The Ministry of Finance is a government ministry of Tanzania. The Ministry of Finance in Tanzania plays a pivotal role in the economic governance of the United Republic of Tanzania. Established to manage the comprehensive financial affairs of the government, the ministry is tasked with overseeing revenue generation, expenditure, and financing, all of which are crucial elements in sustaining the country’s economic and social development.” The primary mission of the Ministry of Finance is to provide strategic financial guidance to the government, ensuring that fiscal policies align with broader economic and social objectives. Its responsibilities encompass a wide range of financial matters, including:

Budget Preparation: One of the key functions of the ministry is the preparation of the Central Government budget. This involves meticulous planning and allocation of resources to various sectors in line with the government’s priorities and development goals.

Tax Policy and Legislation: The ministry is instrumental in the development of tax policies and legislation. This includes formulating strategies to enhance revenue collection, promote fiscal responsibility, and create a conducive environment for economic growth.

Government Borrowings: Managing government borrowings on financial markets is another critical duty. The ministry is responsible for making informed decisions regarding borrowing to meet the financial needs of the government while ensuring prudent fiscal management.

Expenditure Allocation: Determining the allocation of expenditures to different government institutions is a key aspect of the ministry’s role. This involves balancing the needs of various sectors to optimize resource utilization and promote equitable development.

Grants to Local Governments: The ministry oversees the transfer of central grants to local governments, playing a vital role in decentralized governance and supporting local development initiatives.

Regulatory Policy for the Financial Sector: Collaborating with the Bank of Tanzania, the ministry is involved in developing regulatory policies for the country’s financial sector. This includes creating a regulatory framework that ensures stability, transparency, and efficiency within the financial system.

International Representation: The ministry represents Tanzania within international financial institutions, fostering collaboration and engagement with the global economic community. This involves participating in discussions, negotiations, and agreements that have implications for Tanzania’s economic well-being.”

The ministry is located in Dodoma and is headed by Minister Hon. Dr Mwigulu Lameck Nchemba and Deputy Minister Hon. Hamad Hassan Chande.

Vision

Stable macro-economy and effective public finance management for human development.

Mission

Promoting inclusive sustainable economic growth, through prudent economic policies and plans for human development.

Core values

The Ministry is committed to provide quality services to all its stakeholders in due course of fulfilling its mandate, pursue vision and accomplish mission under the guidance of the following core values:

• Integrity and Confidentiality: We shall uphold the highest standards of ethics while exercising required level of confidentiality
• Innovativeness: We shall be open-minded and creative in implementing our duties.
• Professionalism: We shall apply the required skills, knowledge and competence in exercising our duties.
• Transparency and Accountability: We shall be responsive in provision of services in an open and fair manner to all.
• Customer focused: We shall strive to provide quality services to meet customers’ expectations.