Tanzania Stockpiles $3.68 Billion in Gold to Strengthen Reserves & Shilling: Media
21:54 08.07.2026 (Updated: 22:04 08.07.2026)
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Tanzania Stockpiles $3.68 Billion in Gold to Strengthen Reserves & Shilling: Media
Tanzania's central bank has purchased approximately 28 tonnes of gold over the past 18 months, Governor Emmanuel Tutuba reportedly said.
The Bank of Tanzania has been purchasing gold for its reserves since 2023, and in September 2024 the mining regulator mandated that exporters allocate at least 20% of gold to the central bank.
Impact so far: The program has led to
◾4,000+ new accounts opened by mineral traders and small-scale miners;
◾Tanzania is among Africa's top 10 gold producers;
◾Total reserves: ~$6 billion (4.3 months of imports).
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