By Esther Myika
Central bank governors from member states of the Southern African Development Community (SADC) have met in Dar es Salaam to discuss strategies for confronting the economic challenges continuing to emerge across the global economy, with international conflicts and inflation singled out among the biggest threats to the region’s growth.
Speaking at the meeting on Wednesday, 11 June 2026, in Dar es Salaam, the Governor of the Bank of Tanzania (BoT), Emmanuel Tutuba, said the SADC region faces a difficult economic environment driven in part by the ongoing conflicts in the Middle East — a situation that requires member states to coordinate their monetary and economic policies closely.
He said the region’s central banks would continue to work together to improve payment systems, strengthen financial services and harness modern technology in order to raise the efficiency of the financial sector and support sustainable economic growth across the bloc.
“We are meeting at a time when our region is facing major economic challenges caused by the ongoing conflicts in the Middle East. This meeting gives us an opportunity to reflect together on these challenges and to coordinate strategies for confronting them, in Tanzania and in our region as a whole,” Tutuba said.
The meeting brought together central bank governors and senior monetary policy officials from the 16 SADC member states, with the aim of reviewing the region’s economic trends and discussing measures to counter new risks that could undermine economic development. Discussions centred on maintaining price stability, improving payment systems, strengthening liquidity in the banking sector and widening access to affordable credit for citizens and the private sector in order to spur growth.
Member states have continued to implement joint regional measures alongside specific national policies aimed at cushioning the impact of economic shocks and protecting the resilience of their financial systems.
Despite the challenges currently facing the world, Tanzania’s economy has continued to show strength. The financial sector has remained stable and sound, helping to soften the impact of external economic shocks. According to figures presented at the meeting, Tanzania’s economy grew by 5.2 per cent last year and is projected to expand by 6.3 per cent this year on the back of continuing investment and strong economic fundamentals.
The leaders also noted that, while inflation has remained within the central bank’s target range, it remains important to keep taking measures to ensure that economic growth proceeds in step with price stability.
For the SADC region as a whole, the meeting is expected to produce joint strategies to contain inflation, strengthen payment systems, expand financial services and increase access to affordable credit, while ensuring that the stability of the financial sector continues to be safeguarded. Participants are also discussing how to accelerate the adoption of digital payment technologies and deepen cooperation in financial services, so as to support economic integration and trade within the bloc.
The meeting was held alongside celebrations marking 60 years of the Bank of Tanzania — a milestone that recognises its contribution to monetary policy management, the development of the financial sector and the reform of payment systems, which together have helped to broaden financial inclusion and improve the efficiency of transactions in the country.