Diversifying economies reduces dependence: Tanzania bank chief

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Children passing in a street in Tanzania. UN Photo/Evan Schneider

Youth and rural populations in Tanzania are looking to increase their access to financial services, according to Bank of Tanzania Governor Benno Ndulu.

Mr Ndulu said "financial inclusion" was a high priority for the East African country, and diversifying the economy at all levels of society will reduce dependence overall.

In his capacity as chair of the international Alliance for Financial Inclusion, he said Tanzania had seen tremendous progress since the increasing its adoption of digital technology.

In sub-Saharan Africa, where only a third of adults have access to bank accounts, Tanzania's economic growth is at a standstill and needs reform.

Mr. Ndulu explained to Bruce Edwards his strategy for increasing access to financial services.

Duration: 4'08"

Filed under Today's Features.
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