Africa-Press – Tanzania. THE Bank of Tanzania (BOT) and the National Board of Accountants and Auditors (NBAA) have signed a landmark Memorandum of Understanding (MoU) aimed at enhancing digital transformation, strengthening financial governance, and improving the credibility of accounting and audit practices across the country.
The agreement was signed in Dar es Salaam during the 25th Annual Conference for Accountants and Auditors, a high-level gathering that brought together more than 4,500 participants from the public and private sectors, including delegates from other African and international institutions.
BOT Governor Emmanuel Tutuba said the partnership marks a major step toward ensuring that all financial reporting and audit processes adopt digital systems that promote integrity, transparency, and accountability.
He noted that the Bank of Tanzania is committed to working closely with NBAA to ensure all financial information produced by accountants and auditors reflects the true position of institutions and supports the country’s long-term economic vision. He added that strengthening digital payment and reporting systems remains crucial as Tanzania pushes to maintain economic stability, enhance currency performance, and boost investor confidence.
NBAA Board Chairperson Prof. (CPA) Sylvia Temu said the MoU will significantly enhance the credibility of financial information submitted by registered auditors and accountants. She explained that once audit reports are submitted through NBAA’s digital platform, they will be accessible to stakeholders such as banks, tax authorities, and investors, increasing trust and reducing inconsistencies in financial reporting.
She added that the global accounting landscape is rapidly changing, with new standards focusing on sustainability reporting, data-driven decision making, and the integration of emerging technologies. Tanzania, she emphasized, must position its professionals to embrace these changes while maintaining the highest ethical standards.
A participant at the conference, ACPA Magdalena Osima, General Manager of Halisi Microfinance Limited, described the agreement as a timely intervention that will make financial data more accessible and useful for institutions. She said the shift toward digital systems will help organisations improve efficiency and strengthen decision-making across the financial sector.
The Annual NBAA Conference, held for over two decades, continues to serve as a platform for thought leadership on accounting reforms, sustainability standards, technological advancements, and the evolving demands of global financial governance.
This year’s focus underscores Tanzania’s ambition to build a resilient, transparent, and technologically empowered financial ecosystem as the country works toward its long-term development aspirations.
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