Tanzania's Ministry of Finance reported ongoing financial education outreach in Same District, Kilimanjaro Region, with officials advising residents to use only financial service providers that are properly licensed and registered. The messaging focused on consumer protection, including avoiding unsuitable borrowing and ensuring credit is obtained from institutions formally registered with the Bank of Tanzania. In engagements around the programme, Same District Commissioner Kasilda Mgeni called on local financial service providers to comply with applicable laws, regulations and guidelines by registering their services, warning that unlicensed operators and those charging excessively high interest rates could face legal action. The Ministry described the initiative as part of its Financial Sector Development Master Plan, which includes a target of reaching 80% of Tanzanians with financial education, and highlighted core themes such as building saving habits and improving household financial decision-making.
Ministry of Finance (Tanzania) 2025-02-13
Tanzania's Ministry of Finance continues financial education outreach and urges use of registered financial service providers
Tanzania's Ministry of Finance is conducting financial education outreach in Same District, emphasizing licensed financial service use and consumer protection. Part of the Financial Sector Development Master Plan, it aims to reach 80% of Tanzanians, focusing on saving habits and informed financial decisions. Local providers are urged to comply with regulations, with warnings against unlicensed operations and excessive interest rates.