Mortgage finance in Tanzania – new regulations 2019

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:

  1. Detailed definitions of “undeveloped” and “underdeveloped” land.
  2. Details of the amount of development required over 5 years for agricultural / pastoral / mixed use land.
  3. Details of Borrower Declaration and supporting documentation required to be given to Lands Commissioner
  4. Details of subsequent development reporting requirements.

Breach of this is a breach of the Right of Occupancy.

Please contact us if you have any comments or questions.