Tanzania: Emmanuel Tutuba, new governor of Central Bank

Samia Suluhu Hassan, President of Tanzania, has appointed Emmanuel Tutuba as governor of the country’s central bank, in replacement of Florens Luoga, whose five-year tenure at the head of the bank came to an end.

Tutuba, prior to the appointment, was the permanent secretary at the Ministry of Finance and Planning. He inherits an economy facing inflationary pressure – inflation stood at 4.9% in November, roughly a five-year high – as well as a softer currency as the result of global economic pressures associated with the Russia-Ukraine conflict.

The Eastern African country in November announced that an increase in fiscal spending in 2023 with a focus on infrastructure projects, and that its economy is expected to grow faster than the previous year.

Tutuba becomes the eighth governor to take charge of BOT. Since 1966, Bank of Tanzania has had Seven Governors and 11 deputy governors.