. Given Mhema: +255 711 788 830, given.mhema@bot.go.tz
- Mr. January Bura: +255 685 547 4952, january.bura@bot.go.tz
Tanzania’s FinTech Regulatory Sandboxes
A FinTech Regulatory Sandbox is a controlled environment where businesses test innovative financial products and services with real customers under relaxed regulatory conditions. The purpose is to foster innovation, ensure consumer protection, and help regulators understand emerging technologies for better policymaking.
Globally, regulatory sandboxes have proven effective in countries like the United Kingdom, where the Financial Conduct Authority (FCA) launched one in 2015. This initiative enabled fintech firms to test products safely, reducing time-to-market and compliance costs.
In Tanzania, efforts toward introducing a sandbox began in 2023 as the Bank of Tanzania (BoT) recognized the need to adapt regulations to the fast-evolving fintech sector. The groundwork included studying international best practices and consulting stakeholders to develop a framework suited to Tanzania’s financial landscape.
This led to the adoption of the FinTech Regulatory Sandbox Regulations, 2024, which were officially enacted under the Bank of Tanzania Act No. 4 of 2006. These regulations established a formal structure for fintech companies to test innovative products and services within a controlled regulatory environment.
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