TANZANIA, Aug. 11 -- THE Bank of Tanzanias launch last week of Tanzanias Sovereign Yield Curve may not have attracted the same public attention as a major policy announcement or a large government investment.

Yet, for Tanzanias financial sector, it could prove to be one of the more consequential developments of the year.

A yield curve may sound like a technical instrument designed for economists, bankers and investment professionals. In reality, it is a fundamental piece of financial-market infrastructure. If properly developed and consistently used, it can improve how government securities, corporate bonds, bank loans and other financial assets are priced and traded.

Its significance therefore goes well beyond the government bond mark...