Afreximbank and the Central Bank of Egypt have taken a historic step by signing an agreement to create the first pan-African gold bank . This strategic project aims to fundamentally transform the way Africa mines, processes, and trades one of its most precious minerals.

Based in a free zone in Egypt , the future bank will integrate a complete ecosystem including an accredited gold refinery , highly secure storage facilities, and specialized financial services . The goal is to control the entire value chain, from extraction to marketing, while retaining more added value on the continent.

This initiative primarily aims to reduce Africa's dependence on foreign refining and trading platforms , which have long been dominated by markets outside the continent. It will also strengthen the gold reserves of African central banks , thereby contributing to greater monetary stability and increased financial sovereignty .

Supported by African states, central banks, financial institutions, and private actors , the project is fully aligned with the African Continental Free Trade Area (AfCFTA) . It aims to promote a more transparent, structured, and sustainable gold trade , in accordance with international standards.

At this stage, the agreement marks the official launch of technical, financial, and regulatory feasibility studies . If successful, this project could reposition Africa as a key player in the global gold market , no longer just as a producer of raw materials, but as a true strategic financial and industrial hub.