By Charles Mkoka
DAR ES SALAAM, Tanzania — Tanzania's economy remains resilient, with inflation holding at around 4%, reflecting the effectiveness of the country's monetary policy framework and financial sector management, Bank of Tanzania (BoT) Governor Emmanuel Tutuba said on Friday.
Speaking after visiting the central bank's pavilion at the 50th Dar es Salaam International Trade Fair, popularly known as Sabasaba, Tutuba said the stable inflation rate demonstrates the country's ability to maintain macroeconomic stability despite ongoing global economic uncertainties.
He said the central bank's recent decision to maintain the benchmark policy rate at 6.25% was intended to support liquidity in the banking sector, stimulate private-sector lending and preserve price stability.
"The economy has continued to perform strongly, with inflation remaining around 4%. This reflects the effectiveness of the monetary policies and financial sector reforms being implemented by the Bank of Tanzania," Tutuba said.
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The governor noted that Tanzania has continued to attract investment despite global economic challenges, attributing the trend to sound monetary management, secure payment systems and continued investment in human capital within the financial sector.
During his visit, Tutuba also received a briefing on the "Sema na BoT" platform, a digital system established to receive and resolve complaints from users of financial services.
He directed officials to further strengthen the platform to ensure broader accessibility, particularly for citizens who face challenges using digital services.
Tutuba said the central bank has made significant progress since its establishment in 1966, citing advances in financial sector development, payment systems modernisation and the expansion of financial services across the country.
The annual trade fair provides an opportunity for the public to learn about the central bank's mandate and its role in supporting economic growth, financial stability and consumer protection.
