DAR ES SALAAM, Oct. 16 -- THE Bank of Tanzania (BoT) has highlighted the importance of gold purchases in strengthening the countrys foreign exchange reserves and supporting the national economy.

BoT Mwanza Branch Director, Upendo Mwakatumbula said the acquisition of gold was among measures being undertaken by the central bank to reinforce the countrys economic position.

Speaking during a one-day forum for media stakeholders, editors and journalists organised by the Media Institute of Southern Africa Tanzania Chapter (MISA-TAN) in Mwanza, Ms Mwakatumbula said gold purchases were aimed at strengthening the countrys foreign exchange reserves.

She disclosed that the central bank had purchased 35 tonnes of gold since October 2024, highlight...