Global FinTech Guide
Country Name
United Rep of Tanzania
Asset and portfolio management
FinTechs belonging to this category offer asset and portfolio management services via an internet platform or software programs and usually manage and dispose of the assets of their customers long or short term according to their specifications without actually holding the property or the possession of those assets. FinTechs, which provide information about and access to overnight or time deposit accounts at national and foreign banks and which execute the transactions to these accounts, also belong to this category. Some FinTechs however only act on request of the customer.

Aside from that some FinTechs offer software or internet solutions enabling users to manage and plan their personal finances on their own by providing graphics, overviews and compilations of their financial data and sometimes indicating financial risks or opportunities, but without actually managing the assets.


Attitude of the country towards modern asset and portfolio management services

Asset and portfolio management in Tanzania is still a niche market. Currently the only active form of asset management is in a Collective Investment Scheme which is done by a Unit Trust Fund (“UTT”). However, the law does not prohibit the establishment of asset management or hedging funds.

Legal affairs

Obligations and requirements to provide asset and portfolio management, or ancillary services described above

The policy is still underway. So, obligations and requirements are not yet well established.

Additional comments regarding the legal situation for asset and portfolio management services or what FinTech’s must be aware of in this business area


Economic conditions

Market size for asset and portfolio management services and biggest companies in this business area

Since this area is not fully developed, there are many opportunities that can be utilised. This can be through educating the general public to be aware of asset and portfolio managed services.

Additional comments regarding the economic situation for asset and portfolio management services or what FinTech’s must be aware of in this business area

The economy is characterized by a high number of SMEs and a few concentration of high-net-worth individuals. Hence, opportunities for asset and portfolio management are still limited.



© 2022, Hilton Law Group. All rights reserved by Hilton Law Group as author and the owner of the copyright in this chapter. Hilton Law Group has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.


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