Tanzania has opened its government securities market to all foreign investors, marking a major shift in its investment policy as President Samia Suluhu Hassan's administration seeks to attract fresh capital and diversify government revenue.
The Bank of Tanzania said overseas investors can now purchase government-issued Treasury bills and bonds, removing restrictions that previously limited participation to residents of the East African Community (EAC), the Southern African Development Community (SADC), and members of the Tanzanian diaspora, according to a Reuters report.
In a statement, the central bank said the policy change is designed to deepen the country's domestic financial markets, broaden the investor base and position Tanzania as a more attractive destination for international investment.
The move comes as the government looks for new sources of funding following reductions in financial assistance from some international development partners. Expanding access to government debt is expected to increase capital inflows and strengthen the country's ability to finance public spending.
Foreign investors get wider access
