The Ministry of Finance was established soon after Independence in 1961. It has undergone several changes geared towards increasing efficiency in the management of Government operations. The changes aimed at the aspect of leadership, responsibilities and the name of the Ministry. In 1962 it was called Ministry of Finance, 1967 Ministry of Finance and Planning, 1983 Ministry of State Planning and Economic Affairs, 2008 Ministry of Finance and Economic Affairs, 2010 Ministry of Finance and 2015 Ministry of Finance and Planning.

The Ministry of Finance and Planning manages the overall Revenue, Expenditure and financing of the Government of the United Republic of Tanzania and provides the Government with advice on the broad Financial and Economic affairs of Tanzania in support of the Government’s economic and social objectives.

The Ministry of Finance and planning also is an instrument that mandates, formulation of Financial control taxation, Revenue, Banking, insurance, Accounting, public Procurement, Loans and Credit Policies and monitor their implementation, Coordination of External Finance and Aid, Tariffs, Currency and Exchange issues. To accomplish all the functions, the Ministry is organized in divisions; Policy Analysis Division, External Finance Division, Government budget Management Division, Poverty Eradication and Economic Empowerment Division, Public Procurement Policy Unity, Accountant General Division, Internal Audit Generals Division, Financial Management Information Systems Division, Government Asset Management Division, Administration and human Resources Management Division, Planning Division, , Finance and Accounts Units, Internal Audit Unity, Public private partnership Unity, Legal Services Unity and Information, Education and Communication Unity.

The MoFP library is open to all professionals of the Ministry of Finance and Planning, therefore, a gateway to excellent performance of their daily activities for the betterment of the Ministry and the National at large. The Library of the Ministry of Finance and planning was formed in order to support and provide knowledge to the Ministry. The idea of forming the library came from 2007 under the department of Policy Analysis, where they had an idea of having a special room where they could keep/store budget books, and other documents produced by MoFP. In 2009 the library was officially formed where there were a library room contains furniture and documents. All activities were conducted manually.

Initiatives to Digital Library

In 2017 the initiatives to migrate the Library from manually to electronic started. In 2018 the MOFP Library merged with the library of the Planning commission, this led to the success of MOFP Library become an electronic library, because the library of Planning commission were already full digitized. In 2018 the database known as (ABCD) was installed. ABCD database is an open source database, powerful and up to date and it is also used by Academic institutions eg. SUA, Nelson Mandela institute of science and Technology. This software enhances all activities of library to be done electronically. eg Cataloguing, Searching information (OPAC), uploading of documents.