Tanzania has achieved a major milestone in restoring global confidence in its financial system after being officially removed from the Financial Action Task Force (FATF) grey list.
The announcement came on Sunday via the Ministry of Finance, following the FATF general meeting in Strasbourg, France, held from 10 to 13 June 2025.
FATF Acknowledges Major Reform Milestone
FATF President Elisa de Anda Madrazo confirmed Tanzania’s removal, citing the country’s “substantial progress” in addressing the strategic deficiencies that had prompted its grey-listing in October 2022. The FATF, a global watchdog for anti-money laundering (AML) and counter-terrorist financing (CFT), places countries on the grey list when they exhibit weaknesses in combating financial crimes and require increased monitoring.
Since its inclusion, Tanzania has implemented a series of reforms in line with FATF recommendations. These include strengthening financial intelligence systems, increasing transparency around beneficial ownership, and bolstering regulatory enforcement. Authorities also enacted key legal amendments and improved coordination across institutions responsible for AML/CFT measures.
Strategic Reforms Strengthen Financial Oversight
The reforms have not only enhanced Tanzania’s compliance with international standards but have also improved the country’s attractiveness to investors and development partners. “We’ve rebuilt confidence in our financial sector through strategic reforms,” the Ministry stated, calling the FATF’s decision a validation of Tanzania’s commitment to financial integrity.
Tanzania’s removal from the list is expected to unlock greater access to global capital, reduce transaction costs, and solidify the country’s image as a credible economic player in East Africa.
Source: Further Africa
