HISTORICAL BACKGROUND

The Ministry of Finance was established shortly after independence in 1961. It has undergone several changes to enhance the efficiency in managing government activities. These changes were focused on leadership and responsibilities. In 1962, it was called the Ministry of Finance; in 1967, it became the Ministry of Finance and Planning; in 1983, it was transformed into the Ministry of State, Planning, and Economy; in 2008, it was the Ministry of Finance and Economy; in 2010, it became the Ministry of Finance; in 2015, it was the Ministry of Finance and Planning, and in July 2023, The Government changed it to the Ministry of Finance.

The Ministry of Finance oversees the revenues, expenditures, and finances of the United Republic of Tanzania. It also provides the government with advice on broad financial and economic issues to support its goals of promoting economic growth and societal development.

The Ministry of Finance is also an authority responsible for managing the creation of tax policies, financial control, revenues, banking, insurance, accounting, public procurement, loans, and credit policies, monitoring their implementations, coordinating finances and aid from foreign countries, taxation, and foreign exchange matters. The Ministry consists of Divisions and Units as follows:

1. Policy Analysis Division,
2. Debt Management Division,
3. Financial Sector Management Division,
4. External Finance Division,
5. Government Budget Management Division,
6. Public Procurement Policy Division,
7. Accountant General Division,
8. Internal Auditor General Division
9. Financial Information System and IT Services Division,
10. Government Asset Management Division,
11. Administration and Human Resources Management Division,
12. Planning Division,
13. Legal Services Division,
14. Finance and Accounting Unit,
15. Internal Audit Unit,
16. Public-Private Partnership Unit,
17. Procurement Management Unit,
18. Government Communication Unit.