Dar es Salaam. Tanzania’s central bank has accumulated 27.5 tonnes of gold worth nearly 10 trillion Tanzanian shillings under its Domestic Gold Purchase Programme, Governor Emmanuel Tutuba announced during the Bank of Tanzania’s 60th anniversary celebrations on Friday.
The event, held on June 12, 2026 at the Bank of Tanzania headquarters in Dar es Salaam, was attended by President Samia Suluhu Hassan alongside senior government and financial sector officials.
Speaking at the ceremony, Tutuba said the programme has become a key pillar in strengthening Tanzania’s foreign exchange reserves and safeguarding financial stability.
“Through this programme, which allows the central bank to purchase gold using Tanzanian shillings, the Bank of Tanzania has continued buying locally produced gold to increase foreign exchange reserves, improve reserve diversification and ensure that the country’s natural resources contribute directly to domestic financial stability,” he said.
According to the governor, the central bank had accumulated the 27.5 tonnes of gold by June 10, 2026.
Tanzania’s efforts to build gold reserves mark a revival of a strategy that dates back several decades. The Bank of Tanzania first established a gold reserve in 1990, although the practice was discontinued in 2002.
Momentum to restore the reserves resurfaced in June 2021, when President Samia signalled the government’s renewed commitment to the sector by launching a gold refinery in Mwanza Region.
The formal process of rebuilding the reserves began in April 2023, when the central bank announced it had acquired 400 kilogrammes of gold. The initiative later expanded, and in October 2024 the Bank of Tanzania officially launched structured domestic purchases by issuing benchmark buying prices for local gold traders and producers.
The Domestic Gold Purchase Programme is part of broader efforts by Tanzania to strengthen its economic resilience, reduce vulnerability to external shocks and make greater use of the country’s mineral wealth in supporting national financial security.
Tanzania is one of Africa’s leading gold producers, and officials say integrating locally mined gold into national reserves could help stabilize the economy while creating stronger links between the mining sector and the country’s monetary system.
