While chaos and uncertainty in global markets is escalating as a result of the volatile trade policies of US President Donald Trump, gold has become again into a safe global refuge, but for some African countries, it has become more than just a refining tool, but rather a rare economic opportunity.
According to a report published by Bloomberg, the price of gold has increased by approximately 25% since Trump’s inauguration on January 20, 2025, which contributed to stimulating mining operations in African countries suffering from scarcity of liquidity, such as Zimbabwe, Ghana and Namibia.
Zimbabwe .. unexpected prosperity in light of the economic collapse
In Zimbabwe, who has been in a suffocating economic crisis for more than two decades, gold production increased by 61% in April compared to last year, driven by the entry of thousands of fossils and young workers into mines, where their mass production doubled.
“We have to make the most of the wave of high prices. This production is in the interest of the entire country,” said Wellington Takavarasha, head of a union representing about 700,000 young mining workers.
On the other hand, the government announced the resumption of the gold coins “Moussa-Au-Tonia”, as an attempt to provide local motivation tools in front of the continuous collapse of the currency.
Ghana .. Gold enhances the reserve of the central bank
In Ghana, which is still trying to get out of the stifling debt crisis, the gold exports revenues increased by 60% during the first two months of this year, and the purchases of the Central Bank of Gold contributed to strengthening the reserves and stability of the local currency (Sidi), which has become the best performance against the dollar since last April.
Namibia .. transfers across gold
In Namibia, the government joined the global central banks ’tendency to increase gold reserves to counter economic shocks, taking advantage of the rapid gains achieved by the yellow metal.
Mali and Ghana .. obstacles to major companies
But the boom did not include everyone; In Mali, the largest gold mine has been disrupted since last January due to tax differences between the military authorities and the “Barrick Maining” company.
In Ghana, the plans of “Anglo Gold Gold” and “Gold Fields” have faltered as a result of government delays in issuing permits, which led to the suspension of talks to develop a huge mine project.
Democratic Congo .. Gold feeds the conflict
In the east of the Democratic Republic of the Congo, where large areas suffer from security instability, the high price of gold has increased the influence of armed groups on mines, forcing many farmers to leave their lands and engage in rudimentary mining.
Bloomberg indicated that the high global demand for gold is aggravated by the tragedies of the locals, who find themselves between the hammer of poverty and the anvil of armed violence.
Gold compensates for chaos
Amid the escalating geopolitical tensions – from the US -launched trade war, to armed conflicts in Africa, to the fluctuations of energy markets – it seems that gold is the only winner in this turbulent scene.
Bloomberg believes that many African countries have found in the precious metal a short -term rescue tool for their fragile economies, which face challenges, the most prominent of which is inflation, the decline in foreign investment, and the disturbance of financial markets.
But the biggest challenge remains the transformation of these emergency returns into sustainable investments, saves the real economy from its repeated crises, and African societies avoid more chaos and exploitation.
