Prime Minister Mwigulu Nchemba has dismissed online rumours claiming that gold belonging to the Bank of Tanzania was secretly sold in a Middle Eastern country through the involvement of a private individual.Speaking on June 18, 2026, he stated that the allegations are false and do not reflect how the country's gold reserves are managed.According to the Prime Minister, the gold held by the Central Bank serves as part of Tanzania’s monetary and financial policy framework.He explained that any transaction involving such reserves is subject to formal procedures and international oversight.

He noted that institutions such as the International Monetary Fund (IMF) and the World Bank are aware of and monitor matters related to national reserve assets, making it impossible for a private person to independently sell central bank gold without detection.Nchemba criticized the circulating claims, arguing that they were intended to create confusion, hatred, and unnecessary conflict within the country.He rejected suggestions that someone could simply transport and sell national gold reserves outside official government and institutional channels.

The statement came in response to widespread social media discussions alleging that a non-government individual had led the sale of Tanzania’s gold in a Middle Eastern nation.The Prime Minister emphasized that such claims lack factual basis.The article also highlights the growth of Tanzania’s gold reserves.Since the Bank of Tanzania began purchasing gold in October 2023, the institution has accumulated approximately 27.5 tonnes of gold by June 2026.The government presents this accumulation as part of broader efforts to strengthen the country's financial reserves and monetary stability.