Dar es Salaam. The government, through the Tanzania National Business Council (TNBC) Executive Committee, has resolved to establish an International Financial Centre (IFC) to attract investors, improve access to capital, stimulate economic growth, and create jobs.
Speaking after the 38th TNBC Executive Committee meeting at State House in Dar es Salaam, Chief Secretary and TNBC Chairperson, Ambassador Dr Moses Kusiluka, said the decision aimed to improve the investment climate.
He stressed the government remained committed to working with the private sector to resolve investment bottlenecks.
“We agreed to establish an IFC to address investor challenges and enhance Tanzania’s competitiveness in attracting international capital,” he said.
Bank of Tanzania Governor Emmanuel Tutuba said Tanzania had reached a stage of development suitable for establishing and operating an IFC, based on a proposal from TNBC’s Finance Working Group.
He noted that six African countries, including Kenya and Rwanda, already host similar centres and Tanzania would become the seventh, with Dar es Salaam identified as the preferred location.
He said the IFC would enhance capital inflows, support financing of large-scale projects, improve access to finance for institutions and companies, and strengthen Tanzania’s global competitiveness, and deepen integration into regional and international financial markets, while facilitating cross-border investment opportunities and improving efficiency of capital allocation.
It would also promote knowledge and technology transfer, attract international experts, and help develop a skilled workforce in financial and business sectors, including banking, investment management, insurance, and fintech services, strengthening professional capacity and innovation across the economy over time, and significantly grow.
Mr Tutuba said Tanzanians would gain opportunities to learn from global experts, while ICT systems would enable efficient transactions even remotely.
He added that Tanzania meets key requirements, including stability, security, and a strong banking sector, and offers access to a 1.4 billion-person African market through EAC and SADC.
He said these fundamentals position the country as a competitive destination for global investors seeking long-term opportunities in emerging African markets, particularly in the infrastructure, energy, and manufacturing sectors. According to him, once approved, a legal framework would be enacted to safeguard investors and promote investment.
TNBC executive secretary, Dr Godwill Wanga, described the initiative as a long-awaited milestone for local and international business communities, saying it would boost capital flows, trade, and jobs, and accelerate private sector-led development, improve investment coordination, and support diversification of the economy over the medium term significantly.
He said it would strengthen private sector capacity and support economic growth in line with Vision 2050.
The meeting also agreed to introduce an awards system to recognise institutions contributing to national development and economic goals.
The decision follows recommendations from TNBC’s Finance Working Group in March 2026 to establish a specialised framework to attract investment and address investor challenges moving forward.
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