African Gold Trade Shift Strengthens BRICS De-dollarisation Drive

Africa produces about 40% of the world’s gold but most of it is exported raw, primarily to the United Kingdom for refining. Countries such as Ghana, Nigeria and Tanzania are increasing state purchases of locally mined gold, while Guinea has announced a ban on raw‑gold exports, requiring smelting and certification at a new refinery before any shipment.

The emerging control over African gold supplies is feeding a broader BRICS strategy to reduce reliance on the US dollar. Russia and China have amassed record gold reserves, and the Nubian Shield—spanning Egypt, Ethiopia, Sudan and Eritrea—has become a key source for a de‑dollarisation agenda that links African miners, Middle‑East trade hubs and the financial policies of emerging powers.