Josephine Christopher is a senior business journalist for The Citizen and Mwananchi newspapers
Mwananchi Communications Limitted
Dar es Salaam. Tanzania’s banking sector is making significant strides toward regional financial integration, with local banks rapidly expanding their presence in the Southern African cross-border payment landscape, growing at a remarkable rate of 78 percent year-on-year.
According to new figures from the Bank of Tanzania’s (BoT) July 2025 Monetary Policy Report, six Tanzanian commercial banks processed Tanzanian shilling (TZS)- ZAR 189.91 million in cross-border payments via the Southern African Development Community Real-Time Gross Settlement (SADC-RTGS) platform by April 2025. This represents a substantial increase from TZS-ZAR 106.21 million in April 2024.
