In our previous brief on the subject, we discussed the rationale for the BoT’s takeover of banksand financial institutions. We highlighted that the primary objective of supervision and regulation of financial institutions is, as provided by Section 5 of the Banking and Financial Institution Act, to “maintain the stability, safety and soundness of the financial […]

Each year, Tanzanian citizens eagerly wait to listen to and read the General Audit Report by the Controller and Auditor General (“the CAG”) for the preceding financial year. Recently, the CAG submitted his Audited Reports for the year 2021/22. The Report has caused an outcry from the public, pointing to mismanagement of public funds, among […]

The Bank of Tanzania (BoT) placed Yetu Microfinance Bank Plc (Yetu bank) into statutory administration on December 12, 2022, in accordance with Section 56(1)(g)(iii) of the Banking and Financial Institutions Act of 2006. As a result, the BoT suspended Yetu’s normal business operations for 90 days, until March 12, 2023. However, on March 13, 2023, […]

The Parliament of Tanzania, through the Written Laws (Miscellaneous Amendments) (No. 3), Act No 5 of 2021 (published on 11th October 2021) amended several Acts of parliament, some of which have some implication on corporate arrangements. In this brief, we highlight those changes. Business Names (Registration) Act A: National ID necessary for registration Registration of […]

A recent Haven of Peace Academy graduate, Riya Lalji is concentrating in mathematics, psychology, literature, and language. She recently passed her A level. Before beginning her LLB and BBA programs in Canada, Riya has one more year of high school to complete. Riya wants to practice environmental and corporate law. Apart from studies, Riya is […]

Priscilla Sanga has recently graduated from International Baccalaureate (IB) program at American International School of Johannesburg in South Africa majoring in Economics, Mathematics, Global Politics, English and French. Priscilla is expecting to pursue a double degree program, BA in Political Science and LLB, at Wilfrid Laurier University in Canada and Sussex University in the United […]

Hillary Kweka is currently interning at AfriCorp Attorneys. Hillary has a keen interest and aspires to specialize in Investment, Securities, Corporate, Arbitration, Compliance and regulatory areas of law practice. He is a recent Law Graduate from the University of Dar es Salaam, and he looks forward to enrolling on Postgraduate law studies at the Law […]

Ms Francisca is a recent graduate of St. Augustine University of Tanzania, currently interning at AfriCorp Attorneys. She is a dedicated and self-driven legal trainee who assists partners and associates in conducting legal research and drafting legal opinions for the clients as she develops legal insights in her areas of practice. Ms Francisca is best […]

A Non-Governmental Organization, as defined under the Non-Governmental Organization Act No. 24 of 2002 as amended by the Written Laws (Miscellaneous Amendment) Act No. 3 of 2019, is a voluntary grouping of individuals or organizations which is non-partisan or non-profit sharing, established and operating for the benefit or welfare of the community or public. It […]