What You Need to Know
The Governor of the Bank of Tanzania, Emmanuel Tutuba, met with Singapore’s Ambassador, Douglas Foo, to discuss enhancing cooperation in finance and the digital economy. They explored collaboration in digital payment systems, AI, and regulations for digital currencies, aiming to strengthen financial security and regional trade.
Africa-Press – Tanzania. THE Governor of the Bank of Tanzania (BoT), Emmanuel Tutuba, met with Singapore’s Ambassador to Tanzania, Douglas Foo, in discussions aimed at enhancing cooperation between Tanzania and Singapore in the financial sector and the development of the digital economy.
During the talks, both sides explored opportunities for collaboration in developing digital payment systems, the use of Artificial Intelligence (AI), and improving the regulation of digital currencies to strengthen the security of financial systems. They also emphasized the importance of enhancing regional transaction systems and cross-border trade to facilitate business and increase competitiveness.
The discussions further highlighted the significance of cooperating to address the challenges of climate change and its economic impacts, as well as exchanging technical expertise in financial and digital matters.
Ambassador Foo expressed Singapore’s readiness to continue collaborating with Tanzania in all identified priority areas, aiming to strengthen bilateral relations and promote joint development.
Ambassador Foo, who represents Singapore, is in Tanzania on a six-day working visit from 22 to 27 February 2026.
Tanzania and Singapore have been exploring avenues for collaboration, particularly in finance and technology, as both nations recognize the importance of digital transformation in economic growth. The discussions reflect a growing trend among countries to leverage technology for enhancing financial systems and addressing global challenges such as climate change.
The partnership aims to not only improve financial transactions but also to foster innovation in digital services. By sharing expertise and resources, both countries hope to create a more robust economic framework that can adapt to the rapidly changing global landscape, ensuring mutual benefits and sustainable development.
