Africa at Turning Point: Gold, De-Dollarization & Quest for Economic Sovereignty — Malian Economist Weighs in
17:37 02.09.2025 (Updated: 17:44 02.09.2025)
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Africa at Turning Point: Gold, De-Dollarization & Quest for Economic Sovereignty — Malian Economist Weighs in
Since the independence period, the continent has remained in a "commodity economy" — exporting raw materials and importing processed goods, Modibo Mao Makalou told Sputnik Africa.
"When negotiating with multinationals, there is generally interference from Western governments. Africans really need strategies, such as an African mining vision."
Central banks are trying to respond by keeping a percentage in gold in their foreign exchange reserves, while the share of the dollar is decreasing, he added.
"There is a de-dollarization because the dollar is not only an economic exchange tool but also a tool for political blackmail."
The expert urged African countries to review certain monetary cooperation agreements and to question the CFA franc, which is now "obsolete."
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