The Central Bank of Egypt (CBE) and African Export–Import Bank (Afreximbank) have signed a memorandum of understanding to establish a pan-African Gold Bank programme aimed at formalising gold value chains, strengthening central bank reserves and reducing Africa’s reliance on foreign refining and trading hubs. Under the MoU, the two institutions will commission a feasibility study covering the technical, commercial and regulatory requirements for an integrated Gold Bank ecosystem in a designated free zone in Egypt, with participation from African countries. The proposed ecosystem includes an internationally accredited refinery, secure vaulting facilities and associated financial and trading services, with plans to broaden engagement across the continent with governments, central banks, mining companies and other industry stakeholders to support harmonised practices and sustainable trade. Egypt’s role as a potential hub is explicitly subject to the feasibility study’s outcome and subsequent approvals, with the initiative envisaged as capable of progressively expanding into a wider pan-African framework.
Central Bank of Egypt 2025-12-30
Central Bank of Egypt signs MoU with Afreximbank to establish a pan-African Gold Bank
The Central Bank of Egypt and African Export–Import Bank have signed an MoU to establish a pan-African Gold Bank programme to formalise gold value chains and strengthen central bank reserves. A feasibility study will assess the requirements for an integrated Gold Bank ecosystem in Egypt, including a refinery and vaulting facilities. The initiative aims to expand across Africa, involving governments, central banks, and industry stakeholders.