Arbitration Bill Tanzania 2020

The Tanzanian Parliament has passed a bill to enact the new Arbitration Act 2020 (Bill). It now awaits Presidential assent before being passed into law to replace the existing Arbitration Act 1931. The Bill provides for conduct relating to “domestic commercial arbitration”, “international, commercial arbitration” and enforcement of foreign arbitral awards and related matters. Key … Read more

Mortgage finance in Tanzania – new regulations

Further to the 8 February 2018 constraints for mortgage finance in Tanzania (as per Part IV Written Laws (Miscellaneous Amendments) Act 2018 – see our earlier post), supporting Regulations have been published with effect from 26 April 2019. In short: Detailed definitions of “undeveloped” and “underdeveloped” land. Details of the amount of development required over 5 … Read more

Mining – Local Content Regulations 2019

New Mining (Local Content) (Amendments) Regulations 2019 have made some changes to the Mining (Local Content) Regulations 2018, which include: Local shareholding requirement for indigenous Tanzanian companies reduced from 51% to 20%. Timeline extensions for review of local content plans by Mining Commission and Local Content Committee, starting at 60 days. Local shareholding requirement for … Read more

Microfinance Business service providers in Tanzania

Microfinance Act 2018 was enacted by National Assembly on 16 November 2018 (see VELMA Law earlier post) and now the Bank of Tanzania (BOT) has published a Notice to the public requiring all persons engaged in “microfinance business” to submit to BOT by Thursday 31 January 2019 the detailed corporate and financial background information listed in … Read more

Statistics information law in Tanzania

Statistics Act 2015 amended (as of September 2018), including as follows: A person shall not collect statistics through surveys or censuses, and shall not disseminate or otherwise communicate to the public any statistical information, except with approval of Statistician General. There is a penalty of TZS 10 million, or imprisonment of minimum 3 years, or both, … Read more