Dar es Salaam. Tanzanians in the diaspora investing in the stock market will soon be able to participate in tribunal proceedings without physically attending courtrooms, thanks to a new visual hearing system being rolled out by the Capital Markets Tribunal (CMT).
The digital platform, which is 90 percent complete and expected to be fully operational by December, will enable investors abroad to attend hearings remotely. The system is designed to cut travel costs and delays while keeping investors fully engaged in dispute resolution processes from anywhere in the world.
CMT Registrar Martin Kolikoli, told reporters during the Tribunal’s second anniversary yesterday that the initiative marks a milestone in modernising Tanzania’s judicial process for capital market-related issues. He said it would ultimately boost investor confidence and appetite in the stock market.
“The visual hearing system will enable access to justice regardless of location, which is especially beneficial for diaspora investors who previously faced challenges attending hearings physically,” he said.
The platform, being developed by local ICT professionals under the supervision of the e-Government Agency (eGA), is designed to simplify case management, improve communication and increase efficiency within the capital markets judicial framework. Once integrated with the High Court system, it will support real-time virtual hearings and allow more streamlined case handling.
Mr Kolikoli also highlighted progress since the CMT was established two years ago, pointing to successes, challenges and future plans. He said the Tribunal had strengthened the investment climate by providing a dedicated mechanism for resolving disputes in the capital markets.
So far, the Tribunal has resolved several key cases and has partnered with regional counterparts in Kenya and Zambia to enhance its operational capacity through knowledge sharing and joint initiatives.
The launch of the visual hearing system is part of a wider government effort to harness digital tools to improve public service delivery.
“For the CMT, it represents a shift towards a more inclusive and investor-friendly judicial environment, where technology helps break down barriers to justice,” Mr Kolikoli added.
Since its establishment, the Tribunal has handled numerous cases and conducted educational seminars reaching more than 850 stakeholders. It has also raised awareness among over 500,000 individuals through social media campaigns.
With preparations for the system’s rollout in progress, the CMT is confident the platform will contribute significantly to building a more robust and accessible legal framework for all stakeholders in Tanzania’s capital markets ecosystem.
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