Keypoints:
- FATF confirms Tanzania’s exit from increased monitoring
- Move follows major reforms to financial crime framework
- Finance Minister vows continued oversight
TANZANIA has officially been removed from the Financial Action Task Force (FATF) grey list, a significant milestone in its efforts to strengthen financial oversight and fight money laundering and terrorist financing. The Ministry of Finance confirmed the decision in a statement issued on Sunday.
FATF President Elisa de Anda Madrazo announced the removal following the organisation’s general meeting in Strasbourg, France, held from June 10 to 13, 2025.
Tanzania had been placed under increased monitoring in October 2022 due to strategic weaknesses in its regulatory framework for combating financial crimes. Since then, the government has undertaken a series of reforms aimed at aligning with global standards.
Finance Minister welcomes decision
Reacting to the announcement, Finance Minister Mwigulu Nchemba said Tanzania remains committed to preserving the integrity of its financial systems.
‘Tanzania will sustain the progress achieved and continue working with both domestic and international stakeholders to combat money laundering, terrorism financing, and the financing of weapons of mass destruction,’ Nchemba stated.
He added that ensuring financial transparency and system integrity is vital for sustainable development and investor confidence.
Boost for economy and reputation
Removal from the grey list is expected to enhance Tanzania’s standing in global financial markets. Countries on the FATF grey list often face greater scrutiny from international financial institutions, resulting in reduced investment and increased transaction costs.
The government implemented broad legal and institutional reforms to meet FATF standards. These included improvements in financial sector supervision, risk-based oversight, law enforcement coordination, and information-sharing mechanisms.
Analysts say the decision is likely to stimulate foreign investment and reinforce Tanzania’s credentials as a trustworthy financial hub in East Africa.
Continued vigilance ahead
Despite the delisting, Nchemba emphasised that Tanzania will continue to monitor and strengthen its financial systems. The Ministry of Finance acknowledged the efforts of national regulators and international partners in reaching this milestone.
The move places Tanzania among a growing list of African nations that have successfully improved compliance with FATF recommendations, marking a positive step toward broader financial inclusion and global cooperation.
