African Finance and Mining Leaders Urge Gold Integration to Boost Economic Resilience

Stakeholders in Africa’s finance and extractive industries are advocating for greater value addition and integration of gold into the continent’s financial systems to strengthen economic resilience and drive wealth creation.

At the recent Gold Roadshow Africa, Mudassir Amray, Executive Director of Tropical General Investments Group, described gold as “a metal of strategy” and “an inflation firewall” capable of shielding African economies from global financial shocks.

In his keynote, titled ‘The Bridge Between Trust, Value and Financial Sovereignty for Africa’, Amray highlighted that the recent surge in gold prices, surpassing $4,300 per ounce, reflects a global shift in “trust, capital, and power.” He emphasized that while gold was once primarily valued for its beauty, it now serves as a strategic, politically neutral asset that offers liquidity and protection against inflation and currency depreciation.

Amray expressed concern that despite Africa producing over 40% of the world’s gold, the continent captures less than 2% of its financial value due to limited local processing. “We export raw and import finished wealth,” he said, urging governments and investors to focus on domestic refining and market integration. He also praised Kian Smith Gold Refinery for its role in enhancing local value capture and promoting industrial growth, calling such efforts vital for achieving “financial sovereignty for Africa.”

Following his address, Amray joined a panel discussion with Bolaji Balogun, Founder and CEO of Chapel Hill Denham, moderated by Bode Oyetunde, Senior Director at the African Development Bank. The discussion explored the frameworks necessary to integrate gold into Nigeria’s financial system, highlighting the need for coherent policies, supportive infrastructure, and stronger private sector involvement.

The Gold Roadshow Africa concluded with participants committing to align national policies, attract long-term investments, and expand local gold processing, aiming to foster inclusive and sustainable growth across Africa’s gold value chain.