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The Bank of Tanzania (BoT) is actively shaping local economic growth in Mwanza and Geita through strategic interventions in infrastructure and the gold sector, a recent tour by its Board of Directors revealed.
Led by Governor Emmanuel Tutuba, the Board visited the two regions on November 26, 2025, to assess progress on projects that are transforming trade, transport, and mining activities.
In Mwanza, Regional Commissioner Said Mtanda highlighted ongoing work on the Standard Gauge Railway (SGR) and the new passenger and cargo terminal at Mwanza Airport.
“These projects are vital for boosting the region’s economic contribution and creating new business opportunities for local communities,” he said.
Mr. Mtanda added that the J.P. Magufuli Bridge and the rise in large vessel traffic on Lake Victoria have already accelerated trade with neighboring Uganda, opening fresh markets for regional businesses.
In Geita, Acting Regional Commissioner Hashim Komba praised BoT for implementing the national gold purchase program, which has increased transparency and opportunities for small- and medium-scale miners.
“Through these initiatives, local miners are accessing fairer prices for their gold, and the sector is becoming a stronger driver of regional development,” he said.
Governor Tutuba explained that the Bank has purchased 15.37 tons of gold to boost foreign reserves and strengthen the Tanzanian shilling, while also supporting local miners.
He emphasized that BoT remains committed to professional management of the economy, including controlling inflation to safeguard national prosperity.
During the tour, the Board visited key facilities, including the Mwanza Precious Metals Refinery and Geita Gold Refinery, observing firsthand the impact of modern gold processing technologies on efficiency and trade.
They also toured mineral markets, noting the growing participation of local traders and small-scale miners.
The visits underscored how BoT’s programs are not just about macroeconomic stability but also about empowering communities, creating jobs, and improving livelihoods through strategic investments in infrastructure and the gold sector.