The Bank of Tanzania (BoT) will begin circulating new banknotes on February 1, 2025, featuring updated signatures of Finance Minister Dr. Mwigulu Nchemba and BoT Governor Emmanuel Tutuba.
The announcement was made by Governor Tutuba while presenting sample banknotes of denominations 10,000/-, 5,000/-, 2,000/-, and 1,000/- to Minister Nchemba at the Ministry of Finance offices in Dar es Salaam.
“I am pleased to inform you, that the printing of the new banknotes, based on the 2010 series, has been completed. We have already communicated this to the public through the Government Gazette,” said Tutuba.
The new banknotes will circulate alongside existing notes from the 2010 series and maintain identical security features, size, color, and design elements, with only the signatures being updated.
Previously, the 2010-series notes featured the signatures of the former Minister of Finance and now Vice President of Tanzania, Dr Philip Mpango, and the former BoT Governor, Professor Florens Luoga. The updated notes now bear the signatures of the current leadership.
Finance Minister Nchemba has approved the circulation of the new notes and praised President Samia Suluhu Hassan for supporting the initiative, while commending the BoT's professional handling of the printing process.
Meanwhile, The Dar es Salaam Stock Exchange (DSE) has signed a Memorandum of Understanding (MoU) with the Tanzania Institute of Bankers (TIOB) to promote capital market literacy and foster greater public participation in financial markets.
The agreement aims to boost the financial inclusion by setting several key objectives include harnessing technology to boost participation in capital markets and incorporating stock market-related content into TIOB’s training programmes.
Through this, individuals are empowered to make informed decisions about their finances, reducing vulnerability to economic shocks and predatory practices.
The DSE Chief Executive Officer Mr Peter Nalitolela said that the partnership aims to empower individuals with the knowledge and tools needed to navigate the financial landscape effectively.
“This marks a significant step toward addressing critical issues in the financial sector, with a strong focus on improving financial literacy and fostering greater public engagement in capital markets,” said Mr Peter Nalitolela during the signing ceremony.
Tanzania’s capital markets have experienced notable growth and development in recent years.