Tanzania's central bank governor Emmanuel Tutuba told graduates at a banking institute ceremony that the country's financial sector keeps getting stronger, with total assets hitting 71.89 trillion shillings and bad loans dropping to just 3.27 percent. The Bank of Tanzania boss said capital buffers are sitting at 19 percent, which is way above what regulators require, and liquidity looks solid at 27.4 percent.
The economy expanded by 5.5 percent last year and is tracking at 5.8 percent growth through the first three quarters of this cycle. Tutuba pointed out that inflation stayed flat at 3.3 percent, beating global averages, while the current account deficit shrank from eight percent down to 2.6 percent. He told the 74 banking graduates that professionals in their field need to keep learning about digital tools and data analytics because that's where the industry is heading.
The economy expanded by 5.5 percent last year and is tracking at 5.8 percent growth through the first three quarters of this cycle. Tutuba pointed out that inflation stayed flat at 3.3 percent, beating global averages, while the current account deficit shrank from eight percent down to 2.6 percent. He told the 74 banking graduates that professionals in their field need to keep learning about digital tools and data analytics because that's where the industry is heading.
