Tanzania: recent legislative changes in mining, banking and capital markets

The Parliament of Tanzania, through the Written Laws (Miscellaneous Amendments) (No. 3) Act of 2022 (the Amendment Act) [1] made amendments to six (6) laws, among them being: the Mining Act Cap 123 Revised Edition 2019 (the Mining Act), the Banking and Financial Institutions Act No. 5 of 2006 (the BFIA) and the Capital Markets and Securities Act (Cap 79 Revised Edition 2002) (the CMSA Act).

Other important changes to the banking sector have also been introduced by the Banking and Financial Institutions (Capital Adequacy) (Amendment) Regulations Government Notice No. 12 of 2023 (the Capital Adequacy Regulations of 2023) and the Banking and Financial Institutions (Licensing) (Amendment) Regulations Government Notice No. 13 of 2023 (the Licensing Regulations of 2023).

The Amendment Act, the Capital Adequacy Regulations of 2023 and the Licensing Regulations of 2023 have made numerous changes to the principal laws to cater for among others, compliance and the regulatory business environment in Tanzania.

In this month’s legal update, we highlight the changes made to the principal laws and consider how they will affect each law.

Read the full legal update

_{[1] The Amendment Act was published and came into force on 2 December 2022}