Tanzanian President John Magufuli has appointed Emmanuel Tutuba as the new Governor of the Bank of Tanzania (BoT). Tutuba, who has been serving as Deputy Governor since February 2020, will take over from Benno Ndulu who retired in October.
The appointment of Tutuba was made public in a statement released by the President’s Office on Wednesday. The statement said that the President appointed Tutuba to the position in line with the Bank of Tanzania Act of 1995, which stipulates that the Governor is appointed by the President.
Tutuba, who holds a PhD in Economics from the University of Dar Es Salaam, is a seasoned banker. He has held various positions within the BoT since joining the bank in the 1980s. He has served as Director of Research, Director of Bank Supervision and Deputy Governor.
Tutuba has also held various positions in other financial institutions. He has served as a member of the Board of Directors of the African Development Bank, as well as a member of the Board of Directors of the East African Development Bank. He has also held positions in the International Monetary Fund and the World Bank.
Tutuba is expected to bring a wealth of experience to his new job. He brings with him a deep knowledge of the Tanzanian economy and financial systems and is likely to focus on the development of a sound and stable financial system in the country.
He is also likely to focus on the promotion of financial inclusion and access to banking services, which has been lacking in Tanzania for many years. He is also expected to promote the development of the country’s capital markets, which are still in their infancy.
Tutuba’s appointment is seen as an important step in the President’s economic agenda, which is focused on boosting economic growth and reducing poverty in Tanzania. It is also seen as a sign of the President’s commitment to strengthening the financial sector and improving the country’s economic performance.
It remains to be seen what impact Tutuba’s appointment will have on the Tanzanian economy, but it is likely to be positive. With his experience and expertise, he is expected to be able to make a positive contribution to the country’s economic growth and stability.