The Bank of Tanzania (BoT) has successfully purchased approximately 28 tonnes of gold, valued at $3.68 billion (Sh9.76 trillion), over the last 18 months. During the 2026 African Caucus meeting in Banjul, Gambia, BoT Governor Emmanuel Tutuba explained that this strategic accumulation aims to strengthen foreign exchange reserves, stabilize the Tanzanian shilling, and promote overall economic growth. By offering competitive market prices based on the London gold market, the central bank has incentivized small-scale miners and traders to sell directly to the BoT, with payments processed within 24 hours. This initiative has significantly enhanced financial inclusion, enabling over 4,000 small-scale miners and traders to access formal banking services. The Tanzanian delegation, led by Finance Minister Ambassador Khamis Mussa Omar, participated in the meeting to discuss critical continental economic issues and development priorities.