The Governor of the Bank of Tanzania (BoT), Emmanuel Tutuba, has called on central banks across the Southern African Development Community (SADC) to strengthen digital security and operational resilience to keep pace with rapid technological changes and emerging financial risks.
Speaking at the SADC Central Bank Governors’ Subcommittee meeting, Governor Tutuba said the banking environment is evolving fast, driven by technology, rising cyber threats, and increasing public demand for reliable and uninterrupted financial services.
“The theme of this meeting, ‘Future-Ready Central Banks: Technology, Security, and Operational Resilience in Action’, underscores the importance of strong risk management systems to ensure that investments in technology meet strategic objectives,” he said.
He warned that sophisticated cybercrime continues to threaten critical financial infrastructure and stressed the need for regional cooperation in sharing information and jointly preparing for potential threats.
Governor Tutuba also highlighted the potential of emerging technologies, such as Artificial Intelligence (AI) and data analytics, to improve financial sector supervision.
He, however, stressed that these tools must be applied with strict ethical standards, solid governance, and comprehensive risk controls.
Reflecting on BoT’s achievements over the past year, he noted significant upgrades in IT infrastructure, improved security of core systems, and enhanced capacity to restore services during emergencies.
“These steps have strengthened the stability and reliability of financial services in Tanzania and aligned our operations with regional best practices,” he added.