Africa’s vast untapped gold reserves—estimated at more than $1 trillion in undeveloped deposits—could reshape the continent’s economic future if managed strategically, according to a new Africa Finance Corporation report. With gold prices surging and global uncertainty boosting demand for safe-haven assets, policymakers see an opportunity to strengthen foreign reserves, stabilize currencies, and support industrial growth. Currently, gold accounts for only about $70 billion, or 15%, of Africa’s external reserves, leaving significant room for expansion. Ghana’s pioneering GoldBod model demonstrates the potential: After establishing a centralized licensing body in 2025 that helped formalize artisanal mining and curb smuggling, the country rebuilt its depleted reserves, pushed gross reserves above $10 billion, and saw its cedi appreciate 41%. By leveraging gold beyond simple exports, African economies could improve financial resilience and gain greater influence in a shifting global economic order.
Business Insider
