DSE, Fintech Society of Tanzania partner to boost investment
THE Dar es Salaam Stock Exchange (DSE) has signed a Memorundum of Understanding (MoU) with the Fintech Society of Tanzania aimed at improving the investment landscape in the country to attract more investors.
Speaking at the signing ceremony held yesterday, the DSE Chief Executive Officer Mr Peter Nalitolela said that the partnership will facilitate access to capital to support and implement financial technologies across the country.
“This partnership will focus on several areas, including the overall development of financial technology.”
The main goal is to attract more investors to the country and enhance their participation in capital and securities markets,” said Mr Nalitolela.
The country’s fintech landscape is experiencing significant growth and transformation, driven by supportive regulatory frameworks, active startup participation and increasing investment in digital financial services.
Last year, the Bank of Tanzania (BoT) introduced the Fintech regulatory sandbox which allows fintech startups to test innovative financial products in a controlled environment, reducing regulatory burdens and fostering innovation.
Startups can pilot their solutions with real customers under BoT supervision, ensuring compliance and consumer protection.
Mr Nalitolela said that financial technology, centred around using tools such as mobile phones to simplify financial services like payments and investments, has continued to grow rapidly in Tanzania.
He added that the partnership will include capacity building programmes which will help expand the reach of the stock market to more people across the country.
On his part, the Fintech Society of Tanzania’s Executive Director Dr Dennis Mwighusa said that one of the key priorities under the partnership will be identifying existing gaps in the financial technology sector and conducting research to bridge the gaps.
“As a link between the fintech community and regulatory bodies, this partnership will make it easier to present the various challenges faced by the fintech sector and work towards practical solutions,” said Dr Mwighusa.
