By Joseph Mahumi and Saidina Msangi, Dodoma
Tanzania is strengthening its defences against money laundering, terrorist financing and the financing of weapons of mass destruction as part of broader efforts to safeguard the integrity of its financial system and sustain renewed international confidence.
This was underscored in Dodoma after the Minister for Finance, Ambassador Khamis Mussa Omar, held talks with a delegation from the Financial Intelligence Unit (FIU), led by the Deputy Governor of the Bank of Tanzania (BoT), Sauda Msemo, who also chairs the National Committee of Experts on Anti-Money Laundering, alongside FIU Commissioner Majaba Magana.
The meeting, held at the Finance Minister’s office, focused on emerging risks related to illicit financial flows, terrorism financing and proliferation financing, as well as new digital strategies aimed at strengthening surveillance, detection and enforcement mechanisms.
Ambassador Omar commended the FIU and other stakeholders for their role in tightening controls against financial crimes, stressing that effective coordination among financial institutions, regulators and national security agencies was essential to protecting Tanzania’s economy.
“Tanzania’s financial system must remain secure, credible and resilient,” the minister said, noting that the fight against money laundering was critical not only for financial stability but also for attracting investment and sustaining economic growth.
Money laundering has long posed a challenge for Tanzania, largely due to its fast-growing economy, expanding financial inclusion, mobile money platforms, and its strategic position as a regional trade and logistics hub. Criminal proceeds linked to corruption, tax evasion, wildlife trafficking, narcotics trade and smuggling have in the past exposed gaps in oversight, particularly within cross-border transactions and informal financial channels.
However, authorities say significant progress has been made in recent years. Tanzania strengthened its legal and regulatory framework, enhanced customer due diligence requirements, improved reporting of suspicious transactions and increased cooperation with international partners.
Deputy BoT Governor Sauda Msemo told the meeting that Tanzania will host a major international gathering of the Egmont Group – the global network of Financial Intelligence Units – from January 26 to 30, 2026, in Arusha. The meeting will bring together experts from around the world to enhance cooperation and information-sharing in combating financial crimes.
She said hosting the meeting was a strong signal of Tanzania’s restored standing in the global anti-money laundering community.
The discussions also reviewed Tanzania’s recent removal from the Financial Action Task Force (FATF) “grey list” in June last year. The list identifies countries with strategic deficiencies in combating money laundering and terrorist financing. Tanzania’s exit from the list followed years of reforms and is widely seen as a major boost to investor confidence and correspondent banking relationships.
Officials say being removed from the grey list has already eased pressure on international transactions, reduced compliance costs for banks and strengthened trust in Tanzania’s financial system.
FIU Commissioner Majaba Magana noted that the agency was increasingly leveraging digital tools and data analytics to trace illicit financial flows, improve intelligence-led investigations and support law enforcement agencies.
The meeting was also attended by Deputy Minister for Finance Laurent Luswetula, Deputy Permanent Secretary in the Ministry of Finance Elijah Mwandumbya, and senior officials from the ministry and the FIU. As Tanzania positions itself as a regional economic and financial hub under its long-term development agenda, authorities say maintaining a robust anti-money laundering regime will remain a top priority – not only to meet international standards, but also to protect public resources and ensure sustainable development.
