Joseph Isangura
After nearly two years of intense reforms and global scrutiny, Tanzania has officially been removed from the Financial Action Task Force (FATF) grey list—a category for countries under increased monitoring due to weaknesses in their systems to combat money laundering, terrorism financing, and the spread of weapons of mass destruction.
The announcement was made in Strasbourg, France, at the conclusion of the FATF’s latest plenary session, where the organization’s president, Elisa de Anda Madrazo, confirmed that Tanzania had fully addressed all the concerns raised when it was added to the list back in 2022.
“Tanzania has completed its action plan and strengthened its frameworks for financial integrity. It no longer requires enhanced monitoring,” said Madrazo during a press briefing.
The road to delisting wasn’t easy. When FATF flagged Tanzania in 2022, the country was found to have major gaps in identifying and prosecuting financial crimes, regulating non-financial entities, and sharing financial intelligence both locally and internationally.
Since then, Tanzania has implemented sweeping reforms. The delegation that represented the country in Strasbourg was led by Sauda Msemo, Deputy Governor of the Bank of Tanzania, and Majaba Magana, Commissioner of the Financial Intelligence Unit (FIU).
Msemo emphasized that Tanzania’s commitment to global financial security remains firm. “We are not celebrating an end—we’re marking a beginning. Our systems must now work even harder to detect and stop illicit financial flows,” she told delegates.
In Dodoma, Finance Minister Dr. Mwigulu Nchemba applauded the news and gave credit to both the national task force and development partners who provided technical assistance. He also acknowledged the leadership of President Samia Suluhu Hassan, calling her “a visionary who placed transparency and accountability at the heart of national policy.”
“Our removal from the grey list is not luck—it is leadership,” Nchemba said. “President Samia has consistently pushed for reforms that protect our economy from criminal networks.”
Also Read; Netanyahu Appeals To Iranians Amid Rising Conflict
Being placed on the FATF grey list often triggers increased scrutiny from global banks and investors, resulting in higher transaction costs and reduced foreign direct investment. Removal from the list boosts Tanzania’s reputation in the international financial community, offering smoother trade relations and attracting more credible investors.
According to the World Bank, countries that remain on the grey list for long often face economic slowdowns due to hesitance from financial institutions. Tanzania’s exit sends a powerful message: the country is serious about protecting its financial ecosystem and playing by international rules.
Tanzania now joins countries like Croatia and Mali, which have also recently graduated from FATF’s watch list. The decision has been hailed by regional economic groups like the East African Community (EAC), which sees the development as a win for financial integration and cross-border cooperation.
“We will not rest on our laurels,” said Commissioner Magana. “We’ll continue to improve and work closely with other nations and agencies to maintain the trust we’ve earned.”
The FATF’s decision is a milestone, but it’s also a reminder that the fight against financial crimes is ongoing. Experts say Tanzania must now focus on digital transaction tracking, beneficial ownership registries, and training law enforcement to keep up with sophisticated financial criminals.
Still, for many Tanzanians, this is a proud moment. It’s a sign that reforms work, that leadership matters, and that global respect is earned—step by step, rule by rule.
“We are no longer in the grey,” said Minister Nchemba. “We are in the clear—and we intend to stay there.”
