Africa-Press – Tanzania. TANZANIA’s financial sector topped the East and Southern African economies, according to the Bank of Tanzania (BoT) Governor, Prof. Florens Luoga, detailing the factors as strong economic management and reforms in the sector.
Prof. Luoga told Members of the House of Representatives in Zanzibar on Monday that the Central Bank was indeed proud of the great success attained as a result of reforms in the financial sector. This reforms made the sector more stable and gave confidence to investors in the country, he noted.
“In terms of lending, for instance, Tanzania ranks third in Africa, just behind Nigeria and Ethiopia,” he said. The Governor, highlighted the importance for stakeholders to work together to specifically attain the sustainable and strategic nation goals.
Prof. Luoga said Tanzania’s central bank will continue to maintain a strong and secure financial system.
Deputy Minister of Finance and Planning, Engineer Hamad Yussuf Masauni, on the other hand called on Members of the House of Representatives to tap into the researchers conducted by the bank to help improve the areas’ well envisioned blue economy.
“You have a key role to play,” he said commending the central bank for organizing a program for Members of the House of Representatives that he believe could common understanding in the management of the financial sector for national development and economic growth of the people.
