The Bank of Tanzania (BoT) has won the overall award at the fourth Tanzanite Manyara Trade Fair, where its role in strengthening foreign exchange reserves and promoting public understanding of the financial system featured among the key issues highlighted at the event.
The exhibition ended on October 21, 2026, at the Tanzanite Kwaraa grounds in Babati District, Manyara Region, bringing together stakeholders from business, trade and the mining sector.
Tanzania Trade Development Authority (TanTrade) Director General Ephraim Balozi Mafuru commended the central bank for its contribution to economic management and the implementation of its mandate.
Mr Mafuru, who represented the Minister for Industry and Trade, Ms Judith Salvio Kapinga, at the closing ceremony, singled out BoT’s role in coordinating gold purchases as one of the initiatives supporting the country’s economic position.
He said the initiative had contributed to strengthening Tanzania’s foreign exchange reserves, an important buffer that helps the country meet external payment obligations and withstand economic shocks.
The central bank’s involvement in gold purchases has also placed it at the centre of efforts to ensure that the country benefits more from its mineral resources.
However, the broader economic benefits of mineral wealth depend not only on foreign exchange earnings but also on how mining activities support domestic businesses, employment and value addition.
Mr Mafuru also called for greater promotion of the “Made in Tanzania” brand, particularly among entrepreneurs in the mining sector, saying stronger recognition of locally produced goods could help expand domestic businesses and improve the visibility of Tanzanian products.
The call comes amid efforts to strengthen local enterprise and ensure that economic opportunities generated by the country’s natural resources translate into wider business activity.
For small businesses and entrepreneurs, stronger demand for locally produced goods can create opportunities to supply products and services to larger companies, including those operating in the mining industry.
Speaking on BoT’s participation in the exhibition, the bank’s Arusha Branch Operations Manager, Mr Cletus Mwakalinga, said the event provided an opportunity to engage directly with citizens and explain the institution’s responsibilities.
He said visitors were able to ask questions and receive explanations about the central bank’s role in overseeing the financial sector and contributing to stability in the country’s financial system.
Public understanding of the central bank is important because its responsibilities extend beyond managing monetary policy to include maintaining price stability, overseeing payment systems and supporting the soundness of the financial system.
BoT’s participation in the trade fair was aimed at bringing this information closer to the public while strengthening engagement with businesses and other stakeholders.
The overall award recognises the bank’s participation in the exhibition, although the details of the judging criteria and the other competing institutions were not provided in the announcement.
For Tanzania, the broader challenge remains ensuring that economic gains from sectors such as mining translate into stronger domestic businesses, wider employment opportunities and sustainable improvements in citizens’ livelihoods.