Bank of Tanzania grants licenses to hotels for bureau de change operations

Bank of Tanzania grants licenses to hotels for bureau de change operations

Dar es Salaam. The Bank of Tanzania (BoT) said it has approved licenses for more than 30 hotels to establish bureau de change, in efforts to streamline currency exchange services within the hospitality sector and ensure compliance with the national financial regulations.

The central bank introduced new Foreign Exchange (Bureau de Change) Regulations last year, which allowed the hotels with three stars and above to establish the money shops with no minimum capital required.

BoT senior inspector for financial sector supervision, Mr Gwamaka Charles, said that the move will ease the currency exchange process for both international and local visitors who have had to seek such services outside their hotels.

“We have granted licenses to over 30 hotels across the country, enabling them to offer bureau de change services within their premises,” said Mr Charles during the official launch of a new bureau de change at the Hyatt Regency Hotel in Dar es Salaam, at the weekend.

“Such development not only provides convenience for guests but also ensures that all transactions are conducted legally and in accordance with the law,” he added.

He emphasised that the central bank’s regulatory framework mandates that all payments in Tanzania be made in the local currency, the Tanzanian Shilling.

The introduction of bureau de change within hotels will support the requirement by providing a legal and accessible means for guests to convert their foreign currency, he said.

Mr Charles further clarified that the licensing requirements for hotels are relatively lenient compared to other currency exchange operators, who are required to have a starting capital ranging from Sh200 million to Sh1 billion. The hotels have no requirement for minimum capital.

According to him, exchanging foreign currency without proper licensing is illegal and could result in a prison sentence of up to 14 years or a fine of Sh4 million, or both.

“The establishment of these licensed bureau de change within hotels is a positive step for both the hospitality industry and the customers they serve.

It not only prevents the inconvenience associated with seeking these services elsewhere but also aligns with the legal requirements,” Mr Charles added.

Hyatt Regency was among the first hotels to receive a license for the service.

Speaking at the event, the hotel’s general manager, Mr Alexander Eversberg, expressed satisfaction with the new offering, which he said would significantly enhance the guest experience.

“Guests at our hotel will now be able to exchange currency conveniently within the hotel premises, something that was previously unavailable,” Mr Eversberg said.

“This service is not just about convenience; it is also about ensuring compliance with the central bank requirements,” he added.

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Tanzania Confirms Second Marburg Outbreak After WHO Chief Visit
Tanzania Foreign Investment News
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Tanzania Confirms Second Marburg Outbreak After WHO Chief Visit

Dar es Salaam — Tanzania’s President Samia Suluhu Hassan has declared an outbreak of Marburg virus, confirming a single case in the northwestern region of Kagera after a meeting with WHO director-general Tedros Adhanom Ghebreyesus.

The confirmation follows days of speculation about a possible outbreak in the region, after the WHO reported a number of deaths suspected to be linked to the highly infectious disease.

While Tanzania’s Ministry of Health declared last week that all suspected cases had tested negative for Marburg, the WHO called for additional testing at international reference laboratories.

“We never know when an outbreak might occur in a neighbouring nation. So we ensure infection prevention control assessments at every point of care as routine as a morning greeting at our workplaces.”Amelia Clemence, public health researcher

Subsequent laboratory tests conducted at Kagera’s Kabaile Mobile Laboratory and confirmed in Dar es Salaam identified one positive case, while 25 other suspected cases tested negative, the president told a press conference in Dodoma, in the east of the country today (Monday).

“The epicentre has now shifted to Biharamulo district of Kagera,” she told the press conference, distinguishing this outbreak from the previous one centred in Bukoba district.

Tedros said the WHO would release US$3 million from its emergencies contingency fund to support efforts to contain the outbreak.

Health authorities stepped up surveillance and deployed emergency response teams after the WHO raised the alarm about nine suspected cases in the region, including eight deaths.

The suspected cases displayed symptoms consistent with Marburg infection, including headache, high fever, diarrhoea, and haemorrhagic complications, according to the WHO’s alert to member countries on 14 January. The organisation noted a case fatality rate of 89 per cent among the suspected cases.

“We appreciate the swift attention accorded by the WHO,” Hassan said.

She said her administration immediately investigated the WHO’s alert.

“The government took several measures, including the investigation of suspected individuals and the deployment of emergency response teams,” she added.

Cross-border transmission

The emergence of this case in a region that experienced Tanzania’s first-ever Marburg outbreak in March 2023 has raised concerns about cross-border transmission, particularly following Rwanda’s recent outbreak that infected 66 people and killed 15 before being declared over in December 2024.

The situation is particularly critical given Kagera’s position as a transport hub connecting four East African nations.

Amelia Clemence, a public health researcher working in the region, says constant vigilance is required.

“We never know when an outbreak might occur in a neighbouring nation. So we ensure infection prevention control assessments at every point of care as routine as a morning greeting at our workplaces.”

The Kagera region’s ecosystem, home to fruit bats that serve as natural reservoirs for the Marburg virus, adds another layer of complexity to disease surveillance efforts.

The virus, closely related to Ebola, spreads through contact with bodily fluids and can cause severe haemorrhagic fever.

Transparency urged

Elizabeth Sanga, shadow minister of health for Tanzania’s ACT Wazalendo opposition party, says greater transparency would help guide public health measures.

“This could have helped to guide those who are traveling to the affected region to be more vigilant and prevent the risk of further spread,” she said.

WHO regional director for Africa Matshidiso Moeti says early notification of investigation outcomes is important.

“We stand ready to support the government in its efforts to investigate and ensure that measures are in place for an effective and rapid response,” she said, noting that existing national capacities built from previous health emergencies could be quickly mobilised.

The situation coincides with leadership changes in Tanzania’s Ministry of Health, with both the chief medical officer and permanent secretary being replaced.

This piece was produced by SciDev.Net’s Sub-Saharan Africa English desk.

Source: allafrica.com

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