The Financial Sector Deepening Trust (FSDT) is a market development program which seeks to systemically change how the financial market works for poor people, and thereby contribute to increased financial inclusion. Ultimately,
FSDT aims to increase access and usage of financial services so that people on low incomes can grow and manage their finances.
By reducing poverty, Tanzania can increase the number of people contributing to its economic development. In addition to its existing work of market facilitation, promoting a wide range of financial instruments to spur innovation and development of the financial system, promoting thought leadership and usable evidence to generate innovative solutions and evidence and generation sharing, the FSDT pushes for improved policy and regulatory frameworks to improve access to and usage of financial services.
The FSDT works to improve the capacity and sustainability of Tanzania’s financial sector to meet the needs of individuals, as well as micro, small and medium-sized businesses and smallholder farmers. FSDT is a partner in driving the Financial Inclusion Strategy for Tanzania (National Financial Inclusion Framework) with a target for usage of formal financial services of 75% by 2022. Evidence generation is a cornerstone of the FSDT’s work, both to diagnose the status of financial inclusion in the country, and to support the building of contextually appropriate solutions in the Tanzanian market.