TBA and TAFINA Partner to Boost Financial Inclusion Through Digital Innovation

The Tanzania Bankers Association (TBA) and Tanzania Fintech Association (TAFINA) have signed an MoU to drive financial inclusion through digital solutions, in line with the National Development Vision 2050.

TBA Executive Director Tuse Joune said the agreement marks a strategic alliance between banks and fintechs to expand access to financial services, especially for underserved groups like women, youth, rural communities, and people with disabilities.

“Our joint efforts will support the transition to a digital economy and help make financial services more accessible and affordable,” she noted.

TAFINA Engagement Manager Juliet Kiluwa emphasized the importance of collaboration in designing practical tech solutions that strengthen the financial sector and fuel economic growth.

Although Tanzania’s financial inclusion rate stands at 89%, only 22% use formal banking, according to the 2022 Finscope Survey. The partnership aims to bridge this gap by supporting national frameworks like the Financial Inclusion Strategy and Vision 2050.