The Bank of Tanzania (BoT), led by the Deputy Governor for Economic and Financial Policies, Dr. Yamungu Kayandabila, has held a meeting with various stakeholders to discuss the plan to establish a company for the provision and management of credit guarantees to be known as Tanzania Credit Guarantee PLC.

The meeting, held today, 12 March 2026, at the Bank of Tanzania offices in Dar es Salaam, brought together stakeholders from several institutions, including the Capital Markets and Securities Authority (CMSA), the Tanzania Insurance Regulatory Authority (TIRA), insurance companies, Collective Investment Schemes, pension funds, and the Tanzania Private Sector Foundation (TPSF).

The plan to establish the company aims to align with the scale and pace of implementation required to achieve the Tanzania Development Vision 2050, which seeks to strengthen the country’s economy and increase the contribution of the private sector to national development.

Furthermore, the establishment of the company will help separate the Bank of Tanzania’s regulatory role from the provision of credit guarantees, thereby eliminating potential conflicts of interest and improving operational efficiency. It will also encourage innovation and enhance the capacity of the institution to respond more quickly to market needs.

Currently, the Bank of Tanzania administers two credit guarantee schemes: the Export Credit Guarantee Scheme (ECGS) and the SME Credit Guarantee Scheme (SME-CGS).

The Government established these schemes to guarantee banks and financial institutions in order to enhance the provision of credit to borrowers with viable projects but insufficient collateral. The main objective is to create an enabling environment for the growth and development of productive investments, increase employment opportunities, boost foreign exchange earnings through exports, and contribute to the growth of the national economy.