Africa Urged to Capitalize on Exploding Global Gold Opportunity

A senior executive is calling on African governments and business leaders to deepen their participation in the booming global gold market. Mudassir Amray, Executive Director of Tropical General Investments (TGI Group), made the appeal at the recent Gold Road Show, arguing that the continent must move beyond mere gold production and seize higher-value financial roles in the industry.

Describing gold as “a metal of strategy” and “a firewall against inflation,” Amray told a gathering of central bankers, policymakers, and institutional investors that the ongoing gold price surge — which recently saw the precious metal top $4,300 per ounce — marks a critical moment for Africa’s economic future.

Despite accounting for more than 40 percent of global gold output, Africa currently captures less than 2 percent of the value generated by the gold financial market. “We export raw and import finished wealth,” Amray warned, calling for urgent investments in refining, local processing, and financial instruments that would let the continent retain more of its gold-generated wealth.

He pointed to local efforts, such as the Kian Smith Gold Refinery, as promising building blocks for sustainable industrial growth.

Amray’s remarks came during a high-level panel featuring Bolaji Balogun, founder and CEO of ChapelHill Denham, moderated by Bode Oyetunde of the African Development Bank. The discussions focused on the need for coordinated policy, stronger infrastructure, and private-sector capital to fully integrate gold into Africa’s financial ecosystem.

By closing the gap between raw gold export and finished-product value addition, stakeholders say Africa can unlock inclusive, long-term economic growth across its gold value chain.