The move will attract and boost cross-border investments needed to generate capital and build forward better the economy in Tanzania and the EAC region at large.
ARUSHA, Tanzania: The East African Business Council (EABC), the apex body of the private sector in the EAC region, congratulates H.E. Samia Suluhu Hassan, the President of the United Republic of Tanzania for allowing East Africans to invest in treasury bills and bonds security markets.
The EABC Chairman Mr. Nicholas Nesbitt [pictured] and the entire board members appreciates this bold and visionary move by Her Excellency and the Bank of Tanzania of issuing the new Foreign Exchange Regulations 2022 (8th June 2022) under the Foreign Exchange Act Cap 271, which will attract and boost cross-border investments needed to generate capital and build forward better the economy in Tanzania and the EAC region at large.
The Regulations permit residents of the East African Community (EAC) and Southern African Development Community (SADC), to invest in Treasury bills and bonds. The Regulations also permit a person residing in Tanzania to invest in the prescribed territory.
The EAC Monetary Union Protocol signed on 30th November 2013 provides for cooperation in monetary and fiscal matters to establish monetary stability and facilitate economic integration.
The East African Business Council is dedicated to partnering with the Government of the United Republic of Tanzania to promote the free movement of capital and payments, as prescribed in the EAC Common Market Protocol (2010).