Africa’s Gold Reserves: Egypt, Ghana, and Zimbabwe Central Banks’ Divergent Fortunes. Cairo, Egypt — The central banks of Egypt, Ghana, and Zimbabwe have experienced varied outcomes in managing their gold reserves in 2025, reflecting the complex interplay of global economic dynamics and regional monetary strategies.
According to local reports, Egypt, Ghana, and Zimbabwe have shifted their focus towards gold reserves as a stabilizing factor for their national currencies.
This shift has been prompted by global economic shifts, including the rise in gold prices and the diminishing reliance on U. S.
Treasuries.
Ghana’s cedi, for instance, experienced significant gains alongside gold prices but faced challenges due to currency interventions. Official statements indicate that while the cedi has strengthened, the central bank’s interventions have raised concerns about sustainability.
In contrast, Zimbabwe’s central bank has been actively purchasing gold to bolster its national currency, the ZiG.
The strategy is aimed at covering three to six months of import cover, as sources close to the matter.
However, the International Monetary Fund (IMF) has warned that Zimbabwe’s reserves are limited and has urged continued monetary and exchange reforms. Egypt’s central bank has also been moving towards hosting Africa’s first Pan-African Gold Bank, according to a statement from the government.
This move is seen as a significant step towards enhancing Africa’s financial stability and diversifying its currency reserves.
The Africa Development Bank (AfDB) suggests that the improvement in Egypt, Ghana, and Zimbabwe reflects strong performance in sectors such as hydrocarbons, tourism, agriculture, and private investment.
Meanwhile, WisdomTree has highlighted the historic reversal in central bank reserve composition, which is a significant trend in global finance.
The Africa Report, however, warns about the vulnerability of Ghana’s currency gains due to currency interventions, indicating a potential risk in relying on gold as a stabilizing factor. Ecofin Agency reports that Zimbabwe plans to continue purchasing gold and other precious metals in 2026 to build its foreign exchange reserves and support the stability of its national currency. Further details are expected as the situation continues to develop.
Source: Africa.
*Additional reporting by ImNews | Sources consulted: 5*
