Key points
- Tanzania has opened its Treasury bills and government bonds to all non-resident investors.
- The reform follows amendments to the Foreign Exchange Regulations, 2026.
- Previously, participation was largely limited to investors from the EAC, SADC and the Tanzanian diaspora.
- The move is expected to deepen Tanzania’s domestic capital market and attract more foreign investment.
Main story
The Bank of Tanzania has opened the country’s Treasury bills and government bonds to all non-resident investors, removing restrictions that previously limited participation largely to investors from the East African Community (EAC), the Southern African Development Community (SADC) and members of the Tanzanian diaspora.
The central bank announced the policy change in a public notice issued on Wednesday following amendments to the Foreign Exchange Regulations, 2026, which were gazetted on July 17.
Under the revised regulations, all non-resident investors are now eligible to invest in government securities issued by the Government of Tanzania through approved Central Depository Participants (CDPs), subject to applicable foreign exchange laws and operational requirements.
The Bank of Tanzania said the reform is aimed at deepening the country’s domestic financial markets and strengthening Tanzania’s attractiveness as an investment destination.
The central bank noted that broadening access would expand participation in the government securities market while supporting ongoing efforts to develop the country’s financial sector.
Foreign investors seeking to participate in the market will be required to invest through approved Central Depository Participants in accordance with the amended regulations and other applicable laws.
The Bank of Tanzania also directed interested investors to its website for the full Foreign Exchange (Amendment) Regulations, 2026, and advised market participants to contact approved depository participants or the central bank for further guidance.
The issues
Opening the government securities market to all foreign investors significantly expands Tanzania’s potential investor base. Increased foreign participation could improve liquidity in the domestic bond market, diversify government funding sources and strengthen investor confidence. The reform also aligns with broader efforts by African economies to deepen domestic capital markets and attract long-term foreign portfolio investment.
What’s being said
“The amendments, among other things, permit all non-resident investors to invest in Treasury bills and bonds issued by the Government of the United Republic of Tanzania.” – Bank of Tanzania:
“The reform is intended to deepen the country’s domestic financial markets and strengthen Tanzania’s position as an attractive investment destination.” – Bank of Tanzania:
What’s next
The Bank of Tanzania expects eligible foreign investors to begin accessing Treasury bills and government bonds through approved Central Depository Participants as the amended regulations take effect. Market participants will also receive further guidance on operational requirements where necessary.
Bottom line
By opening its government securities market to investors worldwide, Tanzania is seeking to attract more foreign capital, deepen its domestic capital market and strengthen long-term financing for economic development.
