Ministry of Finance of Tanzania

The Ministry of Finance Tanzania is responsible for the management of the overall financial affairs and budgeting policies of the government of the United Republic of Tanzania. The Finance Ministry of Tanzania is headed by the Finance Minister.
The principal objective of the Ministry of Finance Tanzania is the achievement and sustainability of high economic growth and stability in Tanzania. At present, the Finance Minister of Tanzania is Z. Meghji, who is a member of the parliament. For running the Finance Ministry, he also gets the support of two deputy ministers.

At present, the principal focus of the Ministry of Finance of Tanzania is on poverty reduction. The government of Tanzania plans to carry it out with the help the Poverty Reduction Strategy (PRS) and the National Development Vision 2025.

The Finance Ministry of Tanzania also supervises the funding procedures of the United Republic of Tanzania Government.

The principal functions of the Finance Ministry of the Tanzanian Government include the following:
Collection of revenue and management of expenditure
Collection and management of external resources
Management of public investments and government property
Formulation of monetary and fiscal strategies and policies

The Tanzanian Finance Ministry renders a wide range of advisory services to the Government of Tanzania for supporting its social and economic goals on the broader perspective.

The departments under the Ministry of Finance of Tanzania are the following:

The Accountant General’s Department
Computer Services Department
Administration and Personnel Department
External Finance Department
Policy Analysis Department
Government Budget Department
Treasury Registrar’s Department
Stock Verification Department
Tax Revenue Appeals Board
Public Procurement Department
Tax Revenue Appeals Tribunal
Public Procurement Appeals Authority
Information and Communication Unit
Finance and Accounts Unit
Legal Service Unit
Internal Audit Unit
Following are the subsidiary institutions of the Ministry of Finance of Tanzania:

Regulatory Bodies

  • Bank of Tanzania (BOT)
  • Public Procurement Regulatory Authority (PPRA)
  • Insurance Supervisory Department (ISD)
  • National Board of Accountants and Auditors (NBAA)
  • Tanzania Gaming Board
  • Capital Markets and Securities Authority (CMSA)

Banking Institutions

  • National Microfinance Bank (NMB)
  • Tanzania Postal Bank (TPB)
  • National Bank of Commerce (NBC)
  • Tanzania Investment Bank (TIB)

Insurance

  • Insurance Deposit Fund
  • National Insurance Corporation (NIC)

Pension Funds

  • Parastatal Pension Fund (PPF)
  • Government Employees’ Provident Fund (GEPF)
  • Public Service Pension Fund (PSPF)

Executive Agencies

  • Millennium Challenge Cooperation
  • Tanzania Revenue Authority (TRA)
Training Institutions

  • Institute of Finance Management (IFM)
  • Tanzania Institute of Accountancy
  • Institute of Accountancy Arusha (IAA)

Liquidation/Collection Firms

  • Loan and Advances Realization Trust (LART)
  • Consolidated Holdings (T) Ltd.
  • Loan and Advances Realization Trust (LART) Tribunal

Appeals Bodies

  • Tanzania Revenue Appeals Tribunal (TRAT)
  • Tanzania Revenue Appeals Board (TRAB)

Others

  • National Bureau de Change (NBDC)
  • Tanzania Development Finance Company (TDFL)
  • Pride Tanzania
  • Joint Finance Commission (JFC)
  • National Audit Office (NAO)
  • Unit Trust of Tanzania (UTT)

Contact Details:

Permanent Secretary
Ministry of Finance
P.O. Box 9111
Dar Es Salaam
Tanzania

Tel: +25522 2111174-6
Tel: +25522 2110326

 

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Last Updated on : 1st August 2013

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