CBK Given Priority in Locally Mined Gold Purchases

President William Ruto has announced that the Central Bank of Kenya (CBK) will receive priority in purchasing locally mined and processed gold. This move is part of a plan to bolster national foreign exchange reserves, according to Ruto.

The decision comes two months after Ruto signed the Central Bank of Kenya (Amendment) Act, 2026, which allows the CBK to buy gold to diversify its reserve assets. Tanzania and Ghana have implemented similar schemes in the past.