Visit the Bank of Tanzania website at www.bot.go.tz and check their list of licensed financial institutions. All banks, microfinance institutions, and digital lenders must be registered with BOT to operate legally.

What happens if I borrow from an unlicensed lender?

Unlicensed lenders are not regulated by BOT, meaning you have no legal protection. They may charge excessive interest rates, use unethical collection practices, and access your personal data illegally. Always verify licensing before borrowing.

Are mobile money loan services like M-Pawa licensed?

Yes, mobile money services like M-Pawa (Vodacom), Tigo Pesa, and Airtel Money are licensed by Bank of Tanzania. The loan products offered through these platforms are regulated.

How many loan apps did BOT ban in Tanzania?

Bank of Tanzania has banned over 60 unlicensed digital lending apps operating in Tanzania. These apps were found to be operating without proper licensing and were engaging in predatory lending practices.

Verify with Bank of Tanzania

For the most up-to-date list of licensed institutions, visit the official Bank of Tanzania website.

Visit Bank of Tanzania