By Asia Singano and Jordan Mbwambo, Dodoma
The Government, through the Ministry of Finance, is continuing to implement key reforms aimed at strengthening the financial sector, improving access to finance, and enhancing the role of the private sector in driving economic growth.
This was highlighted by the Deputy Minister for Finance, Engineer Mshamu Ali Munde, when he held discussions with a delegation from ECOBANK Group during a courtesy visit to his office at Treasury Square in Dodoma.
Eng. Munde said the Government recognises the critical role played by financial institutions in stimulating economic growth through various forms of financing, including providing capital to productive and investment sectors of the economy.
He noted that ongoing reforms are focused on strengthening long-term capital mobilisation for infrastructure and strategic sectors, expanding business financing, enhancing digital financial services to promote inclusion, and developing innovative financial solutions tailored to market needs.
“These efforts include mobilising long-term capital for infrastructure and strategic sectors, expanding business financing, increasing digital financial services to enhance inclusion, and providing innovative financial solutions,” said Eng. Munde.
The Deputy Minister stressed that achieving a strong and resilient economy requires active participation of the financial sector, particularly in financing strategic projects that directly impact citizens’ livelihoods.
“The Government continues to improve the investment environment to enable financial institutions to fully participate in national development, while also ensuring that financial services reach more stakeholders across the country,” he added.
On his part, ECOBANK Group Chief Executive Officer, Mr Michael Larbie, reaffirmed the institution’s commitment to working closely with the Government in advancing development projects through efficient and impactful financial services.
He emphasized the importance of strengthening financial systems and fostering innovation in lending and financial service delivery, noting that such measures are essential for boosting investment and overall economic activity in the country.
The meeting was attended by senior officials from the Ministry of Finance, including Acting Commissioner for Financial Sector Development, Ms Dionisia Mjema, alongside other government officials and representatives from ECOBANK Group. The engagement underscores Tanzania’s continued efforts to deepen financial sector reforms and strengthen partnerships with private financial institutions as part of its broader economic transformation agenda.
