The Foreign Exchange Regulations, GN No. 294 (the Regulations), were issued by the Governor of the Bank of Tanzania in May 2022. The Regulations was a much awaited update of the Foreign Exchange Regulations, 1998 and the Foreign Exchange (Listed Securities) Regulations, 2003, and the Foreign Exchange Circular No. 6000/DEM/EX.REG/58 of 24th September 1998 which regulated foreign exchange in Tanzania before the Regulations.
The Microfinance Act No. 10 of 2018 (“The Microfinance Act”) requires all microfinance service providers to obtain license to operate as such from the Bank of Tanzania (“BOT”) or any other regulatory body delegated by the BOT to issue such license. This requirement extends to the microfinance service providers who were operating before enactment of the Microfinance Act
Enforcement the Companies (Beneficial Ownership) Regulations, 2021 Defining the beneficial owner Mandatory registration of Beneficial Owners by Companies in Tanzania Timeline for registration of Beneficial Owners Time extension for registration of Beneficial Owners’s information 1.0 Introduction As part of the efforts to developing Tanzania in business and investment, but also as a means to regulate corruption […]
The Tanzanian economy is well known to be dependent on the Agriculture sector. Tanzania is well known to be among the leading Cashewnut producers in Africa. Areas known predominantly for Cashewnut cultivation include the southern coastal regions of the country, near the towns of Mtwara, Kilwa and Dar es Salaam. The Cashewnut Board of Tanzania (CBT) is entrusted with the responsibility of regulating the development of the Cashew Industry in Tanzania. In undertaking its mandated roles the CBT puts more emphasis in improving efficiency and effectiveness in the Cashewnut sub sector in order to meet requirements of different stakeholders thereby enabling them to contribute to the national development. The Board is established under section 3 of the Cashewnut Industry Act No.18 of 2009.