Tanzania Puts MSMEs at Centre of 2050 Development Plans

Tanzania and Zanzibar are putting micro, small and medium enterprises (MSMEs) at the centre of their development plans to 2050, with banks and other financial institutions expected to expand access to credit and other services for small businesses.

The issue took centre stage at the Tanzania Bankers Association (TBA) Research and Financial Inclusion Conference 2026, held on September 3 and 4 at Kwanza Resort Hotel in Kizimkazi, South Unguja, Zanzibar.

The conference brought together bankers, government officials, regulators, researchers, academics and development partners to discuss financing constraints facing MSMEs and the wider state of financial inclusion.

Zanzibar Deputy Minister for Finance and Planning, Hon. Dr. Hamad Omar Bakari, said economic growth depended not only on increased production and national output but also on the ability of the financial sector to extend the benefits of that growth to more people and businesses.

He said the Tanzania Development Vision 2050 and Zanzibar Development Vision 2050 both recognise MSMEs as central to economic development.

“The Tanzania Development Vision 2050 and the Zanzibar Development Vision 2050 place MSMEs at the heart of building an inclusive and prosperous nation with sustainable development,” Dr. Bakari said.

MSMEs account for activity across production, trade and employment, making access to affordable financial services a key concern for their growth.

The conference examined progress in expanding access to financial services but also pointed to gaps that continue to prevent individuals and businesses from making effective use of them.

For small businesses, access to suitable credit can determine whether an enterprise can invest, increase production, employ more workers or expand into new markets.

The 2026 conference ran under the theme,: Transforming MSME Financing for Sustainable Development: Policy Reforms, Innovation, and Opportunities.

Participants discussed mobile lending, SME credit performance, financial regulation and financing models for youth-led businesses.

They also examined digital lending and the role of partnerships between financial institutions, technology companies, government and other organisations supporting small businesses.

Research featured prominently in the discussions, with participants sharing findings on financial inclusion and MSME financing and considering how evidence can inform regulation and policy.

Mastercard supported the conference as the Main Sponsor.

Shehryar Ali, Mastercard's Country Manager for East Africa and Indian Ocean Islands, said the company would continue working with partners in Tanzania to expand digital payments and financial tools for small businesses.

“Mastercard is proud to collaborate with the Tanzania Bankers Association in advancing conversations that create meaningful opportunities for MSMEs,” Ali said.

He said Mastercard remained committed to expanding access to digital payments and solutions designed to help small businesses participate in the digital economy.

The discussions also covered the need to connect MSMEs with financial institutions, insurers, technology providers and other business-support services.

Such connections can help enterprises obtain financing, manage risks, adopt technology and expand their operations.

The TBA conference also gave researchers, regulators, bankers and other stakeholders a forum to exchange findings and discuss financing challenges affecting businesses across Tanzania.