The National Business Council (TNBC) is preparing to launch an International Financial Services Centre in Tanzania to mobilise capital for major investment projects. The initiative is part of broader efforts to position the country as a regional financial hub and achieve long-term economic targets.
The initiative is being developed through TNBC’s finance working group and aims to boost investment flows into strategic sectors and support Tanzania’s economic growth ambitions. Speaking during the group’s second session held over the weekend, TNBC Executive Secretary Dr Godwill Wanga explained that the proposed centre is designed to mobilise capital for major development initiatives both inside and outside the country.
He noted that the centre would serve a broad range of financial and non-financial stakeholders, including banks, capital markets, and support service providers such as those in transport and hospitality, thereby enhancing the overall investment value chain.
Deputy Governor of the Bank of Tanzania (BoT), Sauda Msemo, said the centre fits the government’s long-term goal of increasing gross national income to USD 1 trillion by 2050. She added that with sufficient capital, the IFSC would become a platform for mobilising funding for critical infrastructure and industrial projects, while also supporting the growth of exports and strengthening foreign currency reserves.
Read more at: https://www.tanzaniainvest.com/finance/tnbc-international-financial-services-centre-plan
