The Governor of the Bank of Tanzania, Emmanuel Tutuba, participated in the 60th Meeting of the Committee of Central Bank Governors (CCBG) of SADC member states, held on May 16, 2025, in Maputo, Mozambique.

The meeting focused on discussing the economic situation of the SADC region, strengthening regional cooperation, and addressing new policy challenges arising from global political and economic shifts.

The Bank of Tanzania (BoT) presented a paper on the impact of global developments on SADC countries, highlighting the risks of reduced aid from the United States, new tariffs on products from the region, uncertainty over the future of the African Growth and Opportunity Act (AGOA), and the ongoing conflict in the Democratic Republic of Congo (DRC) and its effects on neighboring countries.

BoT emphasized the need for closer cooperation among SADC countries to build economic resilience and a collective capacity to respond to these challenges.

A report presented by the SADC Economic Subcommittee indicated that the region's economic growth slowed to 3.1% in 2024. However, Tanzania (5.5%) and the DRC (7.9%) recorded the highest growth rates. Tanzania was also recognized among the few countries that met several macroeconomic stability criteria, including low inflation, sustainable government debt, a manageable current account deficit, and limited central bank financing to the government.

Speaking on regional payment systems, Governor Tutuba stressed the importance of simultaneously advancing the TCIB system for small cross-border transactions and the SADC-RTGS system for large-value payments.

He noted that Tanzania has a strong payment system infrastructure – TIPS for small transactions and TISS for large ones – which can serve as a model for SADC efforts to integrate regional financial systems.

The meeting concluded with a call for SADC countries to continue enhancing cooperation in monetary policy, payment systems, and monitoring regional economic trends to support shared prosperity.