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Central Bank of Tanzania Gets New Governor

Emmanuel Tutuba Governor Bank of Tanzania

On 7th January 2023 the President of Tanzania, Hon. Samia Suluhu Hassan has appointed Mr. Emmanuel Mpawe Tutuba, Permanent Secretary of the Ministry of Finance and Planning to be the Governor of the Central Bank of Tanzania (BOT).

Mr. Tutuba replaces Prof. Florens Luoga who has finished his first and only tenure that started in 2018 when he was appointed by the late President John Magufuli.

BOT’s primary objective is to maintain price stability with monetary policies and a medium-term target inflation rate of 5%.

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However, Tanzania’s annual inflation rate reached a five-year high in October 2023 at 4.9% and stayed the same in November.

And in the same month, the Food and Non-Alcoholic Beverages Inflation Rate increased to 9.5%.

Tutuba was the Permanent Secretary of the Ministry of Finance and Planning since 2021 when he was appointed by President Hassan.

He holds an advanced diploma in economic planning and an MBA in corporate management.

President Hassan also appointed Dr. Natu El-Maamry Mwamba to replace Tutuba as Permanent Secretary.

Dr. Mwamba was a Senior Lecturer at the University of Dar es Salaam and Chairman of the Board of the Kilimanjaro Airport Operating Company (KADCO).

She served as Deputy Governor of BOT from 2011 to 2017.

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