Dar es Salaam. The Bank of Tanzania (BoT) has pledged to strengthen cooperation with the National Bank of Rwanda (NBR) through knowledge and experience-sharing in various areas aimed at advancing the financial sector and broader economic growth in both countries.
BoT Governor, Emmanuel Tutuba, made the remarks this week when he hosted Rwanda’s Ambassador to Tanzania, Gen Patrick Nyamvumba, at the central bank offices in Dar es Salaam.
During the meeting, Gen Nyamvumba commended the BoT for its innovations, particularly in modernising payment systems that have simplified business transactions and enhanced financial inclusion in Tanzania.
He also praised the central bank’s gold purchase programme, which he described as a strategic initiative for strengthening foreign exchange reserves.
He said the National Bank of Rwanda is keen to learn from Tanzania’s experience in managing national payment systems and in implementing the gold reserve programme.
In response, Mr Tutuba highlighted BoT’s achievements in developing its own real-time electronic payment platform, the Tanzania Instant Payment System (TIPS), which he said has transformed the ease and affordability of digital transactions across the country.
He added that the growing trade and investment relations between Tanzania and Rwanda provide fresh impetus to continuously upgrade cross-border payment systems, making transactions faster, cheaper, and more secure.
On the gold purchase programme, Mr Tutuba revealed that since its launch on October 1, 2024, the central bank had bought a total of 9.165 tonnes of gold by the end of August 2025, valued at approximately $1.015 billion.
He said the initiative has not only boosted the country’s foreign reserves but also contributed to macroeconomic stability.
The meeting underscored the role of central bank cooperation in fostering regional integration, enhancing financial sector resilience, and supporting long-term economic growth.
