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Tether Signs MoU to Advance Financial Inclusion in East Africa
2.7.2025
Stablecoin issuer Tether has partnered with the Zanzibar e-Government Authority (eGAZ) to advance digital asset education and drive financial innovation in developing regions. Advancing Financial Literacy Stablecoin issuer Tether has signed a pivotal Memorandum of Understanding (MoU) with...
Tanzanian Shilling’s 8.9% YTD Drop Earns It World’s Worst-Performing Currency Status
20.3.2025
The Tanzanian shilling has experienced a significant decline, becoming the world’s worst-performing currency this year, dropping 8.9%. At the time of writing, the currency’s exchange rate against the U.S. dollar stood at 2,645 per dollar, a level last seen in late November 2024. This...
Crypto Scammers Target Tanzanian Billionaire’s Followers, Net $1.48M
10.2.2025
Tanzanian billionaire Mohammed Dewji’s social media account was recently hacked by crypto scammers who promoted a fake digital asset, the “Tanzania token.” Tanzania Token The social media account of Tanzanian billionaire Mohammed Dewji was recently hacked by crypto scammers,...
Zanzibar’s new blockchain sandbox aims to drive tech startup growth
23.10.2024
The semi-autonomous region of Tanzania is taking advantage of a sandbox regulatory framework adopted in July
Zanzibar’s new blockchain sandbox aims to drive tech startup growth
23.10.2024
The semi-autonomous region of Tanzania is taking advantage of a sandbox regulatory framework adopted in July
Central Bank of Tanzania to Hoard 20% of Total Gold Exports
1.10.2024
The Central Bank of Tanzania will purchase 20% of all the gold directed for exports as the country prepares to diversify its reserves. The movement is seen as a reaction to the current acceleration of gold prices, with Tanzania aiming to amass at least 6 tones of gold this financial year. Mining...
Tanzania Reportedly Blocks X Amid Opposition Crackdown
1.9.2024
The East African nation of Tanzania has reportedly restricted access to the social media platform X (formerly Twitter). This ongoing outage has been confirmed by Netblocks, an internet observatory organization. The incident coincides with a police alert regarding alleged plans by the opposition...
Binance Launches Mobile Money Feature for Crypto Transactions in Africa
23.8.2024
Crypto exchange Binance has launched its One Click Buy and Sell (OCBS) service in Africa, enabling users in Ghana, Tanzania, Uganda, and Zambia to buy and sell cryptocurrencies via mobile money accounts. This initiative aims to enhance financial inclusion, particularly for the unbanked...
Tanzania Seeks to Shore up Local Currency With Directive Mandating Tourists to Use Shillings
17.7.2024
Tanzania’s Ministry of Tourism and Natural Resources has mandated that all fees in the tourism sector must be paid in local currency, aligning with a government directive for local transactions to use the country’s shillings. This requirement applies to Tourism Business Licence fees, filming...
Tanzania Fintech Startup Nala Secures $40 Million via Series A Round
11.7.2024
Tanzanian fintech startup Nala recently secured $40 million in a Series A funding round led by San Francisco-based venture capital firm Acrew Capital. The funds will be used to bolster Nala’s business-to-business (B2B) payment platform and support its overall growth plans. New Funding...
Tanzania Targets Crypto Traders With Proposed Income Tax Act Amendment
18.6.2024
Tanzania plans to amend its Income Tax Act to tax crypto trades. The proposal includes a three per cent withholding tax on income from digital asset transactions. Digital platform owners or facilitators of digital asset transfers will act as withholding agents. Foreign citizens operating such...
Bitcoin builder climbs Africa's tallest mountain to raise awareness
30.10.2023
Advocates for the Bitcoin Lightning Network and decentralized protocol NOSTR fueled Kweks' Kilimanjaro climb
Tanzanian Central Bank Launches Foreign Exchange Reserves Boosting Gold Buying Scheme
27.9.2023
The Bank of Tanzania said on Sept. 25 that it has kickstarted an initiative that seeks to boost the country’s foreign exchange reserves by buying gold with local currency. The bank said its objective is to acquire six tonnes of gold from miners and traders in 2023 alone. The Tanzanian Gold...
Africa’s Crypto Market Grew by 1,200% Between 2020 and 2021 — Study
1.7.2023
Between the years 2020 and 2021, Africa’s cryptocurrency market grew by more than 1,200% while Kenya, Nigeria, South Africa, and Tanzania now all feature in the global top 20 for crypto adoption, according to the latest Emurgo State of Web 3.0 in Africa report. Africa’s Share of Global...
Tanzanian Central Bank Says Quoting Prices in Foreign Currency Against the Law
24.6.2023
The Bank of Tanzania (BOT) has reiterated that shillings remain the East African country’s sole legal tender. The apex bank said residents quoting prices in foreign currency or those refusing payment in Tanzanian shillings are in violation of the Bank of Tanzania Act 2006. The central bank...
Tanzanian Central Bank Says Forex Restrictions Intended to ‘Safeguard the Stability of the Financial System’
3.6.2023
The Tanzanian central bank said on May 31 that foreign currency dealers are required to trade all transactions that exceed $1,000,000 within “interbank foreign exchange market prevailing quoted prices.” According to the Bank of Tanzania, the latest directives are intended...
Tanzanian Central Bank Adopts ‘Phased and Risk-Based Approach to Adoption of CBDC’
17.1.2023
After months of research, the Tanzanian central bank announced recently that it had chosen a more cautious and risk-based approach towards the adoption of its central bank digital currency (CBDC). During the research phase, the central bank said it paid particular attention “to risks...
Tanzania ‘cautious’ on CBDC adoption after initial research
16.1.2023
The Bank of Tanzania is waiting for the conclusion of its research into CBDCs before making a final decision on adoption
Report: Tanzania Closer to Launching a CBDC
12.5.2022
Tanzania is getting closer to launching a central bank digital currency (CBDC) which gives the country’s residents a “safe alternative,” the central bank governor has said. However, no date for the digital currency launch has been given. Growing Interest in Cryptocurrencies...
Tanzania Officials Want Global Clarity on CBDCs and Crypto Assets
11.4.2022
Officials from Tanzania’s financial sector have called for a clearer global consensus on central bank digital currencies (CBDCs) and crypto-assets. The officials agreed that more discussions still need to be carried out before a final decision is made. Interoperability of CBDCs Just under...