Finance and Planning Minister Mr Mustafa Mkullo congratulates the Governor of the Bank of Tanzania, Prof. Benno Ndullu for being named best Central Bank Governor in Africa during the award presentation ceremoy of best world Governors and Finance Ministers in 2009 in Istanbul, Turkey, over the weekend. The award was presented by
Other honorees included:
*Jacek Rostowsk, Minister of Finance, Poland
*Durmus Yilmaz, Governor, Turkey
*Xie Xuren, Minister of Finance China
Prof. Benno Ndullu is all smiles after receiving a bouquet of flowers and congraturatoy card as Mr Mustafa Mkullo with Zanzibar's Minister of State (finance and economic affairs) Dr. Mwinyihaji Makame (right) and BOT's Public Relations Officer Ms Vicky Msina (second right) share the moment.
Finance and Planning Minister Mr Mustafa Mkullo (left) and the Governor of the Bank of Tanzania, Prof. Benno Ndullu, show off the award tha latter received in Istanbul

By Victoria Msina, Istanbul, Turkey

BANK of Tanzania Governor Prof. Benno Ndulu has won this year’s award of the Central Bank Governor of the Year for Africa by the Emerging Markets daily newspaper.

Once a year, the London-based Emerging Markets, which is the newspaper of record for the World Bank, International Monetary Fund (IMF) and African Development Bank meetings for the past 18 years, recognizes the achievements of the leadingpolicymakers in emerging markets.

The presentation ceremony took place on Sunday,October 4, 2009, duirng the 2009 World Bank/IMF Annual Meetings at Binbidirek Cistern in Istanbul, Turkey.

Governor Ndulu’s award is based on professional polling conducted by the newspaper.The nominations for the awards are made by investors, central bank governors in Africa and Europe, economists, analysts and other experts.

Prof. Ndullu won the award for his impeccable performance since he assumed the leadership of the central bank in January 2008, having led to stabilisation of the market – both in terms of the foreign exchange market, and financial markets broadly.

Until late 2007, treasury bills rates and other interests were moving up and down. But the situation is much smoother now and interest rates have moved downward.

Under Prof. Ndulu’s leadership,BoT no longer sells too much by way of treasury bills in favour of other instruments.

On the foreign exchange market, in July 2007, one needed TZS 1,300 to get one US dollar, and the exchange rate is almost the same at TZS 1,310 to TZS 1,320, whichmakes the exchange rate stable.

Presently, the market plays its role properly, putting an end to always seeing the shilling depreciating by not less than 10 to 15per cent annually. Foreign exchange reserves have increased to unprecedented levels.

In 2007, foreign reserves were US $2.4bn, but have now reached $3.6bn. The management of money supply has been much improved, with inflation, excluding food, being at 2 per cent.

Governor Ndulu’s performance got the nod from the and he has also been recognized by the way he handled crises that happened,including the global financial crisis as well as the external payment arrears (EPA)account scandal at BoT.

Commenting on his nomination, Prof. Ndulu said: “This award is based on operational benchmarks of BoT and I am honoured to be recognized. This is an award for the Bankof Tanzania.”

The Editor of Emerging Markets, Mr. Taimur Ahmad, said: “The award unequivocally signals the confidence you (Prof. Ndulu) have inspired in your key stakeholders. Many congratulations.

”Previous winners of the Central Bank Governor of the Year for Africa include formerGovernor of the Central Bank of Nigeria, Prof. Charles Soludo and the Governor of the Zambia Reserve Bank, Dr Caleb Fundanga. The latter was honoured for stabilizingthe markets in Zambia.

In addition to the award, Prof. Ndulu was interviewed to the Emerging Markets newspaper. Recent interviewees by the newspaper include President Lula Da Silva of Brazil,Prime Minister Manmohan Singh of India and Prime Minister Tayyip Erdogan of Turkey.

It also regularly interviews key public figures including former US Federal Reserve Chairman Alan Greenspan, China’s Central Bank Governor Zhou Xiaochuan and US National Economic Council Chairman Lawrence Summers.




Michuzi Blog

Tanzanian blog operating since 2005, covering International news and Local News, including Politics, Fashion, Social Scenes, Interviews, Movies, Events, personalities and anything positive happening worldwide. Written in Swahili and English targeting both Swahili and English readers.

Toa Maoni Yako:

Kuna Maoni 6 mpaka sasa

  1. hongera sana ,Prof Ndulu.tanzania tunakuhitaji sana.hongera.

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  2. Hawa ndio wasomi tunaowataka sio wasomi wa hadhi yake wanakimbilia siasa tu!Pro. Ndulu ni miongoni wa wasomi wachache wa Tanzania walioandika makala ambazo zinapatikana na kuheshimika katika taasisi kubwa za Elimu ulimwenguni!

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  3. Kaka MICHUZI huyo MUSTAPHA MKULO si alishawahi kuwa Mkurugenzi wa NPF miaka ya nyuma kwa sasa inaitwa NSSF na sasa ni waziri wa fedha du mi sina habari??? Tanzania kweli noma watu wanabebana sana kha?!!!

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  4. As Tanzanians, we are expecting a lot from Prof. Ndulu, Please help Tanzanian Economy to grow and seen by a common citizen

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  5. Hapa wamechemsha, "On the foreign exchange market, in July 2007, one needed TZS 1,300 to get one US dollar, and the exchange rate is almost the same at TZS 1,310 to TZS 1,320, whichmakes the exchange rate stable."
    Hii sio achievement ya Ndullu.
    Huwezi kutumia kigezo cha sarafu ya Shilingi kutobadilika thamani yake kama mojawapo ya mafanikio aliyoleta. Ukweli ni kwamba sarafu ya Dola ya Marekani imeporomoka, tena sana. Mwaka 2007 USD 1 ilikuwa sana na JPY 120 (sarafu ya Japani). Leo USD 1 ni sawa na JPY 88. Kwahiyo sarafu ya Japani imeimarika na ya Marekani imeporomoka.
    Kama kweli Ndullu angekuwa ameimarisha foreign exchange market, TShs ilipaswa kuwa imeimarika na japo kuwa USD 1 sawa na TShs 1,000. Hapo kweli tungemsifu.
    Ndullu kaza buti, ondoa mafisadi wote hapo BoT.

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  6. Kumsifia Ndullu inatakiwa kuwa angalau 1USD sawa na TSH 100.
    Otherwise hamna lolote

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