Tanzania's mining sector has emerged as a cornerstone of East Africa's economic resurgence, driven by a historic gold mining boom.
The Golden Engine of Tanzania's Economy
Tanzania's mining sector has undergone a profound transformation, evolving from a peripheral contributor to the economy into one of the country's most strategic growth engines. By 2024, the sector achieved a historic milestone by contributing 10.1% of national GDP, surpassing the government's 2026 target two years ahead of schedule. This growth trajectory demonstrates the sector's transformation into a primary economic driver for the nation. The sustained contribution of mining—stabilizing at 9.5-10% of GDP in 2025—has played a critical role in supporting Tanzania's overall economic growth rate of about 5.8%, alongside agriculture and tourism.
Record-Breaking Production and Export Earnings
Gold production remains the cornerstone of Tanzania's mining sector, with the country ranking among Africa's top gold producers. In 2024, Tanzania saw a record production of 60,000 kg (1.93 million troy ounces), valued at approximately $4.23 billion. The mining sector has fundamentally transformed Tanzania's external trade position, emerging as the country's largest source of foreign exchange. Mineral exports, dominated by gold, accounted for roughly 50-55% of total national exports in 2025, with export earnings estimated between $4.4 and $4.7 billion. High international gold prices (averaging around $2,500 per ounce) combined with increased production at major mines helped boost foreign exchange reserves to approximately $6.6 billion, providing more than five months of import cover.
Geita Gold Mine: A Pillar of Production
Tanzania's gold production is concentrated among several major mines operated by international mining companies. Geita Gold Mine, operated by AngloGold Ashanti in the Mwanza region, is the country's largest producer, accounting for 43% of total output. In 2024, Geita produced 483,000 ounces of gold, with a mineral reserve of 3.25 million ounces. The mine employs over 7,000 people, with 98% being Tanzanian nationals, highlighting its significant contribution to local employment and economic development.
Revenue Generation and Local Empowerment
Beyond headline GDP figures, the mining sector has become a cornerstone of government revenue mobilization and fiscal stability. Mining-related taxes, royalties, and levies rose sharply from TZS 624.6 billion in 2021/22 to an estimated over TZS 1.4 trillion in 2025, representing a year-on-year increase of more than 80%. The sector's commitment to local content has resulted in one of the highest rates of indigenous workforce participation in Africa's mining industry. In 2025, the sector's workforce grew to over 350,000, with Tanzanian workers making up 97.1% of the total. Tanzanian-owned companies accounted for over 91% of total sales in the mining industry, demonstrating robust local economic participation and value retention within Tanzania.
The Future: Digital Infrastructure and Tokenization
As Tanzania's gold mining sector continues its upward trajectory, the integration of digital infrastructure and asset tokenization presents a transformative opportunity. Platforms like AfriVest are at the forefront of this evolution, digitizing Africa's assets to unlock new avenues for investment and liquidity. By tokenizing gold and other mineral assets, Tanzania can attract a broader base of institutional investors, enhance transparency, and streamline cross-border transactions. This forward-looking approach will not only solidify Tanzania's position as a regional mining powerhouse but also position it as a leader in the digital economy, driving sustainable growth and prosperity for generations to come.
