African Mining Week 2026 serves as a critical convergence point – linking capital, policy and projects – to accelerate Africa’s journey from resource potential to industrial growth.
CAPE TOWN, South Africa, May 27, 2026/ – African central banks are expanding gold purchasing programs and reserve diversification strategies as part of a broader shift toward domestic resource-backed monetary frameworks. Combined foreign exchange reserves rose from approximately $480 billion in 2024 to $530 billion in 2025, while gold now represents around 17% of total reserves.
These developments will form a key focus of the Central Bank Governors, Finance and Investor Roundtable at African Mining Week (AMW) 2026, taking place in Cape Town from October 14–16. The roundtable will bring together central bank governors, mining companies, project developers and institutional investors to discuss liquidity provision, reserve-backed financing models and mechanisms to strengthen investment flows into mining.
Uganda’s central bank has moved to directly purchase gold from local miners and refiners through a Domestic Gold Purchase Program launched in April 2026. By mid-year, the initiative is expected to have acquired around 100kg of gold, injecting roughly $160 million in liquidity into the domestic gold value chain and strengthening formal market channels.
Meanwhile, efforts to formalize and expand gold processing capacity are also advancing in the Democratic Republic of Congo (DRC), where the central bank is working alongside DRC Gold Trading and DRC Gold Refinery. The focus is on improving traceability across supply chains, increasing the share of production routed through official systems, and strengthening domestic refining infrastructure to retain more value locally.
A broader trend is emerging in Nigeria and Tanzania, where central banks are implementing gold accumulation and reserve diversification strategies to reduce reliance on foreign currency holdings. These programs are also introducing structured off-take arrangements that provide more predictable demand for domestic producers while improving liquidity conditions in local gold markets.
Parallel plans in Egypt involve cooperation between the Central Bank of Egypt and the African Export-Import Bank to establish a pan-African gold bank. The proposed institution is intended to support producers with financing, improve liquidity across the gold sector and reinforce regional value chains spanning mining, refining and cross-border trade.
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