Stakeholders in the African finance and extractive sectors have called for greater value addition and integration of gold into financial systems across the continent to enhance economic resilience and wealth creation.
Speaking at the recently held Gold Roadshow Africa, Executive Director of Tropical General Investments Group, Mudassir Amray, described gold as “a metal of strategy” and “an inflation firewall” capable of shielding African economies from global financial shocks.
Amray, in his keynote address titled ‘The Bridge Between Trust, Value and Financial Sovereignty for Africa’, said the recent rally that saw gold cross the $4,300 mark for the first time underscored a global shift in “trust, capital and power”.
“For years, gold was seen as a metal of beauty,” he said. “Today, it stands as a model of strategy, politically neutral, instantly liquid, and a firewall against inflation and currency depreciation.”
He lamented that while Africa produces over 40 per cent of the world’s gold, the continent captures less than two per cent of its financial value due to limited local processing capacity.
“We export raw and import finished wealth,” Amray stated, urging governments and investors to prioritise domestic refining and market integration.
He also commended the efforts of Kian Smith Gold Refinery for its contributions toward boosting local value capture and industrial growth, describing such initiatives as crucial to achieving “financial sovereignty for Africa”.
After his address, Amray joined a panel discussion with Founder and Chief Executive Officer of Chapel Hill Denham, Bolaji Balogun, moderated by Senior Director of the African Development Bank, Bode Oyetunde, to examine the frameworks required to integrate gold into Nigeria’s financial ecosystem.
The session emphasised the need for coherent policies, supportive infrastructure, and increased private sector participation to enable the continent to benefit more equitably from its mineral resources.
The Gold Roadshow Africa ended with a collective commitment by participants to align national policies, attract long-term investments, and deepen local processing of gold to foster inclusive and sustainable growth across Africa’s gold value chain.
