Policies & Regulations
To improve policies, legal and regulatory frameworks that promote gender equality, as well as economic and financial opportunities for women and youth.
We advocate to enhance policies, legal and regulatory frameworks that promote gender equality and increase economic and financial opportunities for women and youth.
This involves collaborating with Government ministries, agencies and other stakeholders to support policy, legal and regulatory reforms, and national financial sector strategies that remove structural barriers that hinder the establishment and growth of women and youth-owned enterprises.
We collaborate with these partners to enhance the business environment of the financial sector by improving and increase access and usage of financial services by women and youth. To achieve this, we review existing policies, regulations, and frameworks to address market gaps and develop new policies, laws, and frameworks relevant to the market constraints.
Development Of New Fintech Policy And Regulatory Framework
Whose Lives Are We Trying To Improve?
The beneficiaries of this initiative are the stakeholders in the Fintech sector, including fintech companies, entrepreneurs, consumers, and financial institutions. The primary goal is to improve the overall Fintech ecosystem, fostering innovation and inclusion.
What Challenges Are They Currently Facing?
The fintech sector in Tanzania faces several challenges; including the absence of a comprehensive legal and policy framework, limited access to affordable talent and startup capital, and regulatory complexity, hindering the growth and contribution of fintech entities to economic development.
What Market System Changes Must Take Place To Resolve The Challenges?
The intended market outcomes of the Development of New Fintech Policy and Regulatory Framework initiative in Tanzania include the establishment of a vibrant and inclusive Fintech ecosystem, marked by increased entry and growth of Fintech entities, contributing to economic growth, job creation, and improved accessibility to financial services.
How Will FSDT Intervene?
FSDT will actively participate in collaborative efforts with regulatory bodies, fintech companies, and industry experts to advocate for and contribute to the development of a supportive policy and regulatory framework. This may involve facilitating dialogue, conducting research, and promoting best practices within the Fintech ecosystem.
What Are We Hoping To Achieve Through This Intervention?
We hope to catalyze a vibrant and inclusive fintech ecosystem in Tanzania, marked by increased entry and growth of fintech entities. This would contribute to economic growth, job creation, and enhanced financial services accessibility.
What Lasting Impact Do We Intend To Achieve?
The lasting impact sought through the initiative encompass the establishment of a sustainable and well-supported Fintech ecosystem in Tanzania, fostering continuous innovation, job creation, and significant contributions to economic development, ensuring enduring benefits for the Fintech sector and the broader economy.
INTERVENTION PERIOD
2022 - 2026
FUNDED BY
Review Of The Insurance Regulatory Framework
Whose Lives Are We Trying To Improve?
The primary beneficiaries of this initiative are individuals, farmers, and Micro, Small, and Medium Enterprises (MSMEs) in Tanzania, particularly those vulnerable to various risks such as weather-related events, accidents, sickness, and death. The initiative aims to empower these stakeholders by enhancing their access to inclusive insurance products.
What Challenges Are They Currently Facing?
The challenges include a notable decline in insurance uptake attributed to increased premium costs, removal of lowest premium rates, and low customer trust and awareness, coupled with regulatory gaps, particularly in the Micro-insurance Regulations of 2013, hindering widespread adoption among the low-income population.
What Market System Changes Must Take Place To Resolve The Challenges?
The desired market output involves creating a conducive environment for increased supply and uptake of insurance products, achieved through comprehensive regulatory reviews and diagnostic assessments to address challenges and enhance the accessibility and adoption of insurance among individuals, farmers, and Micro, Small, and Medium Enterprises in Tanzania.
How Will FSDT Intervene?
FSDT’s intervention approach involves active participation in the review process. FSDT will collaborate with regulatory bodies, insurance companies, industry experts, and other stakeholders. The intervention will include facilitating stakeholder dialogue, conducting in-depth research, and advocating for necessary amendments to the regulatory framework.
What Are We Hoping To Achieve Through This Intervention?
We hope to facilitate the creation of an enabling environment that encourages increased supply and uptake of insurance products. This involves addressing regulatory gaps, enhancing product offerings, and improving awareness. The ultimate goal is to motivate more individuals, farmers, and MSMEs to adopt insurance for effective risk mitigation.
What Lasting Impact Do We Intend To Achieve?
The lasting impact sought is the establishment of a robust and inclusive insurance market in Tanzania. This involves not only numerical growth in insurance adoption but also improved risk management among beneficiaries. The initiative aims to create a sustainable ecosystem that caters to the insurance needs of the low-income population, contributing to overall economic resilience and prosperity.
INTERVENTION PERIOD
2022 - 2026
FUNDED BY
Development Of Movable And Immovable Collateral Law And Regulatory Framework
Whose Lives Are We Trying To Improve?
