The Bank of Tanzania (BoT) has continued to serve as a key pillar of Tanzania’s economic independence since its establishment in 1966, ensuring price stability, a sound financial sector, and the development of payment systems in the country.

Speaking at the 60th anniversary celebrations of the Central Bank held in Dar es Salaam on June 12, 2026, the President of the United Republic of Tanzania, H.E. Dr. Samia Suluhu Hassan, said these achievements reflect the institution’s significant contribution to safeguarding and advancing the national economy over six decades.

President Samia noted that the issuance of the first banknotes in 1966, featuring the image of Mwalimu Julius Nyerere and Mount Kilimanjaro, symbolized the country’s self-reliance and its capacity to shape its own economic future.

She further explained that the role of the Central Bank has since expanded, touching the daily lives of citizens, including teachers, small-scale traders, and young entrepreneurs who depend on a stable financial sector to achieve their goals.

President Samia highlighted that throughout its history, the Bank has continued to adapt to the evolving needs of the economy—from the era of the Arusha Declaration, through the economic challenges of the 1980s, to the transition to a market-based economy—developments that have contributed to the current economic stability.

She also commended the Bank for its role in addressing recent challenges, including the COVID-19 pandemic and rising global commodity prices, noting that the measures taken helped protect the country’s economy.

In addition, she praised the Domestic Gold Purchase Programme launched in 2024, which has enabled the Central Bank to acquire more than 25 tonnes of gold as of May 2026, thereby strengthening foreign exchange reserves.

On the future of the financial sector, President Samia emphasized the importance of innovation, digital transformation, and financial inclusion, calling for financial services to reach all citizens, particularly women, youth, and rural communities.

She urged the Central Bank to collaborate with the Ministry of Finance and other stakeholders to improve access to credit, establish alternative collateral systems, and create an enabling environment for financial technologies and digital banking.

Furthermore, she encouraged efforts to reduce reliance on cash by strengthening digital payment systems to enhance transparency and efficiency in the economy.

On climate change, President Samia called on the Central Bank to integrate its impacts into financial sector policies and supervision, noting that climate change directly affects production and economic stability.

In her concluding remarks, the President stressed that in achieving the National Development Vision 2050, the Central Bank has a crucial role in maintaining price stability, ensuring financial sector soundness, and developing financial markets for national prosperity.

On his part, the Governor of the Bank of Tanzania, Mr. Emmanuel Tutuba, stated that over the past 25 years, Tanzania’s economy has grown at an average rate of 6.2 percent, surpassing the Sub-Saharan Africa average of 4.4 percent.

He added that inflation has remained under control at single-digit levels, averaging 7.5 percent over the same period. In the past three years, the situation has improved further, with inflation averaging 3.5 percent—within the medium-term target range of 3 to 5 percent.

Governor Tutuba noted that these achievements are significant compared to the peak inflation rate of 35.3 percent recorded in 1994, emphasizing that the measures taken have greatly contributed to strengthening the country’s economic stability.

The event, which also featured the launch of a special commemorative book marking BoT’s 60th anniversary, was attended by various national and international leaders, including Central Bank Governors from EAC and SADC countries.