The Central Bank of Congo has signed a strategic agreement with a state-owned gold trading company to strengthen its monetary gold reserves, in a move authorities say will bolster financial sovereignty and shield the economy from external shocks.
Governor André Wameso signed the contract with DRC Gold Trading SA, a Congolese company wholly owned by the state, during a ceremony attended by Portfolio Minister Julie Shiku.
The initiative aims to increase the Democratic Republic of Congo’s holdings of monetary gold, a key component of official reserves that can support currency stability and enhance resilience in times of global uncertainty.
Officials said the move is part of a broader strategy to reinforce confidence in the Congolese franc and reduce vulnerability to inflationary pressures and geopolitical turbulence.
“This agreement reflects our determination to consolidate the foundations of our monetary sovereignty,” a senior central bank official said on condition of anonymity, as he was not authorised to speak publicly.
Gold is widely regarded as a safe-haven asset because it carries no counterparty risk and is not directly tied to the liabilities of another country or institution. By expanding gold holdings, the central bank aims to diversify its foreign exchange reserves, which are traditionally dominated by major international currencies.
According to sources familiar with the matter, the central bank will progressively purchase domestically produced gold through the state-owned trading company, integrating it into its official reserves.
The Democratic Republic of Congo is one of Africa’s leading mineral producers, with vast deposits of gold, copper and cobalt. However, much of its gold production has historically been exported through informal channels, depriving the state of revenue and limiting its ability to build strategic reserves.
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By working with DRC Gold Trading SA, authorities hope to formalise gold flows and ensure that a greater share of production contributes directly to national financial stability.
Economists say the accumulation of gold reserves can help central banks hedge against currency depreciation and external imbalances, particularly in emerging economies exposed to commodity price swings.
“Strengthening gold reserves can provide a buffer in times of volatility,” said an independent analyst based in Kinshasa. “It signals prudence to markets and can enhance credibility, especially when global conditions are uncertain.”
The Congolese franc has faced periodic pressure in recent years, reflecting fluctuations in export earnings and broader global financial trends. Authorities have sought to stabilise the currency through a mix of monetary policy measures and reserve management.
While the central bank did not disclose the volume of gold to be acquired under the agreement, officials described the move as a long-term mechanism designed to gradually build up holdings.
The initiative falls squarely within the mandate of the Central Bank of Congo, which is tasked with ensuring price stability and safeguarding the country’s monetary system.
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Government officials framed the agreement as part of wider reforms aimed at strengthening economic governance and reducing dependence on external financing.
Analysts caution, however, that reserve accumulation alone may not be sufficient to address structural weaknesses in the economy.
“Stabilising the currency is important, but reinforcing the real economy is equally crucial,” said one financial consultant in Kinshasa, pointing to the need for diversification beyond extractive industries.
Still, the decision to boost gold reserves marks a notable step toward greater monetary independence for the resource-rich nation.
As global markets grapple with inflationary pressures, tightening financial conditions and geopolitical tensions, Congolese authorities appear keen to anchor confidence in their financial system.
If successfully implemented, the gold reserve strategy could enhance the country’s ability to weather international economic turbulence and strengthen the credibility of its monetary policy framework over the medium to long term.
