Formal Borrowing Statistics in Tanzania (2026)
In 2024, 4.9% of adults in Tanzania borrowed from a formal financial institution, according to World Bank Global Findex data. Up from 4.4% in 2021 to 4.9% in 2024 (+0.5 percentage points). Tanzania ranks #27 of 36 economies in Sub-Saharan Africa on this measure, and #129 of 142 globally.
Key Statistics
- Latest value (2024)
- 4.9% (2024)
- Formal Borrowing in Tanzania as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2021
- +0.5 pp (2024)
- Up from 4.4% in 2021 to 4.9% in 2024 (+0.5 percentage points).
- Earliest value in this dataset (2014)
- 6.7% (2014)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Down from 6.7% in 2014 to 4.9% in 2024.
- Peak value (2014)
- 6.7% (2014)
- Highest value in the available series; the 2024 value is 4.9%.
- Rank in Sub-Saharan Africa
- #27 of 36 (2024)
- Tanzania ranks 27 of 36 countries in Sub-Saharan Africa with data, based on each country's latest value.
- Global rank
- #129 of 142 (2024)
- Tanzania ranks 129 of 142 countries with data globally.
- Sub-Saharan Africa average
- 7.8% (2024)
- Tanzania (4.9%) is below the average of 7.8% across the 36 countries in Sub-Saharan Africa with data.
- Internet use in Tanzania (2024)
- 31.2% (2024)
- 31.2% of the population in Tanzania used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 68.6 million (2024)
- Tanzania had a population of 68.6 million in 2024 (World Bank); shown for scale only.
Trend, 2014–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 4.9% | +0.5 pp |
| 2021 | 4.4% | −0.8 pp |
| 2017 | 5.3% | −1.4 pp |
| 2014 | 6.7% | — |
Frequently asked questions
What share of adults in Tanzania borrowed from a formal financial institution?
4.9% of adults in Tanzania borrowed from a formal financial institution in 2024, according to World Bank Global Findex data.
How does Tanzania compare with other countries in Sub-Saharan Africa?
Tanzania ranks 27 of 36 countries in Sub-Saharan Africa with data, with 4.9% versus a regional average of 7.8% (latest values per country).
Where does Tanzania rank globally on formal borrowing?
Tanzania ranks 129 of 142 countries with data globally, based on the latest World Bank Global Findex value for each country.
When did formal borrowing in Tanzania peak?
The highest value in the available series was 6.7% in 2014; the latest (2024) value is 4.9%.
How recent is the formal borrowing data for Tanzania?
The most recent observation is from 2024. World Bank Global Findex data is reported with a lag, so 2024 is the latest available year for Tanzania.
Source & methodology
Source: World Bank Global Findex, indicator
fin22a, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .