Tanzania Removed from FATF Grey List, Boosting Investor Confidence
Tanga – Tanzania has significantly improved its position in the global financial system following its removal from the Financial Action Task Force (FATF) grey list, a development expected to strengthen investor confidence and streamline cross-border financial transactions.
Deputy Minister for Finance, Mr Laurent Luswetula, announced the milestone on Tuesday, January 20, 2026, during the opening of the National Financial Services Week at Usagara Grounds in Tanga City.
A recent FATF report—issued by the international body responsible for setting global standards on combating money laundering and terrorism financing—confirmed that Tanzania is no longer classified among jurisdictions under increased monitoring.
"The removal of Tanzania from the grey list is encouraging. It shows that the country has strengthened its financial systems and can now be trusted by international financial institutions," Mr Luswetula stated.
Countries on the FATF grey list are identified as having weaknesses in their financial regulatory frameworks. While not facing direct sanctions, these nations typically encounter stricter scrutiny from international banks, higher transaction costs, and delays in accessing foreign financing.
Removal from the list indicates improved compliance with international standards, facilitating easier access to investment, development financing, and international trade opportunities.
Mr Luswetula, officiating on behalf of Finance Minister Ambassador Hamis Omari Juma, directed the Bank of Tanzania to strengthen supervision of the financial sector to protect consumers and the informal economy, including small traders.
The improved status creates new opportunities for Tanzania’s financial sector to deepen integration with the global financial system and support development project implementation.
Treasury’s Deputy Permanent Secretary, Ms Dionisa Mjema, explained that the National Financial Services Week aims to enhance financial literacy through public exhibitions and outreach programmes.
Currently, 53 per cent of Tanzanians use financial services, and the government has established 12 key targets under the Financial Sector Master Plan to expand access nationwide. Tanga is the fifth region hosting the event after Dar es Salaam, Mwanza, Arusha, and Mbeya.
Bank of Tanzania Governor’s representative, Mr Kenned Komba, reported that the economy grew by 5.9 per cent in 2025 on the Mainland, while Zanzibar recorded 6.8 per cent growth.
The exhibitions provide education on bank loans, repayment procedures, financial discipline, and insurance services.
Acting Tanga Regional Commissioner, Mr Dadi Kolimba, highlighted that Tanga Port expansion has increased vessel handling capacity from 118 to 458, reduced cargo offloading time from eight days to two, and created 17,871 casual jobs, up from 6,630 previously.
Tanzania Investment Bank (TIB) Managing Director Mr Deogratius Kwiyukwa noted that development banks play a crucial role in achieving Vision 2050 by providing long-term financing to priority sectors.
