Josephine Christopher is a senior business journalist for The Citizen and Mwananchi newspapers
Mwananchi Communications Limitted
Dar es Salaam. Tanzania’s banking sector is enjoying record profits and strong balance sheets, but economists and private sector leaders are warning that excessive concentration in two institutions could undermine competition, stifle innovation and increase systemic risks.
According to Ernest & Young’s (EY) Tanzania Banking Sub-Sector report for 2024, the country hosts 81 institutions supervised by the Bank of Tanzania (BoT), including 44 banking and 37 non-banking institutions.
