The Central Bank of the Democratic Republic of Congo (DRC) has formalized a systematic purchase program targeting a portion of the country’s artisanal gold output. By placing gold at the core of its reserve management strategy, the BCC signals a decisive shift toward monetary sovereignty and enhanced external balance sheet resilience.
The initiative is being implemented in partnership with DRC Gold Trading SA, a state-owned company established in 2022 following the exit of Emirati firm Primera Gold. Governor André Wameso emphasized at the signing ceremony that the objective is to “correct a major historical anomaly”: the absence of physical gold in the vaults of one of the world’s largest producers. “The Central Bank intends to position itself as the principal off-taker of gold produced by our artisanal miners, through DRC Gold,” he stated.
While technical details of the procurement process are still being finalized, transactions are expected to be settled in Congolese Francs. The program seeks to convert domestically produced gold into sovereign reserve assets while reducing reliance on foreign currencies. DRC Gold Trading aims to channel a portion of its targeted 15 tonnes of annual gold purchases into official reserves.
Achieving this target presents notable challenges. The supply side requires a fivefold increase in formally declared artisanal gold relative to the 2.5 tonnes recorded in 2025. Financially, purchasing 15 tonnes at an average price of $5,050 per ounce would require approximately $2.4 billion, equivalent to roughly one-third of the 2026 national budget — necessitating careful management to mitigate inflationary pressures.
Several African examples provide guidance. Tanzania mandates a 20% central bank buyback of national gold production, Ethiopia offers premiums above global market rates to incentivize formal reporting, and Ghana maintains a 38-tonne central bank gold stock to optimize liquidity. Conversely, Cameroon’s CAPAM program underperformed due to uncompetitive pricing and governance gaps.
For the DRC, success will depend on offering prompt, competitive, and transparent payments in local currency, supported by digital traceability mechanisms aligned with OECD due diligence standards. If effectively executed, the initiative could transform the country’s substantial subterranean wealth into a durable strategic asset for macroeconomic stability.
