BOT Wins Award for Innovation in Financial Inclusion Services.




Dar es Salaam, September 16, 2025


The Bank of Tanzania (BOT) has been awarded the prestigious Nestor Espenilla Jr. Financial Inclusion Innovation Award by the Alliance for Financial Inclusion (AFI), a global network with 84 member countries.


Speaking to journalists in Dar es Salaam, BOT’s Director of National Payment Systems, Lucy Shaidi, said the award recognizes outstanding efforts by AFI member countries in leveraging technology and strong leadership to enhance access to and usage of financial inclusion services.


“Tanzania has been a member of AFI through the Bank of Tanzania since 2011. The award was received by Deputy Governor for Financial Stability and Sector Supervision, Sauda Msemo, on behalf of BOT Governor Emmanuel Tutuba, during the AFI Global Policy Forum held in Swakopmund, Namibia, in early September 2025,” said Shaidi.


She highlighted that BOT’s achievements stem from the implementation of the Tanzania Instant Payment System (TIPS), which has reduced costs for citizens conducting digital transactions, and the introduction of the TANQR payment code (QR Code), which allows businesses to seamlessly accept payments from both banks and mobile money operators.


Moreover, BOT’s innovations have gained international recognition through various publications, while the bank has also shared expertise with neighboring countries including Kenya, Lesotho, Rwanda, and Uganda.


In the 2024/25 financial year, digital transactions processed through TIPS reached 560 million, valued at TZS 41 trillion, while transactions via QR Codes and Lipa Namba reached 60 million, valued at TZS 4 trillion.


Additional innovations introduced by BOT include the Fintech Regulatory Sandbox Regulations, 2024, which provides a safe space for innovators to test their solutions, and the SEMA na BoT system, designed to receive and address public complaints on financial services.


Shaidi emphasized that these milestones reflect the strong leadership of Governor Emmanuel Tutuba, who has prioritized the adoption of technology to reduce costs, increase efficiency, and expand financial inclusion—ultimately empowering more Tanzanians to participate in national economic development and improve their livelihoods.


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