{"id":59724,"date":"2025-07-30T20:13:45","date_gmt":"2025-07-30T20:13:45","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-central-banks-face-gold-rush-risks"},"modified":"2025-07-30T20:39:55","modified_gmt":"2025-07-30T20:39:55","slug":"african-central-banks-face-gold-rush-risks","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-central-banks-face-gold-rush-risks","title":{"rendered":"African Central Banks Face Gold Rush Risks"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Lesotho. <\/strong><\/span>Sub-Saharan African central banks that have added gold to their reserves in recent years could face price and liquidity crises if the value of the precious metal slides, BMI, a unit of Fitch Group, said on Wednesday.<\/p>\n<p>Ghana, Tanzania and Nigeria have been buying gold domestically to beef up their reserves, BMI said, a move accelerated by this year\u2019s broader market volatility stoked by U.S. trade tariffs and other geopolitical risks.<\/p>\n<p>Policymakers in Kenya and Uganda are exploring a move into gold, Rwanda and Namibia have taken active steps towards adding the metal into their reserves, while Burkina Faso has indicated it will build up its stockpile and Zimbabwe has said its new ZIG currency is backed by gold reserves, BMI said.<\/p>\n<p>\u201cGold is increasingly being used by sub-Saharan African markets as a strategic store of value,\u201d said Orson Gard, senior Sub-Saharan Africa analyst at BMI, during an investor presentation.<\/p>\n<p>The move, however, comes with various risks, he said, citing Ghana where an aggressive gold purchase programme has led to the metal accounting for a third of its reserves according to BMI calculations, driving a surge in the cedi currency and potentially making the country\u2019s exports less competitive.<\/p>\n<p>Ghana\u2019s central bank was not immediately available for comment.<\/p>\n<p>The price of gold, which touched a record high earlier this year, may have peaked, BMI said, and it faces potential downward pressure from any reduction in U.S. interest rates.<\/p>\n<p>\u201cAny sudden drop in global gold prices would have significant implications for those markets in sub-Saharan Africa which have rapidly increased gold as a share of their total reserves portfolio,\u201d Gard said.<\/p>\n<p>A gradual price decline over the medium-term could also have a negative impact for countries that started buying gold around its recent peak, he added.<\/p>\n<p>\u201cThis would not only weigh on reserve adequacy but would also undermine the perceived credibility of central bank policy,\u201d he said.<\/p>\n<p>Ghana and Tanzania, which also rely on gold exports, could be hit by the \u201cdouble whammy\u201d of a drop in the value of their reserves and lower export earnings, he said.<\/p>\n<p>Governments could also struggle to convert their gold holdings into liquid assets like hard currencies, Gard said, pointing to India and Argentina when they faced acute balance of payments challenges in the 1990s and 2000s, respectively.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Lesotho<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Lesotho. Sub-Saharan African central banks that have added gold to their reserves in recent years could face price and liquidity crises if the value of the precious metal slides, BMI, a unit of Fitch Group, said on Wednesday. Ghana, Tanzania and Nigeria have been buying gold domestically to beef up their reserves, BMI [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":59723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[245],"class_list":["post-59724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-lesotho"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>African Central Banks Face Gold Rush Risks - Lesotho<\/title>\n<meta name=\"description\" content=\"Sub-Saharan African central banks that have added gold to their reserves in recent years could face price and liquidity ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-central-banks-face-gold-rush-risks\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"African Central Banks Face Gold Rush Risks\" \/>\n<meta property=\"og:description\" content=\"Sub-Saharan African central banks that have added gold to their reserves in recent years could face price and liquidity ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-central-banks-face-gold-rush-risks\" \/>\n<meta property=\"og:site_name\" content=\"Lesotho\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-30T20:13:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-30T20:39:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2025\/07\/sm_1753891640.715376.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-central-banks-face-gold-rush-risks#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-central-banks-face-gold-rush-risks\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"African Central Banks Face Gold Rush Risks\",\"datePublished\":\"2025-07-30T20:13:45+00:00\",\"dateModified\":\"2025-07-30T20:39:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-central-banks-face-gold-rush-risks\"},\"wordCount\":406,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-central-banks-face-gold-rush-risks#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2025\/07\/sm_1753891640.715376.jpg\",\"keywords\":[\"Lesotho\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-central-banks-face-gold-rush-risks#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-central-banks-face-gold-rush-risks\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-central-banks-face-gold-rush-risks\",\"name\":\"African Central Banks Face Gold Rush Risks - 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