The two-day conference brought together banking executives, government officials, regulators, researchers, academics, development partners and other stakeholders to examine the role of financial inclusion and access to finance in supporting MSMEs and broader economic development.
Financial-sector leaders, policymakers and researchers call for stronger financing, innovation and policy support for small businesses
KIZIMKAZI, ZANZIBAR — 28 September 2026 — Micro, Small and Medium Enterprises (MSMEs) are emerging as a central pillar of Tanzania and Zanzibar’s long-term development plans, with financial-sector stakeholders calling for stronger access to affordable finance and digital financial services to help businesses grow.
The message was a key takeaway from the Tanzania Bankers Association (TBA) Research and Financial Inclusion Conference 2026, held from September 3–4 at Kwanza Resort Hotel in Kizimkazi, South Unguja.
The two-day conference brought together banking executives, government officials, regulators, researchers, academics, development partners and other stakeholders to examine the role of financial inclusion and access to finance in supporting MSMEs and broader economic development.
Speaking at the conference, Hamad Omar Bakari, Deputy Minister for Finance and Planning in the Revolutionary Government of Zanzibar, said the financial sector has an important role in ensuring economic growth translates into wider opportunities for businesses and households.
He said the objectives of the Tanzania Development Vision 2050 and Zanzibar Development Vision 2050 require MSMEs to be placed at the centre of economic development because of their contribution to production, trade, employment and other economic activities.
“The Tanzania Development Vision 2050 and the Zanzibar Development Vision 2050 place MSMEs at the heart of building an inclusive and prosperous nation with sustainable development.”
Bakari said achieving those ambitions would require an enabling business environment that allows MSMEs to expand, create jobs and participate more fully in the formal economy.
Closing the financing gap
The conference also examined progress in expanding access to financial services while highlighting persistent gaps in the ability of individuals and businesses to access and effectively use those services.
For MSMEs, participants said appropriate and affordable financial products can support investment, strengthen business capacity, facilitate expansion and contribute to job creation.
The conference was held under the theme “Transforming MSME Financing for Sustainable Development: Policy Reforms, Innovation, and Opportunities.”
Discussions focused on research and emerging challenges around MSME financing, including mobile lending, SME credit performance, regulatory frameworks and financing mechanisms for youth-led enterprises.
Participants also explored ways to strengthen partnerships among financial institutions, government, technology providers and businesses to create ecosystems capable of supporting MSME growth.
Digital finance takes centre stage
The discussions highlighted the growing role of digital financial services in improving access to finance and enabling small businesses to participate in the formal and digital economy.
The conference emphasised the need to connect financial institutions with technology, innovation, insurance and business-support ecosystems to help MSMEs access capital, manage risks and adopt new technologies.
Mastercard, which supported the conference as the main sponsor, said partnerships across the financial ecosystem would be important in expanding opportunities for small businesses.
Shehryar Ali, Mastercard country manager for East Africa and Indian Ocean Islands, said the company was committed to working with partners in Tanzania to expand digital payments and solutions aimed at supporting small businesses.
“Mastercard is proud to collaborate with the Tanzania Bankers Association in advancing conversations that create meaningful opportunities for MSMEs.”
He said expanding access to digital payments and innovative financial solutions could help small businesses participate more effectively in the digital economy.
Research to inform policy
Beyond financing, the conference provided a platform for stakeholders to share research, experiences and recommendations on financial inclusion and the wider financial sector.
Participants stressed the importance of ensuring research and evidence inform policy and regulatory decisions, particularly as Tanzania works towards the long-term objectives outlined in its 2050 development vision.
The discussions also underscored the role of collaboration among government, regulators, financial institutions, researchers, development partners, technology companies and businesses in developing practical responses to MSME financing challenges.
For the Tanzania Bankers Association, the conference forms part of its broader effort to use research and sector dialogue to examine emerging issues, exchange knowledge and identify practical solutions that can strengthen the country’s financial sector and support sustainable economic development.
