The Bank of Tanzania (BOT) has reaffirmed its commitment to working closely with the National Bank of Rwanda (NBR) to advance financial and economic cooperation between the two countries.
Speaking in Dar es Salaam on September 9, 2025, BOT Governor Emmanuel Tutuba said the two central banks would continue exchanging expertise in areas aimed at strengthening their financial systems.
He made the remarks during a meeting with Rwanda’s Ambassador to Tanzania, General Patrick Nyamvumba, who visited the central bank offices.
Ambassador Nyamvumba praised BOT for spearheading innovative reforms that have modernised Tanzania’s financial sector.
He singled out improvements in digital payment solutions, which have simplified business transactions, and the central bank’s gold purchase programme, which has boosted foreign exchange reserves. He noted that Rwanda is drawing lessons from Tanzania’s experience in both areas.
Governor Tutuba highlighted the Tanzania Instant Payment System (TIPS), developed in-house by BOT experts, as a major milestone in transforming electronic transactions. He said the platform has made payments more efficient, affordable, and reliable across the country.
“The growing trade relations between Tanzania and Rwanda provide additional motivation to enhance payment systems, so that cross-border transactions are easier and more affordable, ultimately increasing the volume of business between our two countries,” Mr Tutuba said.
On the gold purchase programme, he explained that since its official launch on October 1, 2024, BOT has acquired a total of 9.165 tonnes of gold, valued at approximately US$1.015 billion, as of August 2025.