Nairobi, May 31 -- The value of gold held by the Central Bank of Kenya (CBK) jumped the fastest in over a decade to Sh309.71 million at the end of December last year, amid a rally in the global price of the precious metal.

The CBK's latest disclosures show that gold holdings rose 63.9 percent from Sh188.9 million held in December 2024.

This is the fastest rise in a single year in at least a decade and came in the period gold prices soared to record levels amid global economic uncertainty.

Kenya's central bank anticipates going into the purchase of gold, becoming the latest African country looking to buy the precious metal as a way of diversifying its reserve holdings, with some investors viewing it as safer than the dollar.

African na...