Arab Finance: The African Export-Import Bank (Afreximbank) is seeking to begin construction of a gold refinery in Egypt by the end of 2026, with investments ranging between $50 million and $100 million, Ayman El Zoghbi, Director and Global Head of Trade, Investment & Corporate Finance at Afreximbank, told Asharq Business.
El Zoghbi expected the implementation phase to be disclosed during the third quarter (Q3) of 2026, based on the feasibility study conducted by McKinsey.
However, he noted that the refinery is expected to commence production in 2027 or 2028.
In collaboration with the Central Bank of Egypt (CBE), this project marks a milestone in turning Egypt into a global hub in the gold industry.
In December 2025, Afreximbank and the CBE signed a memorandum of understanding (MoU) for the gold refinery to expand partnerships with African countries and accelerate value-added mineral processing across the continent.
