DAR ES SALAAM: Nearly half of Tanzania’s licensed banks have reached a key gender representation target in senior leadership and boardrooms, marking a shift in one of the country’s traditionally male-dominated sectors, the central bank said.
Deputy Governor of the Bank of Tanzania, Sauda Msemo, said 20 out of 42 banks had achieved at least one-third female representation in top decision-making roles as of Dec. 31, 2025. The benchmark aligns with a regulatory target set for August 2027.
Speaking at the Second Banks and Financial Institutions Leaders’ Forum in Dar es Salaam, Msemo said the industry’s response to recent reforms had been “strong,” with progress reflecting growing institutional commitment to gender inclusion.
The gains follow a 2024 directive by the central bank requiring lenders to integrate gender considerations into succession planning and to establish structured leadership pipelines for women. The move shifted gender diversity from a voluntary goal to a regulatory expectation.
Sector-wide data show women now hold 30.6% of board positions and 30.7% of senior management roles, indicating steady movement towards parity.
Regulatory changes have also influenced governance practices. According to the central bank, 32 banks have adopted policies supporting gender diversity, up from 20 previously, while 30 institutions have introduced competence frameworks that explicitly incorporate gender considerations.
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At the same time, lenders are adjusting their market strategies. Msemo said 26 banks — about 62% of the sector — now offer financial products tailored to women, signalling a broader push to align inclusion efforts with business growth.
The shift reflects wider national trends. Tanzania has narrowed the gender gap in financial inclusion from 10 percentage points in 2017 to 3 percentage points in 2023, while the proportion of women excluded from the financial system has declined to 19.4% from 30% over the same period.
Despite the progress, some institutions continue to lag behind. The central bank said these lenders have begun implementing corrective measures, including policy revisions and targeted leadership development programmes, to meet upcoming requirements.
Msemo said the central bank’s next phase will focus on scaling gender-responsive financial products, strengthening financial literacy and entrepreneurship initiatives, refining regulations to balance inclusion with financial stability, and expanding the use of gender-disaggregated data to guide policy decisions.
