The Vice President of the United Republic of Tanzania, H.E. Dr. Philip Isdor Mpango, has officially launched the Integrated Core Banking System (iCBS) of the Bank of Tanzania (BoT), commending the significant contribution of local experts in designing and operating the system.

Speaking at the ceremony held in Dar es Salaam, Dr. Mpango stated that the development of the system using local human resources is not only a technological achievement but also evidence of the country’s attained digital independence, in contrast to the past era when there was heavy reliance on foreign service providers.

“By creating this system, we have demonstrated that we can be self-reliant. Moreover, we have strengthened our ability to control our financial data and systems, which is extremely important in this era of rampant cybercrime, global political challenges, and intense economic competition,” said Dr. Mpango.

He emphasized that the Government will continue to provide full support and strengthen an enabling environment for financial institutions to carry out their legal mandates.

In addition, he called on all institutions responsible for overseeing payment systems—particularly the Bank of Tanzania, TCRA, and e-GA—to ensure robust management and protection of these systems against cybercrime threats. He stressed the importance of promoting the use of digital systems in conducting transactions to reduce reliance on cash.

Earlier, the Governor of the Bank of Tanzania, Mr. Emmanuel Tutuba, noted that Tanzania has become the first country in Africa whose central bank has developed an integrated banking system using its own local experts and domestic funds, without any financial or technical assistance from abroad.

“This is a historic milestone, as such core banking systems are usually developed by major global ICT companies, yet the Bank of Tanzania has successfully achieved this,” he said.

The creation of the iCBS marks the beginning of a new era in the Bank of Tanzania’s operations, bringing significant operational efficiency and strengthening the capacity to manage financial activities with professionalism and modern technology.