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Tanzania: Capital account nears full liberalisation

Published on March 17, 2016

The Bank of Tanzania (BoT) has said that it is waiting for approval on opening up the country’s capital account fully.

In 2014, Tanzania allowed foreign investors to own up to 100 per cent stake in the local listed companies from 60 per cent capped earlier.

The amendment also allowed investors from East African Community (EAC) to buy up to 40 per cent of the government securities – Treasury bills and Treasury bonds – which the foreign investors cannot participate at all. However, the liberalisation of the capital account will end the limitations and allow free movement of capital inflow and outflow. SOURCE: The Citizen. Read more...