Guidance Note on Change of Ownership, Lease of Licence and Closure of Business by Licensed Microfinance Service Providers (2025)

Ref. No. FD.56/377/01/2652 10th January 2025 To: All Tier 2 Microfinance Service Providers RE: PUBLICATION OF GUIDANCE NOTE ON CHANGE OF OWNERSHIP, LEASE OF LICENCE AND CLOSURE OF BUSINESS BY LICENCED MICROFINANCE SERVICE PROVIDERS, 2025 Reference is made to the captioned subject.
2. Pursuant to the provisions of Section 12(3) of the Microfinance Act, 2018, the Bank
of Tanzania has issued the Guidance Note on change of ownership, lease of licence and closure of business by licenced Microfinance Service Providers, 2025.
3. The Guidance Note shall apply to all Tier 2 Microfinance Service Providers operating
in Mainland Tanzania. The effective date of the Guidance Note shall be 10 January 2025;
4. All Microfinance Service Providers who have closed business operations whether
temporally or permanently without notifying the Bank are given a moratorium period of 30 days from the date of issuance of the Guidance Note to notify the Bank and submit all necessary documents as prescribed under Section 3.0 of the Guidance Note;
5. A Microfinance Service Provider who intends to close business shall comply with the
Guidance Note by notifying and submitting to the Bank all information prescribed under sections 3.0, 3.1 and 3.2 of the Guidance note;
6. A Microfinance Service Provider who intends to change its ownership shall seek and
obtain prior approval from the Bank of Tanzania and submit all necessary documents as prescribed under section 4.0 of the Guidance note; and
7. Kindly note that the Guidance Note has been published on the website of the Bank
and can be accessed at: https://www.bot.go.tz.
8. Kindly be guided accordingly.
Emmanuel M. Tutuba
GOVERNOR
16 Jakaya Kikwete Road, P. O. Box 2303, 40184 Dodoma – Tanzania, Email: governoroffice@bot.go.tz, info@bot.go.tz Website: www.bot.go.tz, Telephone: +255 22 223 2541 Direct line: +255 22 223 2501 In reply please quote:
THE UNITED REPUBLIC OF TANZANIA
BANK OF TANZANIA

Copy: Executive Secretary,
Tanzania Microfinance Associations (TAMFI), 54A Uporoto Street, P. O. Box 950, DAR ES SALAAM. “ General Secretary, Tanzania Microfinance Union (TAMIU), P. O. Box 2547, MOROGORO. 2

16 Jakaya Kikwete Road, P. O. Box 2303, 40184 Dodoma – Tanzania, Email: governoroffice@bot.go.tz, info@bot.go.tz Website: www.bot.go.tz, Telephone: +255 22 223 2541 Direct line: +255 22 223 2501