Di World Dey Fear, Africa Dey Hold: Turning Gold Panic into African Power

As world dey see geopolitical tension dey rise, from Eastern Europe down to South China Sea, one familiar pattern don show again: everybody dey rush go gold.

This old metal wey don pass many centuries no be only commodity; e be deep psychological and financial sanctuary.

How price don soar lately na clear signs say fear don enter world, na like vote wey show say people no trust how international order dey break.

As dis crisis-driven demand dey show gold timeliness, e also bring one important chance wey many people never too notice for Africa, di continent wey get di biggest plenty of am.

Di ultimate store of value

People dey turn to gold when crisis happen for reasons wey deep. Na di last resort asset, something wey you fit hold, wey central bank policy no fit inflate until e lose value, and nobody fit freeze am because of political wahala.

When currencies dey shake and alliances dey change, gold stand gidigba, e dey give liquidity and everybody dey accept am.

Pass pure economy, gold get cultural weight, especially for African, Asian and Middle Eastern communities, where e mean security wey pass from generation to generation and social capital.

Dis kain demand no be only speculative craze; na strategic move from people and countries wey dey find stability for unstable world. Central banks, especially for the Global South, dey lead this move, dem dey gather gold to make their reserves no dey depend only on dollar and to strengthen their monetary independence.

For Africa, dis global turn na loud call. Di continent dey hold pass 40% of di world's gold reserves, but we still dey suffer for the stage wey we just dey export raw materials.

Dis crisis-driven hunger suppose become catalyst for big change. Wetin we gats do na to make sure we capture dis wealth for inside our countries through serious beneficiation.

That one mean say make we build and expand local refineries, set up sovereign mints wey go produce bullion and coins wey carry African brand, and encourage big jewellery manufacturing industry wey need skill.

Every gram of gold wey we refine, design and sell for African soil dey create jobs, dey keep value, and dey build industrial capacity. E go turn primary commodity to finished product wey get African stamp.

Regional gold exchange

Besides, we suppose start financial innovation wey base on our gold wealth. Imagine one pan-African gold-backed financial instrument, collective project wey fit support infrastructure projects or help stabilize currencies.

If we create regional gold exchange, we fit make trade in gold contracts wey price dey local currencies easier, cut dollar dependence and build stronger monetary system.

This no be sey we dey run comot from global finance, but na smart way to engage am on terms wey go increase our sovereignty.

At the same time, we gats formalise and empower artisanal mining sector wey dey contribute well to our production.

Give miners access to fair markets, better technology and safer working condition go join dem into formal economy, increase national revenue, and make sure our gold get ethical provenance — premium wey the world dey demand more now.

Di way world dey run to gold when fear land na old story. But Africa response no suppose passive.

We get the resource; wetin we need now na clear vision and united political will to restructure the whole value chain.

If we do am, we fit turn this time of global uncertainty to foundation for long-term African prosperity, stability and financial self-determination. Make world find shelter for gold; make Africa build hin future for top am.

Di author, Kennedy Chileshe, na Executive Director for Jubilee Leaders Network for Zambia, wey dey focus on Leadership and Governance.

Disclaimer: Di views wey di author express no necessarily mean dem dey represent opinions, viewpoints and editorial policies of TRT Afrika.