CBK to Diversify Reserves with Silver and Platinum Addition
The Central Bank of Kenya (CBK) plans to include platinum and silver in its reserves, aiming to diversify away from gold and foreign currencies. This move follows trends among various central banks globally that have started incorporating these metals as hedges against inflation and currency fluctuations.
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The Central Bank of Kenya (CBK) is set to amend Section 27 of the CBK Act to allow the addition of silver and platinum to its reserves, moving beyond its current gold-only holdings. This decision aligns with a growing trend where central banks, including those in Russia and China, diversify into precious metals to mitigate economic risks.
As of December 2025, the value of gold held by CBK increased to Sh309.71 million, a 63.9% rise from the previous year, driven by heightened global gold prices. The prices for silver and platinum surged in 2025, with silver at $76.60 per ounce and platinum at $1,995.40, reflecting strong industrial demand. The integration of these metals could enhance Kenya's economic stability but may require careful management to avoid market volatility.
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