[PRESSWIRE] Dar Es Salaam, Tanzania – 2 February 2026 — Tanzania—s central bank plans to sell part of its national gold reserves as part of routine balance-sheet management, dismissing reports that the move is intended to finance government development projects.

The Bank of Tanzania (BoT) said on Friday that the planned sale is aimed at managing liquidity and risk exposure after gold holdings exceeded board-approved targets, amid speculation that proceeds would be used to fund infrastructure such as roads.

—The decision is purely about reserve management and liquidity. It has nothing to do with financing government projects,— said Emmanuel Akaro, BoT—s director of financial markets, speaking to reporters in Dar es Salaam.

Social media and local media reports had claimed the government planned to sell gold worth about $1.3 billion to support development spending. Akaro described those claims as misleading.

BoT has accumulated gold faster than anticipated, collecting bullion worth $3.24 billion, well above its annual target of $2.0 billion, he said. As a result, excess holdings estimated at around $1.2 billion will be sold to bring reserves back within policy limits.

—We have exceeded the level we initially targeted. When and how we sell will depend on market conditions, especially global gold prices,— Akaro said, adding that the programme would be carried out gradually and in a structured manner.

Despite the planned sale, the central bank said it would continue buying gold from domestic producers, part of a policy launched in 2023 to diversify foreign exchange reserves while supporting the local mining sector.

Proceeds from the sale will be invested in international financial markets to optimise returns, rather than transferred to the government for spending, Akaro said.

He also underscored the legal independence of the central bank, noting that any use of its investments to fund government projects would require explicit parliamentary approval.

As of Jan. 29, 2026, Tanzania—s foreign exchange reserves stood at about $6.52 billion. Gold accounted for roughly $1.2 billion of that total, with U.S. dollar holdings at about $3.8 billion and reserves denominated in China—s yuan valued at around $735 million, BoT data showed.

Akaro said the reserve mix provides resilience against external shocks while allowing the bank to take advantage of investment opportunities in global markets.

The planned sale comes as global gold prices hover near record highs, a trend that has prompted several emerging-market central banks to actively manage bullion holdings as part of broader reserve diversification strategies.

BoT said the transaction should be seen as routine reserve management, not a change in Tanzania—s approach to development financing.

———— Tanzania—s central bank, theBank of Tanzania (BoT), plans to sell part of its gold reserves as part ofnormal balance-sheet, liquidity, and risk management, not to finance government development projects.

———— BoT has dismissed media and social media reports claiming the sale—estimated at around$1.3 billion—is intended to fund infrastructure such as roads, describing such claims asmisleading.

———— Gold holdings haveexceeded board-approved targetsfollowing rapid accumulation under a reserve diversification programme launched in2023.

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