Bank of Tanzania is the winner of this year’s Nestor Espenilla Jr. Financial Inclusion Innovation Award! The award, made at the 2025 AFI Global Policy Forum, recognizes the Bank’s pioneering work to promote digital financial inclusion.

Bank of Tanzania has established a dedicated Financial Services Technologies and Innovations Division to promote the uptake of innovative and inclusive financial services. The Bank has also developed and operationalized a Fintech Regulatory Sandbox, and modernized the national payment ecosystem through the Tanzania Instant Payment System (TIPS) and the Tanzania National QR Code Standard (TANQR).

By end-2024, TIPS had processed over 450 million transactions, and by March 2025, TANQR had facilitated over 38 million merchant payments.

You can learn more in Building a digital future: Tanzania’s instant payment system journey, a guest article from Mutashobya Mushumbusi, Head of Retail Payments at Bank of Tanzania.