29 Tonnes of Gold Purchased by Bank of Tanzania in 20 Months
Habari mpya za fedha Tanzania · maelezo ya 29 Tonnes of Gold Purchased by Bank of Tanzania in 20 M… · masasisho 2023 · imesasishwa 5 Aug 2026 · habari za uchumi · pato la taifa · uwekezaji
Muhtasari
- DAR ES SALAAM: THE Bank of Tanzania (BoT) has purchased 29 tonnes of gold under its domestic gold-buying programme, surpassing its three-year target of 20 tonnes in just 20 months since the initiative was launched in.
- We officially began purchasing gold on October 1, 2023, after making the necessary legal amendments.
- BoT Governor Emmanuel Tutuba announced the milestone yesterday in a special interview with the Tanzania Broadcasting Corporation (TBC) to mark the central bank’s 60th anniversary.
- Mr Tutuba said about 11 tonnes of the gold acquired have already been deposited with the Bank of England as part of the country’s official international reserves, while the remaining stock is being managed strategically.
- He added that BoT has set an internal ceiling of 30 per cent for gold within its reserve portfolio, with current holdings accounting for about 27 per cent, leaving room for further purchases and strategic sales.