The beneficiaries of this transformative initiative are widespread, encompassing both potential borrowers and lenders within Tanzania. Individuals, including consumers and businesses will benefit by gaining enhanced access to credit through the establishment of a comprehensive legal framework for transactions involving movable and immovable assets.
What Challenges Are They Currently Facing?
The current challenges are multifaceted, involving a scattered legal framework spread across various laws, inhibiting a unified and efficient system for transactions. Ineffective enforcement mechanisms impede the provision of credit, and the absence of a centralized database limits information accessibility for creditors using properties as collateral.
What Market System Changes Must Take Place To Resolve The Challenges?
The envisioned market system transformation through the development of a comprehensive legal framework for movable and immovable collateral in Tanzania involves addressing current challenges related to scattered legal provisions. The initiative strives to create a unified system, facilitating smoother transactions, providing effective enforcement mechanisms, and introducing a centralized collateral database. These changes are anticipated to not only streamline credit access but also install confidence in lenders, encouraging increased financial support to borrowers and contributing to overall economic growth and financial sector development.
How Will FSDT Intervene?
FSDT’s intervention will be strategic and collaborative, involving active participation in the development of the legal and regulatory framework. This includes facilitating dialogue among legal experts, government bodies, and industry stakeholders, conducting in-depth research, and advocating for the incorporation of best practices into the new framework.
What Are We Hoping To Achieve Through This Intervention?
We hope to catalyze a transformed financial landscape in Tanzania, where potential borrowers, ranging from consumers to businesses, can seamlessly access credit using legally accepted collateral. The initiative aims to foster an environment that not only streamlines transactions but also encourages lenders to make more funds available to creditors.
What Lasting Impact Do We Intend To Achieve?
The lasting impact envisioned is the establishment of an enduring and efficient system for transactions involving movable and immovable assets. This initiative is poised to install confidence in lenders, boost economic growth through increased access to credit, and leave a legacy of streamlined and reliable financial processes for the benefit of the Tanzanian economy.
INTERVENTION PERIOD
2022 - 2026
FUNDED BY
Review Of The Regulatory Framework For Credit Referencing Systems
Whose Lives Are We Trying To Improve?
This initiative aims to improve the lives of women, youth, and Micro, Small, and Medium Enterprises (MSMEs) in Tanzania. The goal is to empower them by enhancing their access to credit and financial servicesthrough an inclusive credit referencing system.
What Challenges Are They Currently Facing?
The credit referencing system faces challenges due to limited data sources, primarily relying on banks and excluding vital nonbank entities. This restrictiveness hampers comprehensive credit assessment, hindering inclusive access for groups like women, youth, and MSMEs in Tanzania. Regulatory enhancements are crucial for fostering a more equitable and accessible credit environment, aligning with broader financial inclusion goals.
What Market System Changes Must Take Place To Resolve The Challenges?
The intended market system changes involve modifying regulations to include non-bank data sources, fostering a holistic approach that considers data from Mobile Netwrok Operators (MNOs), utilities, and relevant entities, while also facilitating broader sharing of credit data through regulatory amendments for a more inclusive and comprehensive credit referencing system.
How Will FSDT Intervene?
FSDT’s intervention strategy involves active participation in the regulatory review process, collaborating with key stakeholders, including the Bank of Tanzania, credit reference bureaus, and industry experts. FSDT will facilitate stakeholder dialogues, conduct in-depth research, and advocate for regulatory changes that align with the goal of financial inclusion.
What Are We Hoping To Achieve Through This Intervention?
We hope to facilitate the establishment of a more inclusive and effective credit referencing system in Tanzania. By incorporating a wider range of data sources and allowing for comprehensive sharing of credit data, the initiative aims to significantly improve access to credit for a broader demographic, with a special emphasis on women, youth, and MSMEs.
What Lasting Impact Do We Intend To Achieve?
The lasting impact of this initiative goes beyond immediate improvements, aiming for a sustained transformation of the credit referencing landscape. This transformation is envisioned to foster enduring financial inclusion, providing continuous access to credit for individuals who were previously underserved. Ultimately, this contributes to economic growth, resilience, and empowerment among women, youth, and MSMEs.
INTERVENTION PERIOD
2022 - 2026
FUNDED BY
FSDT Annual Report 2022 – 2023
National Financial Inclusion Framework 2023 – 2028
FSDT Annual Report 2019 – 2020
Pesa kwa Wote – Focus Note
Unlocking Mechanisms for Greater Youth Financial Inclusion-Focus Note
Rural Youth Inclusive Finance Study
Bima Challenge Focus Note
Banking Best Survey-Saving More Safely & Longer
Digital Field Automation Case Study
Mfumo Jumuishi Case Study
FSDT Annual Report 2018-2019
Story of Digital Finance in Tanzania
to support financial service providers, policymakers, regulators, and other players in the financial sector in identification of market opportunities, development of appropriate financial solutions, and implementation of cost-effective delivery models, as well as appropriate regulatory frameworks.
