The Central Bank of Kenya (CBK) has formed a team to investigate the feasibility of acquiring gold to diversify the nation’s reserve assets. This move aims to reduce reliance on traditional currencies like the U.S. dollar amidst global shifts, following a trend seen among other African nations.

• As of June 2025, Kenya’s CBK holds approximately 600 ounces of gold, valued at around $1.3 million (Sh169 million).
• The key person involved is CBK governor Kamau Thugge.
• Kenya had previously sold off its gold reserves in 1998 as part of a strategy to restructure foreign exchange reserves.