Stakeholders across Africa’s financial and extractive industries are intensifying their push for increased value addition in the gold sector and stronger integration of the precious metal into national financial systems. They argue that such reforms are vital for boosting economic resilience, strengthening local industries, and unlocking sustainable wealth creation for the continent.
These concerns were raised at the Gold Roadshow Africa, where speakers highlighted the widening gap between Africa’s massive gold output and its limited share of global earnings from the commodity. Executive Director of Tropical General Investments Group, Mudassir Amray, described gold as more than a resource, calling it “a metal of strategy” and “an inflation firewall” capable of insulating African economies from global financial volatility.
In his keynote address titled ‘The Bridge Between Trust, Value and Financial Sovereignty for Africa’, Amray noted that gold’s historic rise surpassing $4,300 for the first time signals a major global shift in the distribution of trust, power, and capital. According to him, this evolving landscape demands that African nations rethink their approach to resource management and wealth retention.
Amray lamented that although Africa produces over 40% of the world’s gold, it retains less than 2% of the financial value, largely because much of its gold is exported in raw form. “We export raw and import finished wealth,” he said, urging African governments to prioritise domestic refining, processing, and market integration to maximise value capture.
He praised Kian Smith Gold Refinery for its role in improving local refining capacity and promoting industrial development. Such initiatives, he said, are essential if Africa hopes to achieve true financial sovereignty and reduce its dependency on global markets for refined gold products.
Following his keynote, Amray joined a panel discussion with Bolaji Balogun, CEO of Chapel Hill Denham, moderated by Bode Oyetunde, Senior Director at the African Development Bank. Their conversation focused on the policy frameworks and institutional reforms required to embed gold into Nigeria’s financial ecosystem and, by extension, within African financial markets.
The panel emphasised the need for clear and consistent regulations, improved infrastructure for gold processing and trading, and enhanced private sector involvement. Stakeholders noted that strengthening these areas would allow African countries to retain a greater share of the value generated from their mineral resources, while also fostering job creation and industrial expansion.
The Gold Roadshow Africa wrapped up with a collective commitment from participants to harmonise national policies, attract long-term investment, and deepen local gold processing. Stakeholders agreed that aligning Africa’s gold industry with its economic and financial objectives is crucial for building a more inclusive, sustainable, and competitive gold value chain across the continent.
