African Nations Turn to Precious Metal to Combat Inflation

African nations are increasingly turning to gold as a means to protect their economies against currency losses and inflation, following the lead of countries like China and India.

Countries such as South Sudan, Zimbabwe, Nigeria, Uganda, and Tanzania are either implementing or considering policies to increase their gold reserves.

This trend is driven by geopolitical tensions, recent economic disruptions, and a desire to reduce dependency on the US dollar. While this strategy offers potential benefits in terms of diversification and stability, experts note that it’s not a complete substitute for US dollar reserves but rather a complementary approach to managing economic risks.