In an official statement, Governor Emmanuel Tutuba urged the public to ignore and condemn such misinformation, describing it as misleading and potentially damaging to the country’s financial stability.
Dar es Salaam. The Bank of Tanzania has categorically dismissed false claims circulating on social media suggesting that it is printing money to finance elections and that certain commercial banks are running out of cash.
In an official statement, Governor Emmanuel Tutuba urged the public to ignore and condemn such misinformation, describing it as misleading and potentially damaging to the country’s financial stability.
Governor Tutuba emphasised that the Bank issues currency strictly in accordance with Section 26 of the Bank of Tanzania Act, Chapter 197. “Currency is released into circulation based on economic needs and to replace worn-out notes, not for political financing or other unauthorised purposes,” he stated.
He added: “The central bank continues to effectively manage monetary policy, contributing to strong macroeconomic performance in 2025.”
Governor Tutuba highlighted that inflation has remained low at an average of 3.3 per cent for the first ten months of the year, with economic growth projected at six per cent for 2025.
The current account deficit has narrowed to 2.4 per cent of GDP by September, while the Tanzanian shilling has appreciated by 8.8 per cent year-on-year. Foreign exchange reserves have risen to $6.7 billion, sufficient to cover 5.4 months of imports.
The Governor reassured the public about the soundness and resilience of the country’s banking sector. All banks operate under strict legal and regulatory frameworks aligned with international standards.
As of September 2025, Tanzanian banks maintain adequate capital and liquidity buffers, sustained profitability, and a low non-performing loan ratio of 3.3 per cent, well below the accepted 5 per cent threshold.
He further discouraged the public from withdrawing cash to store at home, warning of risks including theft, misuse, loss, and damage.
Citizens were encouraged to continue banking as usual, benefiting from secure deposits, interest or annual profits, and deposit insurance protection.
“The financial system is stable, payment systems are functioning efficiently, and there is no reason to panic. These rumours are baseless and dangerous,” Governor Tutuba stated.
The Bank issued a stern warning to those spreading misinformation, demanding an immediate cessation of actions that could undermine public confidence and harm the national economy.
