Forex trading in Tanzania operates under the Foreign Exchange Regulations 2022, which are administered by the Bank of Tanzania under the Foreign Exchange Act. Any person whether resident or non-resident may within Tanzania hold any amount of foreign currency, sell to or purchase foreign currency from banks and financial institutions, and open and maintain foreign currency accounts (1). However, residents other than banks or financial institutions shall not open or maintain accounts outside Tanzania except for settlement of securities in prescribed territories or unless expressly permitted by the Governor.
The Bank of Tanzania issued new Foreign Exchange Bureau de Change Regulations in October 2023, introducing three classes of licenses for foreign exchange operations. Foreign-owned class A Bureaux de Change are required to maintain minimum capital of one billion Tanzanian Shillings approximately four hundred thousand US dollars, while locally owned class A operations require five hundred million Tanzanian Shillings (2). Class B Bureau de Change are limited to local shareholding with minimum capital of two hundred million Tanzanian Shillings, and class C operations can be established in three-star hotels without minimum capital requirements.
"Foreign-owned class A Bureaux de Change are required to have a minimum capital of TZS1-billion approximately four hundred thousand US dollars, while locally owned class A Bureaux de Change are required to have a minimum capital of TZS500-million approximately two hundred thousand US dollars."
For travel purposes, persons may purchase foreign exchange up to an equivalent of ten thousand United States dollars upon submission of supporting residency and valid travel documents. All foreign exchange transactions must be conducted through banks, financial institutions, or licensed bureaux de change, and every bank must submit periodic reports of all foreign exchange transactions to the Bank of Tanzania (1). Persons may carry out trading of foreign currency outside the interbank foreign exchange market only as prescribed by the Bank of Tanzania.
Source:
https://www.bot.go.tz/Publications/Acts,%20Regulations,%20Circulars,%20Guidelines/Regulations/en/2022051910514495.pdf
https://investmentpolicy.unctad.org/investment-policy-monitor/measures/4443/united-republic-of-tanzania-issues-new-regulations-on-foreign-exchange-offices
Last updated: 15-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
