Tanzania set to launch international gold trading centre in Geita

By Hasit Patel

It has been announced that Tanzania will unveil an international gold trading centre in Geita, according to All Africa.

The country is set to join South Africa and Botswana which has a gold exchange hub and diamond bullion market respectively.

It is anticipated that the gold hub will ease mineral trading and allow businesses to pay the required levies to the government.

SEE ALSO:

With Geita producing more than 40% of the gold exported from Tanzania, it is believed that each of the five districts in the region will have one gold collection centre for small-scale miners.

The development is aligned with President John Magufuli’s latest directive in order to ensure that Tanzania leads the way in the international gold sector.

In 2017, President Magufuli requested the construction of a 24km perimeter wall to surround the tanzanite mines in Mererani, Manyara Region, in a bid to curb smuggling of the rare gemstone.

Share

Featured Articles

Meet the COO: Brook Sims of MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Best business books to improve leadership strategy

From strategic guides to inspiring CEO memoirs, these new books dish up plenty of principles, strategies, and anecdotes to help you become a better leader

Shoplazza founder and CEO Jeff Li, ex Baidu, on leadership

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

The office shifts to new way of working – workplace special

Leadership & Strategy

Trailblazer: Clorox's DEI leader Shanique Bonelli-Moore

Sustainability

The inspirational CEO story – Dean Forbes of Forterro

Leadership & Strategy