MWE Correspondent
The ongoing debate surrounding the storage of gold reserves by the Central Bank of West African States in France has sparked a critical conversation about Africa‘s economic sovereignty.
A presidential candidate in Benin’s upcoming 2026 election and an insightful economic analyst Bertin Koovi, , has articulated a compelling argument for the urgent need to repatriate these valuable resources. According to Koovi, the decision to keep such significant gold reserves abroad reflects a troubling “lack of political courage and vision.”
Koovi stressed that this issue goes beyond simple logistics; it represents a larger narrative of dependency that has affected African nations since colonial times. By keeping gold reserves outside the continent, African countries unintentionally strengthen their reliance on foreign powers, which hinders their capacity to utilize their own resources for national development. “This isn’t merely a practical decision; it signifies our dependence,” he remarked, pointing out the psychological and economic consequences of such actions.
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The call for repatriation is not merely about reclaiming physical assets; it represents a transformative vision for Africa’s future. Koovi asserts, “The repatriation of gold must be seen as an economic revolution and a rebirth for our nations.” This perspective underscores the potential for African countries to redefine their economic path by taking control of their resources. Repatriating gold could provide the necessary capital to invest in infrastructure, healthcare, and education—areas that are critical for sustainable development.
The economic Analyst also advocates for reinvesting the capital gains generated from these assets into social projects that directly benefit the African populace. By channeling wealth back into local communities, countries can improve the daily lives of their citizens, fostering an environment where prosperity is shared rather than concentrated. This approach not only addresses immediate economic needs but also builds a foundation for long-term growth and stability.
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As African nations grapple with the legacy of colonialism, Koovi’s message resonates deeply: “We must turn the page on the postcolonial complex and build the Africa we deserve, free and prosperous.” This call to action is not just a plea for change; it is a rallying cry for unity among African nations to reclaim their resources and assert their independence on the global stage.
The repatriation of gold and other minerals is not merely an economic necessity; it is a moral imperative. It represents an opportunity for African countries to break free from historical shackles and chart their own destinies. With strategic planning and collective action, Africa can harness its rich mineral wealth to create a future that reflects its potential—one that is self-sufficient, resilient, and prosperous.
As discussions around this critical issue continue, it is essential for African leaders, policymakers, and citizens to engage in dialogue about the implications of resource management. The time has come for Africa to reclaim its gold and, in doing so, reclaim its future.
The Central Bank of West African States (BCEAO) serves eight countries in West Africa. These countries are: Benin, Burkina Faso, Guinea-Bissau, Ivory Coast (Côte d’Ivoire), Mali, Niger,Senegal, Togo.Until recently, these countries, including Burkina Faso, which canceled the use of the CFA franc, were all sharing the West African CFA franc currency and are a part of the West African Economic and Monetary Union (WAEMU).A union active in the developing financial inclusion policy and is a member of the Alliance for Financial Inclusion .
Source: Spunik
Bertin Koovi’s argument highlights a key issue in Africa’s struggle for economic independence. By storing gold reserves abroad, African nations are inadvertently reinforcing a cycle of dependency that has roots in colonial history. Replicating the same pattern of relying on foreign powers for resources not only limits sovereignty but also deprives African nations of the opportunity to use these reserves for their own development.
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