Africa turns to gold as central banks rethink reserves

• African central banks pivot to gold amid global price surge
• Namibia buys locally mined bullion for sovereign reserves

WINDHOEK, NAMIBIA – Africa is joining a global shift toward gold as central banks rethink reserve strategies amid record prices and structural changes in precious metals markets.

Central banks worldwide are reshaping the global precious metals landscape, with gold increasingly treated as a strategic reserve asset rather than a purely cyclical investment. According to investment firm Simonis Storm, the shift reflects deep, long-term changes in demand, ownership patterns and the macroeconomic environment.