Falling Gold Prices Could Threaten African Reserves, BMI Warns
By Ayomide Otitoju Sub-Saharan African central banks could face reserve and liquidity risks if gold prices drop sharply, Fitch unit BMI warned on Wednesday. Countries including Nigeria, Ghana, and Tanzania have ramped up domestic gold purchases to diversify reserves amid global volatility. Others like Kenya, Uganda, Rwanda, Namibia, and Zimbabwe are either exploring or have…