Prime
Bank of Tanzania calls for stronger role of financial experts in digital economy
BOT Governor Emmanuel Tutuba
What you need to know:
- Tanzania projects GDP growth of 6.1 percent in 2025 and 6.4 percent in 2026, up from 5.9 percent in 2024, with inflation expected to stay between 3.2 percent and 3.5 percent.
Arusha. The Bank of Tanzania (BoT) has urged financial experts to take a more active role in accelerating inclusive economic growth through digital finance and close monitoring of global trends.
BoT Governor Emmanuel Tutuba made the call on May 28 at the opening of a three-day seminar for auditors, accountants, and economists in Arusha, where he emphasised the role of digital platforms in expanding access to financial services.
Tutuba said digital tools must be designed to reach marginalised groups — including youth, persons with disabilities, and workers in agriculture and fisheries — who are often excluded from formal systems.
“This year, I urge you to explore how digital finance can better serve underserved populations and boost our economy,” he said.
He cited the government’s 10-year National Digital Economy Framework (2024–2034), which aims to integrate digital systems across all sectors.
Tanzania projects GDP growth of 6.1 percent in 2025 and 6.4 percent in 2026, up from 5.9 percent in 2024, with inflation expected to stay between 3.2 percent and 3.5 percent.
Tutuba, however, warned of risks including cybercrime, tax evasion, and informal financial practices, saying they could hinder economic progress.
“These threats have real consequences. Financial professionals must act early to mitigate them,” he said, while also encouraging a global outlook to adopt best practices.
He underlined the need for integrity and precision in financial reporting, linking strong institutional reporting to national performance.
National Board of Accountants and Auditors (NBAA) Executive Director Pius Maneno said this 25th annual seminar gathered 700 professionals to discuss 11 topics, including digital finance in economic management.
He announced that, from July 2025, all audit reports will be submitted to NBAA for verification and registration, each with a unique ID number to prevent document fraud.
“This new system will enhance accountability and close loopholes in financial reporting,” said Maneno.
NMB Northern Zone Manager Baraka Ladislaus said the bank continues to roll out customised financial solutions, including loans for small businesses and housing, aimed at strengthening community-level economic resilience.
