The Central Bank of Egypt (CBE) and the Bank African Import-Export Company (Afreximbank) have signed on Tuesday, December 30, 2025 a Memorandum of Understanding (MoU) creating of a pan-African gold bank. This historic Memorandum of Understanding has been signed during a ceremony held at the Central Bank of Egypt, by the Governor of the Central Bank of Egypt (CBE), H.E. Mr. Hassan Abdalla, and the President of Afreximbank and the Board of Directors from the Bank, Dr. George Elombi.

The establishment of the Pan African Gold Bank is a strategic initiative that aims to formalize gold value chains. It also aims to strengthen central bank reserves and reduce Africa's dependence on refining and trading centers strangers. The implementation of the Gold Bank program is in accordance with the Egypt's vision of developing strategic partnerships and strengthen mutual collaboration with African states in various areas, as well as the priority given by Afreximbank to the promotion and acceleration of the creation of added value and the strategic mineral processing.

This partnership is also based on a vision joint venture between the ECB and Afreximbank aiming to support domestic production, to promote sustainable development and to strengthen regional financial and trade integration, while encouraging a solid and advanced African economic ecosystem.

This initiative is also aimed at expanding its reach to the whole continent, to involve governments, banks power plants, mining companies and players in the sector in order to strengthen the institutional collaboration, to harmonize best practices and facilitate sustainable trade in gold and related services throughout Africa.

AfreximBank and The Central Bank of Egypt have maintained relationships for a long time cordial, with Egypt being the Bank's main shareholder and its host.

As part of this Memorandum of understanding, the two institutions will collaborate in the realization a feasibility study to assess technical requirements, commercial and regulatory requirements necessary for the development of an ecosystem integrated by Banque de l'Or into a designated free trade zone in Egypt, with the participation of African countries. In particular, it will be a question of setting up a internationally certified refinery, warehousing infrastructures secure and associated financial and commercial services.