Tanzania’s Central Bank Highlights media role in Growth

The Bank of Tanzania (BoT) has said that the economic growth Tanzania has experienced recently has been spurred by government efforts through the BoT in implementing strong management of economic and financial policies.

Richard Wambali, Director of BoT Dodoma Branch was speaking during a week-long training seminar for economic and financial journalists held in Dodoma.

“The more the economic growth is felt, this process needs to be catalyzed to create a conducive environment for investors. This calls for a need for the dissemination of accurate, reliable and timely information of our country to run abreast with information of the continent as well as the globe,” he said.

Wambali said it is in this context that there arises a need for the information disseminated to the public to be clear, understandable and trustworthy to fulfill the needs of all stakeholders and also the information needs to be authentic.

He said such information enables stakeholders in the financial and economic sectors to make rational decisions, and it is therefore essential for media outlets to have enough space for information focused in this sector which is the driving force to economic development of the nation.

“I highly commend you, because we value, understand and distinguish the great efforts made by the media outlets to publicize information such as that in relation to exchange rates, trading at the Dar es salaam Stock Exchange (DSE), auctions of government securities namely Treasury Bills and Bonds, and other information in regard to the finance and economic sector,” he said.

Wambali said, the Central Bank, in a special way, highly rates the contribution made by print as well as electronic media by setting special columns and airtime for financial and economic sectors, especially those released by the BoT.

He said the BoT highly recognizes the importance of building the capacity in the newsrooms and that of reporters so that they may achieve the desired standards in interpreting and critically analyzing various information released by the central bank and other financial institutions.

“It is therefore essential for the training seminars organized annually, among other things to cover financial and economic news, and to inform them on the roles of the bank of Tanzania,” he said.

He added that such training seminars act as a two-way traffic because they also help the BoT officials to learn various functions of undertaken by the media outlets, their needs, and how they gather, process and disseminate information.

This post first appeared HERE

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