Emmanuel Tutuba, Governor of the Bank of Tanzania

Emmanuel Tutuba is the current Governor of the Bank of Tanzania (BoT). He assumed office in January 2023 after taking over from Professor Flores Luoga. Before this, he was a Permanent Secretary at the Ministry of Finance and Planning, a position which he was appointed to by President Samia in 2021. He also served in various senior positions in the government, including Regional Administrative Secretary, Assistant Commissioner for External Finance, Assistant Commissioner for Budget, and member of boards for multiple institutions, committees and government teams.

Governor Tutuba’s mission is to ensure price stability, financial sector stability, financial inclusion, efficiency and safety of payment systems, and sustainable and inclusive economic growth. He has emphasised the importance of capital markets in stimulating economic development and achieving success in the digital economy. With this, we have seen the closing of DCB Commercial Bank Plc’s rights issue share sale at the Dar es Salaam Stock Exchange (DSE).

Under his leadership, the BoT continues to execute monetary policy effectively to control inflation and ensure financial stability. For example, the country’s current account deficit narrowed to 2.7% of the gross domestic product (GDP) in 2024, down from 3.7% in 2023. Foreign exchange reserves reached $5.5 billion, enough to cover 4.7 months of imports. The national debt remained sustainable, standing at 41.1 per cent of the GDP, well below the Southern African Development Community (SADC) benchmark of 55 per cent.

Governor Tutuba completed his A-levels in 1994 at Milambo Secondary School in Tabora, where he studied economics, geography, and mathematics. In 1999, he earned an Advanced Diploma in Economic Planning from Mzumbe University’s Institute of Development Studies, and later, in 2001, he graduated with an MBA in Corporate Management from the same institution.