Dar es Salaam. The Bank of Tanzania (BoT) has assured the public that the country’s payment systems are secure, fully operational, and protected against fraud and cyber threats.
Speaking during the BoT Iftar, the central bank’s Governor, Emmanuel Tutuba, said all banking payment systems are functioning normally and continue to support economic activity across the country.
“Our payment systems are operating well, and there has been no hacking in any banks,” Tutuba said. “Security teams are monitoring fraud and cyber threats, particularly from individuals with malicious intentions.”
He stressed that responsible financial behaviour among borrowers is essential for maintaining stability in the financial sector.
Reports show that Tanzanian banks are laying the foundations for artificial intelligence (AI) to detect fraud, automate operations, and improve customer services, while addressing a rise in cyber-attacks targeting financial institutions across East Africa.
Tanzania’s banks are implementing AI-driven solutions for fraud prevention, cybersecurity, personalisation, and automation, supported by robust and well-connected infrastructure.
“If people follow ethical practices, including borrowing and repaying loans on time, it will reduce financial risks and allow financial resources to be used more effectively for development,” Tutuba said.
The governor said Tanzania’s economy remains resilient due to sound economic policies and stable leadership.
“Our economy continues to perform steadily because of effective economic policies and a stable financial system,” he said, noting that the financial sector has adequate capital and liquidity to support growth.
Data presented during the event showed Tanzania’s economy grew by about six percent in 2025, while Zanzibar recorded growth of around 6.8 percent.
“Mainland Tanzania is expected to grow by about 6.3 percent in 2026, while Zanzibar’s economy could expand by around 7.2 percent,” Tutuba added.
He attributed the positive outlook to effective monetary and fiscal policies, improvements in the business environment, and rising export earnings.
“We are seeing steady performance in key sectors such as tourism and exports of gold, cashew nuts, and coffee,” he said.
On gold sales, Tutuba said the central bank occasionally sells part of its reserves to maintain foreign exchange liquidity, manage reserve diversification, and support macroeconomic stability.
The governor also highlighted the importance of unity and ethical conduct during the holy month of Ramadan.
“Ramadan reminds us to strengthen integrity, compassion, and cooperation in our society,” he said. “These values are important not only for social harmony but also for building a trustworthy economy.”
Temeke Municipal Council Mayor Uzairu Abdul Athumani urged citizens to respect their tax obligations, saying it supports roads, schools, hospitals, and national development.
“When citizens contribute honestly, the government can deliver services to all. Let us pay our taxes willingly and on time, because a strong nation is built by responsible taxpayers working together for Tanzania’s future.”
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