In April 2023, the African Economic Research Consortium (AERC) released Financial Technology in Tanzania: Assessment of Growth Drivers (“the Report” for short). The Report examines the fintech landscape in Tanzania and analyzes that most fintech innovations in the country are primarily focused on payment and lending, situating Tanzania in the second phase of fintech development. It believes that the country is currently expanding its offerings of loans to small and micro enterprises and merchant payments. Further research on Tanzania’s fintech development outlined in the Report highlights that the sector faces challenges regarding fintech awareness and capabilities, technological development levels, and regulation. However, these challenges simultaneously present growth opportunities for fintech in Tanzania. The Beijing Frontier Institute of Regulation and Supervision Technology (FIRST) provides excerpts from the main content of the Report for reference.

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