Mudassir Amray, the executive director at Tropical General Investments (TGI Group), has described gold as “a metal of strategy” and “an inflation firewall” for African economies.
Mr. Amray made this remark during his keynote address at the Gold Roadshow Africa, held on November 7, 2025, which brought together central bankers, policymakers, and institutional investors to explore Africa’s growing role in the global gold value chain.
In his presentation, titled “The Bridge Between Trust, Value and Financial Sovereignty for Africa,” Mr. Amray highlighted that the recent rally, which saw gold cross the $4,300 mark for the first time in history, reflects a broader global shift in trust, capital, and power.
“For years, gold was seen as a metal of beauty,” he said. “Today, it stands as a metal of strategy, politically neutral, instantly liquid, and a firewall against inflation and currency depreciation.”
He stated that Africa produces over 40% of the world’s gold but captures less than 2% of its financial value, calling for a stronger focus on domestic value addition.
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“We export raw and import finished wealth,” Mr. Amray noted. He commended ongoing local initiatives by Kian Smith Gold Refinery as important steps toward sustainable value capture and industrial growth.
Following his keynote, Mr. Amray joined a high-level dialogue with Bolaji Balogun, Founder and CEO of Chapel Hill Denham, moderated by Bode Oyetunde of the African Development Bank (AfDB).
The discussion focused on the policy, infrastructure, and investment frameworks needed to integrate gold into Nigeria’s financial system.
The Gold Roadshow Africa concluded with a shared commitment among participants to strengthen policy alignment, promote private sector investment, and advance local processing to drive inclusive and sustainable growth across the continent’s gold value chain.
