The Finance Act, 2024 has amended the Bank of Tanzania Act to require all payments within Tanzania to be made using Tanzanian Shillings (TZS). This is one of the measures to address the shortage of foreign currencies in Tanzania. Effectively, it is illegal to transact in other currencies including USD and EURO.  Regulations will shortly … Continue reading All Payments within Tanzania to be made using Tanzanian Shillings (TZS)