Zanzibar, United Republic of Tanzania, August 18, 2025- From August 11 to 19, 2025, the APRM conducted a technical support mission to the United Republic of Tanzania, to assess the state of engagement between the government of Tanzania and International Credit Rating Agencies (ICRAs). The mission team drew expertise from the United Nations Economic Commission of Africa (UNECA), the Ministry of Finance of Zambia and the APRM Continental Secretariat which was led by Dr. McBride Nkhalamba, Acting Director of Governance and Specialized Reporting.
The mission first paid a courtesy call on the Deputy Permanent Secretary of the Ministry of Foreign Affairs, Ambassador Said Shaib Mussa, who warmly welcomed the team to Tanzania. In his statement, he highlighted the number of countries -32- whose maturities were ascribed junk status by ICRAs. Ambassador Mussa affirmed that African solutions should be provided to African problems, encouraged the mission to focus on capacity-building and commended the APRM for its flagship initiative to set up the African Credit Rating Agency (AfCRA).
The mission also paid a courtesy call on Mrs. Sauda Kassim Msemo, Deputy Governor for Financial Stability and Deepening, who welcomed the mission to the Bank of Tanzania. She indicated that Tanzania has recorded robust economic growth, managed inflation and recently seen an appreciation of its currency -the Tanzanian shilling. In addition, she also applauded the APRM’s efforts to establish AfCRA.
The APRM delegation engaged in extensive discussions with the International Monetary Fund (IMF) Resident Representative in Tanzania, as well as officials at key agencies such as the Capital Market and Securities Authority, the National Bureau of Statistics and the Tanzania Chamber of Commerce, in Dar es Salaam and Dodoma on the mainland, as well as the Zanzibar Investment Promotion Centre on the island of Zanzibar.
All stakeholders demonstrated a strong readiness to engage with ICRAs and expressed their gratitude to the mission for including Tanzania in the list of countries selected for the provision of direct technical support.
Following Ghana, Kenya and Zambia, Tanzania was the fourth country to have been given support in the area of credit ratings. Based on its 2017 mandate granted by the African Union (AU) Assembly of Heads of State and Government, the Mechanism is helping strengthen the continent’s position vis à vis ICRAs and raising awareness of its financial realities.
For media inquiries or further information, please contact: APRM Continental Secretariat at info@aprm-au.org.
@APRMorg – X
