MWE Correspondent
Tanzania’s gold industry has reclaimed its position as the country’s top export earner, surpassing $4 billion for the first time in years. The surge is fueled by record-high global prices and rising investor demand for safe-haven assets.
According to the Bank of Tanzania’s September 2025 Monthly Economic Review, gold exports rose 35.5 percent, reaching $4.32 billion in the year ending August 2025, up from $3.19 billion during the same period last year. The central bank attributed the strong performance to international gold prices climbing to $3,368 per troy ounce in August, marking one of the highest levels in recent history.
The growth in gold earnings has now outpaced tourism revenue, which stood at $3.84 billion despite a rebound in international arrivals, highlighting the shifting dynamics of Tanzania’s economy.
While the gold windfall is a boon for national revenue, experts caution that not all earnings stay within Tanzania. Much of the profit is repatriated by foreign-owned mining firms after covering taxes and operational costs.
Dr. Gorah Abdallah of the Tanzania Institute of Accountancy explained, “The high cost of extraction and the predominance of foreign investors mean the country retains only a fraction of the total export value. Building local capacity is essential so Tanzanians can take a leading role in mining and exports, securing more value from these resources.”
Also Reads; Barrick Mining Reaches 13-Year High After Nevada Gold Find
The spike in gold revenues has reignited debates about transparency and equitable sharing of wealth. Professor Haruni Mapesa of Mzumbe University urged that higher gold prices should benefit the nation and not just multinational firms, recommending a review of contracts and stronger tax enforcement.
“The focus should be on ensuring that the country captures a fair share of profits while promoting sustainable investment,” Prof. Mapesa noted.
As Tanzania continues to benefit from rising gold exports, the government faces the challenge of maximizing domestic retention of mining revenue. Policies promoting local participation, enhanced transparency, and effective taxation will be vital for sustainable economic development.
By harnessing its gold resources strategically, Tanzania has the potential to strengthen its economy, reduce reliance on foreign earnings, and ensure long-term benefits for its citizens.
