The Bank of Tanzania (BoT) has been urged to incorporate environmental policies into the execution of its duties to support the development of economic activities and sustainable economic growth in the country as a whole.  

During a visit to the BoT pavilion at the National Exhibition of Mining Technology in Geita region, Hon. Dr. Selemani Jafo, Minister of State in the Office of the Vice President for Union and Environment, stressed the importance of the Central Bank incorporating environmental conservation into its monetary policy management.

"The effects of climate change are profound. When we see some districts suffering from drought, livestock dying, and crops failing to grow, it is time to reflect on the importance of the environment. If we don't protect the environment, our capacity to produce crops will be compromised. This could lead to a shortage of exportable goods, causing the nation to lose foreign exchange revenue," he stated.

Furthermore, Dr. Jafo added that it is the responsibility of all stakeholders, including financial institutions like the Central Bank, to contribute to environmental conservation efforts to ensure that economic development aligns with environmental preservation.

Additionally, Dr. Jafo called on the BoT to intensify public education initiatives regarding the importance of using payment systems for various goods and services.

He pointed out that payment systems make the payment process easy and quick, as users can make payments using mobile phone apps or bank cards without the need to carry cash or endure long waits in bank queues or stores.

Earlier, BoT employees, led by the minister, participated in a tree planting exercise at the Bombambili grounds in the Geita region as part of the government's efforts to conserve the environment, facilitating national development, and building a sustainable economy for future generations.