Stakeholders in Africa’s finance and extractive sectors are calling for increased value addition and integration of gold into continental financial systems to boost economic resilience and create wealth. Speaking at the 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 protecting African economies from global financial shocks. In his keynote, Amray noted that the recent rally of gold above the $4,300 mark signals a global shift in “trust, capital and power.”
He lamented that Africa, despite producing over 40 per cent of the world’s gold, only captures less than two per cent of its financial value due to limited local processing. “We export raw and import finished wealth,” he stated, urging governments and investors to prioritise domestic refining and market integration
Amray specifically commended the work of Kian Smith Gold Refinery for its contributions to boosting local value capture and industrial growth, identifying such initiatives as crucial steps toward achieving “financial sovereignty for Africa.” Following his address, Amray participated in a panel discussion alongside Bolaji Balogun (Founder and CEO of Chapel Hill Denham). The discussion, moderated by African Development Bank Senior Director Bode Oyetunde, focused on developing the necessary frameworks to successfully integrate gold into Nigeria’s financial ecosystem.
The session concluded by stressing the critical need for coherent policies, supportive infrastructure, and increased private sector participation to ensure the African continent benefits more equitably from its mineral resources.
The Gold Roadshow Africa concluded with a collective commitment from participants to align national policies, attract long-term investments, and deepen the local processing of gold to achieve inclusive and sustainable growth across Africa’s gold value chain.
