By Costantine Muganyizi
Tanzania has recorded further progress in financial inclusion, with the country’s Financial Inclusion Index (TanFiX) rising from 0.81 in 2024 to 0.83 in 2025, according to the newly published Annual Financial Inclusion Report 2025 by the Bank of Tanzania (BoT).
The improvement provides a fresh measure of Tanzania’s progress under the Third National Financial Inclusion Framework (NFIF3) 2023–2028, while highlighting the growing role of digital finance, financial technology, wider service networks and consumer protection in bringing more citizens and businesses into the formal financial system.
Presenting the report on behalf of the National Council for Financial Inclusion (NCFI), its Chairperson and Bank of Tanzania Governor, Emmanuel Tutuba (pictured below), said the latest results reflected a collective national effort to ensure that financial inclusion translates into tangible improvements in people’s livelihoods.
“This year’s (2025) report reflects the remarkable progress Tanzania has made in implementing the Third National Financial Inclusion Framework (NFIF3) 2023–2028,” Mr Tutuba said, stressing the commitment to ensuring that every Tanzanian can access and effectively use “quality, affordable financial products and services that improve livelihoods and promote inclusive economic growth.”
The 2025 performance was supported by an expansion of financial access points, particularly mobile money agents, banking agents, microfinance institutions and community microfinance groups.
The expansion was reinforced by improvements in ICT infrastructure, greater interoperability of national identification systems and increased rural electrification, developments that have helped extend the reach of formal financial services beyond traditional banking centres.
For Tanzania’s wider economic transformation agenda, the significance of the 0.83 score lies not merely in the number of people gaining access to financial services, but increasingly in whether they can use those services effectively, affordably and safely.
Innovation emerged as another major driver of progress during 2025.
According to Mr Tutuba, the expansion of digital financial services improved “convenience, accessibility, and affordability,” while regulatory measures – including the FinTech Regulatory Sandbox and strengthened financial consumer protection frameworks – helped reinforce trust, transparency and market integrity.
The emphasis on consumer protection and financial literacy marks an important evolution in Tanzania’s financial inclusion agenda. The objective is increasingly to ensure that citizens are not simply connected to formal financial services, but have the knowledge and confidence to make informed financial decisions.
“This year’s progress was made possible through the strong collaboration of government institutions, regulators, financial service providers, development partners, and civil society organisations,” Mr Tutuba said.
However, the report also presents a cautionary message: access alone is not enough.
Tanzania continues to face challenges in increasing active usage of formal financial services, improving the quality of financial products and services, strengthening the financial wellbeing of individuals and businesses, and accelerating adoption of innovative digital financial services.
These challenges are particularly important as Tanzania seeks to deepen digitalisation and move progressively towards a cashless economy, while implementing its broader long-term development agenda under Dira 2050.
Mr Tutuba said overcoming the remaining gaps would require “sustained innovation, targeted policy and regulatory interventions, and strengthened partnerships” to build a financial ecosystem that is resilient, inclusive and sustainable. The publication of the 2025 report therefore represents more than an annual statistical update. It provides government, regulators, financial institutions, technology companies, development partners and other stakeholders with an evidence base for assessing what is working, identifying underserved segments and shaping the next phase of financial inclusion interventions.
