DAR ES SALAAM, Aug. 5 -- 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 October 2023.

BoT Governor Emmanuel Tutuba announced the milestone yesterday in a special interview with the Tanzania Broadcasting Corporation (TBC) to mark the central banks 60th anniversary.

At current international prices, the governor estimated the countrys gold holdings at approximately 10.5tri/-, making the precious metal an increasingly important component of Tanzanias reserve portfolio.

Mr Tutuba said about 11 tonnes of the gold acquired have already been deposited with the Bank of England as part of the ...