What changed in July 2026?
Government Notice No. 206, published on 17 July 2026, replaced regulation 20 of the Foreign Exchange Regulations. The new text says that a non-resident may purchase, sell or transfer securities in Tanzania in accordance with the Regulations.
The Bank of Tanzania's public notice of 6 August 2026 makes the government-securities effect explicit: all non-resident investors may invest in Treasury bills and bonds issued by the Government of the United Republic of Tanzania through approved Central Depository Participants (CDPs), subject to the Regulations and other applicable laws and operational requirements.
Who was eligible before the amendment?
The Bank of Tanzania says participation in the government-securities market had been limited to residents of the East African Community (EAC), the Southern African Development Community (SADC) and the Tanzanian diaspora.
The amendment removes that regional eligibility limit for non-resident investors. It does not remove the normal identity, account, custody, funding, tax or compliance checks attached to a transaction.
Which securities are covered by the regulation?
The amended Regulations use a broad definition of securities. It includes corporate shares and debt instruments, government bonds and other government loan instruments, collective-investment interests, and specified derivatives and related instruments.
That legal definition should not be confused with immediate operational availability. The Bank of Tanzania's 6 August notice specifically confirms the route for government Treasury bills and bonds. A provider should confirm whether a particular listed share, bond, fund or other instrument is currently available to the non-resident investor through its systems.
How can a non-resident access Tanzanian government securities?
The Bank of Tanzania directs non-residents to participate through an approved Central Depository Participant. Before transferring money, the investor should verify:
- The intermediary's current approval or licence. Check the official CMSA register, DSE information and the CSDR participant directory.
- The account-opening requirements. Passport, address, tax, beneficial-owner and certified-document requirements can vary by investor and provider.
- The instrument and transaction route. Confirm the available Treasury-bill or bond tenor, auction or secondary-market process, minimum amount, custody arrangement and settlement timetable.
- The money path. Ask how Tanzanian shillings are funded, how income and proceeds are received, and which foreign-exchange documentation is required.
- The full cost and tax treatment. Obtain the provider's current schedule and appropriate professional advice for the investor's circumstances.
Legal eligibility is therefore not the same as an opened account, an accepted order or a settled security.
Does wider eligibility prove that foreign inflows or liquidity will rise?
No. The amendment broadens who may participate; it does not by itself measure demand, completed accounts, auction allocations, secondary-market turnover, borrowing costs or future capital flows.
Those outcomes need their own dated evidence. KCP will treat later participation or liquidity data as a separate observation, not as an automatic consequence of the rule change.
What should I read next?
- Read the official Foreign Exchange (Amendment) Regulations, 2026 — G.N. No. 206 and the Bank of Tanzania's 6 August public notice.
- Use How to buy shares on the DSE for the broker, order, contract-note and settlement path for listed equities.
- Open Government securities for the latest published auction evidence.
- Check the CMSA register of licensees and CSDR broker directory before approaching an intermediary.