Foreign shareholding in accounting and auditing firms is limited to 49%.
"Condition of Partnership
11.-(1) A registered member in public practice shall not enter into partnership with a person who is not registered by the Board as a Certified Public Accountant in Public Practice.
(2) Where the partnership involves foreign partners, the local equity partners shall constitute at least fifty one percent, and in any case, the majority of partners shall be the local partners.[...]" (THE ACCOUNTANTS AND AUDITORS (PRACTISING) BY-LAWS, 2017, G.N. NO. 150 published on 31/03/2017)
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"2. In these By-laws, unless the context otherwise requires-[...]
“foreigner” means a person who is not a citizen of the United Republic of Tanzania;[...]
“Public Accountant” means an accountant whose services are available to the public at large who renders accounting or auditing services;[...]" (THE ACCOUNTANTS AND AUDITORS (REGISTRATION) BY-LAWS, 2017, G.N. NO. 151 published on 31/03/2017, last amended in 2021)


THE ACCOUNTANTS AND AUDITORS (PRACTISING) BY-LAWS, 2017
THE ACCOUNTANTS AND AUDITORS (REGISTRATION) BY-LAWS, 2017, last amended in 2021
[<a href="https://www.nbaa.go.tz/uploads/publications/sw1599740610-PRACTICING%20BY%20LAWS%202017.pdf">Reg</a>],[<a href="https://www.nbaa.go.tz/uploads/publications/sw1533895182-REGISTRATION%20BYLAW.pdf">Reg</a>]