Tanzania's Central Bank Governor Emmanuel Tutuba stated that the bank has purchased approximately 28 metric tons of gold over the past 18 months. In a statement released by the country's Ministry of Finance on Wednesday, Tutuba said the purchased gold is worth $3.68 billion at current prices. This followed similar remarks made by Tutuba at the International Monetary Fund and World Bank conference in Gambia the previous day.
The Central Bank of Tanzania began purchasing gold for its reserves around 2023. In September 2024, Tanzania's mining regulator mandated that all mining companies and traders exporting gold must sell at least 20% of their gold to the central bank.
