• Egypt’s central bank and Afreximbank signed an MoU to create a pan-African gold bank.
• The partners will conduct a feasibility study covering technical, regulatory, and commercial conditions.
• The project aims to retain more value from Africa’s gold by reducing reliance on foreign refining and trading hubs.

The Central Bank of Egypt and the African Export-Import Bank signed a memorandum of understanding to launch a project for a pan-African gold bank.

The initiative aims to structure Africa’s gold sector, strengthen central bank gold reserves, and reduce the continent’s dependence on foreign refining and trading circuits.

The Central Bank of Egypt and Afreximbank signed the agreement on Tuesday, December 30, 2025, in Cairo.

The memorandum establishes the foundations for a new model of African gold management. The agreement provides for a feasibility study to assess the technical, regulatory, and commercial conditions required to establish a gold banking ecosystem.

The project targets several objectives. First, the initiative seeks to structure the gold value chain across Africa. Second, the project aims to strengthen African central banks’ gold reserves. Third, the initiative seeks to reduce dependence on refineries and markets located outside Africa.

Currently, exporters ship a large share of African gold in raw form, refineries process it outside the continent, and traders sell it on foreign platforms. This structure limits revenues and reduces countries’ control over their resources.

The project aims to better organize Africa’s gold value chain, from extraction to trading. The partners could locate the future bank in Egypt.

Egypt aims to position itself as a regional hub for African gold trading and management.

The proposed bank would include an internationally accredited gold refinery, secure storage facilities, and gold-related financial services such as financing, custody, and trading.

A continental ambition led by Afreximbank

Afreximbank plans to extend the initiative across the continent. The African export-import bank aims to involve African governments, central banks, mining companies, and gold trading stakeholders.

The initiative seeks to harmonize practices, facilitate sustainable gold trade in Africa, and retain more value on the continent. According to Afreximbank, gold could become a tool to support financial stability, reserve management, and development financing in Africa.

Over the medium term, a pan-African gold bank could support trade finance, hedging operations, and local currency stability.

This article was initially published in French by Chamberline Moko

Adapted in English by Ange Jason Quenum