The Ministry of Finance is preparing for a results driven financial year ahead by enhancing the financial performance of government-owned companies, increasing the availability and accuracy of national data, and tightening regulation in the gambling sector.
The National Insurance Corporation (NIC) aims to increase its gross profit to 67.48 billion in 2025/26, an increased from 58.94 billion in 2024/25. To support this growth, NIC will review eight property and accident insurance products and three life insurance products. Minister for Finance, Dr. Mwigulu Nchemba, emphasized that these reforms will help the corporation remain competitive and enhance its contribution to national revenue.
The National Bureau of Statistics (NBS) will undertake a heavy research schedule, continuing the 2024 Labour Force Survey, finalizing the Household Budget and Follow-Up Surveys for 2024/25, and launching new surveys targeting the informal sector and agriculture. NBS will also complete the construction of new regional offices in Pemba, Lindi, and Simiyu. Dr. Nchemba stated that these efforts are crucial for evidence-based planning, ensuring that NBS data informs key economic and social decisions.
The Gaming Board of Tanzania (GBT) plans to issue 14,124 licenses, including 845 new licenses and 13,279 renewals. The board will conduct 12 risk-based inspections and launch four enforcement operations against illegal gaming activities, expecting to collect 29.89 billion in revenue. Public education campaigns on the dangers of gambling will continue. Dr. Nchemba highlighted the importance of strengthening regulatory oversight to protect players and ensure fair play.
The Tanzania Agricultural Development Bank (TADB) aims to generate 69.53 billion in revenue and increase its pre-tax profit to 30.65 billion, up from 24.68 billion last year. TADB plans to issue loans totaling 300 billion, compared to 286.38 billion, last year with total assets projected to grow to 1.13 trillion from 917.41 billion.
TIB Strategic Plan for the Upcoming Financial Year
TIB Development Bank seeks to disburse 20 billion in loans and increase its assets to 478 billion, up from 453 billion last year. Dr. Nchemba noted that these plans reflect the government’s commitment to enhancing institutional performance. As Tanzania enters the new financial year, the emphasis is clear: strong institutions, clear goals, and results that benefit citizens and the economy.
