DAR ES SALAAM, Aug. 27 -- THE amount of savings in the banks increased by 10.3 per cent to 7.71tri/- at the end of last year, from 6.99tri/- in 2023, mainly due to the increase in the awareness and financial literacy to the public and accessibility of banking services.

According to the Bank of Tanzania (BoT)s Annual Financial Inclusion Report 2024, the other factors that contributed to increased amount of savings in the banks are the conducive government policies and regulations that boosted the opening of new financial services access points.

During the period under review, the number of saving accounts in banks increased by 5,741,411 to 29,524,067 from the level in December 2023.

“This growth was mainly attributed to increased ...