DAR ES SALAAM, Jan. 19 -- THE European Unions decision to remove Tanzania, alongside five other African nations, from its list of high-risk financial jurisdictions is far more than a technical regulatory update.

It marks a significant milestone in Tanzanias economic diplomacy and sends a powerful signal to global markets that the country has restored its credibility in the fight against financial crime.

Inclusion on the EUs ‘high-risk list carried real economic consequences.

Since 2023, Tanzanian banks, businesses and individuals have been subjected to Enhanced Due Diligence, meaning every transaction involving European partners faced intrusive and time consuming scrutiny.

In an already fragile global economy, such friction ofte...