A stable place to invest in gold
A rated economy with constitutional continuity, sound macroeconomic indicators, open regional markets and new national infrastructure.
Gold is Tanzania’s largest export
Tanzania is described as Africa’s fourth-largest gold producer, with record production of about 60 tonnes in 2024, up from about 55 tonnes in 2023 (Daily News, February 2025, citing CEIC data). Gold export earnings rose 37.4% to USD 4.7 billion in 2025 (Bank of Tanzania, Monthly Economic Review, January 2026). Mining and quarrying contributed 10.1% of GDP in 2024, up from 9.1% in 2023 (Ministry of Finance, Economic Survey 2024; NBS).
Large producers include North Mara and Bulyanhulu, operated through Twiga Minerals, and Geita Gold Mine. In the south-west, Shanta Gold’s New Luika mine operates in the Lupa Goldfield, the same goldfield as our Chunya interests.
How the government promotes gold
- Mining Vision 2030. The Ministry of Minerals aims to raise high-resolution airborne geophysical survey coverage by the Geological Survey of Tanzania from 16% of the country to at least 50% by 2030.
- Bank of Tanzania Domestic Gold Purchase Programme. Since 1 October 2024 the Bank buys gold at world-market prices, paying within 24 hours of a fire-assay report from an approved refinery. Sellers pay 4% royalty instead of 6% and no 1% inspection fee.
- Domestic refining at Mwanza Precious Metals Refinery, Geita Gold Refinery and Eyes of Africa in Dodoma.
- Formal mineral markets: 43 mineral markets and 109 buying centres (Ministry of Minerals, 2025).
- In-country processing. Since March 2017 Tanzania has restricted the export of metallic mineral ores and concentrates, including gold.
Ratings, stability and infrastructure
Moody’s B1, stable (20 Feb 2026); Fitch B+, outlook positive (21 Aug 2026).
Real GDP growth in 2025 (IMF, July 2026).
Headline inflation, August 2026, within the Bank of Tanzania’s 3–5% target.
Import cover of official reserves of USD 5.89 bn, August 2026 (BoT).
Constitutional continuity
Tanzania has had constitutional transfers of power since independence in 1961. In March 2021 Vice-President Samia Suluhu Hassan was sworn in as President under the Constitution.
Regional markets
Member of the East African Community and SADC; State Party to the African Continental Free Trade Area since January 2022; AGOA beneficiary for 2026.
New infrastructure
All nine turbines of the 2,115 MW Julius Nyerere Hydropower Project in operation from April 2025; electric Standard Gauge Railway between Dar es Salaam and Dodoma inaugurated on 1 August 2024.
Ratings and macroeconomic figures are third-party assessments at the dates shown and are not a guarantee of safety or of returns. Sector figures are national statistics or official statements for the year shown; they describe the sector and are not projections for the Company.
Our advice to investors
- Invest through a Tanzanian company registered with TISEZA to secure the incentives and protections of the investment law.
- Use formal channels. Work only with licences and approvals issued by the Mining Commission, register technical-support agreements, and sell gold through mineral markets, licensed refineries or the Bank of Tanzania.
- Insist on due diligence. Check every licence on the Mining Commission cadastre for holder, boundaries and validity, and rely on grades only when verified by an independent Competent Person.
- Manage country risk. Consider political-risk cover through MIGA and take local legal and tax advice.
- Partner with an experienced local operator. Afriglobal brings documented licence interests, a site team in place and agreements authorised, or being registered, with the Mining Commission.
We welcome you to visit our site in Chunya
Investors, lenders and their technical advisers are invited to inspect the Kitete shafts, the ore stockpiles and the Umoja vat-leach facility, and to meet our team. We will arrange site access and logistics at a mutually convenient date.