Stakeholders in Africa’s finance and extractive sectors have called for stronger value addition and deeper integration of gold into the continent’s financial systems to boost economic resilience and create long-term wealth.
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 insulating African economies from global shocks.
Delivering a keynote address titled ‘The Bridge Between Trust, Value and Financial Sovereignty for Africa’, Amray said the recent rally that pushed gold beyond the $4,300 mark for the first time signals a global shift in “trust, capital and power.”
“For years, gold was seen as a metal of beauty,” he noted. “Today, it stands as a model of strategy—politically neutral, instantly liquid, and a firewall against inflation and currency depreciation.”
Amray highlighted Africa’s paradox: despite producing over 40 per cent of the world’s gold, the continent captures less than two per cent of its financial value due to limited refining and processing capacity. “We export raw and import finished wealth,” he lamented, urging governments and investors to prioritise domestic refining and regional market integration.
He praised the efforts of Kian Smith Gold Refinery for its role in strengthening local value capture and industrial development, describing such initiatives as essential for achieving “financial sovereignty for Africa.”
Following his address, Amray joined a panel discussion with the Founder and CEO of Chapel Hill Denham, Bolaji Balogun. The session, moderated by Senior Director at the African Development Bank, Bode Oyetunde, examined the structures needed to integrate gold more effectively into Nigeria’s financial ecosystem.
Discussions underscored the importance of coherent policy frameworks, adequate infrastructure, and increased private sector participation to ensure African countries benefit more equitably from their mineral wealth.
The Gold Roadshow Africa concluded with a unified pledge by participants to align national policies, attract sustainable investment, and scale up local gold processing as part of broader efforts to strengthen the continent’s gold value chain.
