BANKERS and economists have hailed appointment of Mr Emmanuel Tutuba as the new Governor of Bank of Tanzania (BoT), describing him as an experienced economist, who will steer Tanzania’s monetary policy towards the right direction.
President Samia Suluhu Hassan appointed Mr Tutuba, who was hitherto Permanent Secretary in the Ministry of Finance and planning, as the governor of the Central Bank on Saturday night to replace, Prof Florens Luoga, whose tenure at the BoT had come to an end.
In related development, Dr Samia appointed Dr Natu El-Maamry Mwamba, to become Permanent Secretary in the Ministry of Finance and Planning to take over from Mr Tutuba.
In a congratulatory message following the appointment of Mr Tutuba, the Chairman of Tanzania Bankers Association (TBA), Mr Theobald Sabi, said Governor Tutuba’s strong economic policy and public finance track record will be instrumental as he takes over the new responsibility.
“On behalf of the members of the Tanzania Bankers Association, I extend congratulations to Mr Emmanuel Mpawe Tutuba for being appointed Governor of BOT. TBA had the privilege of Mr Tutuba’s leadership, while serving as the Permanent Secretary at the Ministry of Finance and Planning.
“TBA wishes Governor Tutuba success in this new role and remains convinced that we will continue working together, with the same dynamism, for our country’s economic prosperity,” Mr Sabi, who is also the Managing Director of National Bank of Commerce (NBC), remarked.
On the other hand, a senior economics lecturer at Zanzibar University (ZU), Prof Haji Semboja, was confident that the new governor will perform his duties industriously, since he has vast experience in the financial sector.
“Mr Tutuba is capable of handling the new position since he has been in the financial sector for quite so long. I am sure he will perform his new duties diligently given his track record within the ministry of finance.
“The financial sector and central bank in particular are very important institutions since they are not only a local issue but something of global interest,” the seasoned economist told ‘Daily News’ in a telephone interview.
The views by Prof Semboja were shared by another senior economist who once served as Executive Director of a local economic think-tank, Economic and Social Research Foundation (ESRF), Dr Bohela Lunogelo.
“Mr Tutuba has risen through the ranks within the government and the Ministry of Finance and Planning- he is thus vested with vast expertise to enable him to perform his new duties as governor of the central bank. We have the right person for the position,” Dr Lunogelo remarked.
The economist recalled further that during his helm at the Ministry of Finance and Planning, Mr Tutuba accorded maximum cooperation to researchers who sought various data on economic indicators.
“What is more, Mr Tutuba is young compared to his predecessors. I am very sure that his capability and experience coupled with the strong team at BoT will steer the country towards the right direction when it comes to monetary policy,” he opined.
For his part, the Chief Executive Officer (CEO) of Tanzania Commercial Bank (TCB), Mr Sabasaba Moshingi, described Mr Tutuba as an experienced economist who has had a long spell working at the Ministry of Finance and Planning.
“We believe his experience will be an important instrument which will enable him to perform his new duties as the governor. We wish him all the best in fulfilling his new duties,” he observed.
Mr Moshingi noted further that the banking community also welcomes the new governor as the regulator of the industry.
The list of Governors since 1960s
Edwin Mtei – 1966 to 1974
Charles Nyirabu – 1974 to 1989
Gilman Rutihinda – 1989 to 1993
Idris Rashidi – 1993 to 1998
Daudi Ballali – 1998 to 8 January 2008
Benno Ndulu – 8 January 2008 to 7 January 2018
Florens Luoga – 8 January 2018 to January 7, 2023
Emmanuel Tutuba-January 7, 2023-