Top 8 African countries with highest gold reserves

Gold reserves play a vital role in maintaining the financial strength of a country.

They act as a safety net, protecting economies from inflation, currency drops, and financial instability.

For African nations, managing gold reserves wisely helps improve their ability to handle global economic challenges.

As the global economy changes, central banks in Africa often adjust their gold holdings to stay financially secure.

Despite challenges like poor infrastructure, security concerns, and limited refining capacity, Africa’s rich gold resources have encouraged more countries on the continent to invest in increasing their gold reserves.

Recently, the demand for gold has continued to grow. Factors like increased gold buying by central banks, changes in U.S. monetary policy, and international political tensions have pushed gold prices higher.

The World Bank reports that countries like Poland, India, and Turkey are major drivers of this demand.

Gold remains a trusted asset because it can protect national economies from inflation and currency swings, even though it can be costly to store safely.

Today, about 20% of all gold mined is held by central banks.

African countries have stepped up efforts to build their gold reserves in response to global uncertainty.

This shows a serious commitment to financial security. Gold’s role as a safe-haven asset has become more attractive as inflation and political risks continue worldwide.

Below are the top 10 African countries with the largest gold reserves, based on 2025 data from the World Gold Council

1. Algeria

Algeria leads the continent with an estimated 173.56 metric tons of gold. The country has been building these reserves for years as part of its long-term financial strategy.

The central bank sees gold as a shield against the weakening of its currency and global economic shifts.

2. Libya

Libya holds around 146.65 metric tons, making it the second-largest holder of gold in Africa.

These reserves, mostly accumulated during Muammar Gaddafi’s rule, are crucial for protecting the country’s economy, especially during times of political and financial instability.

3. Egypt

With approximately 126.82 metric tons of gold, Egypt has continued to boost its gold holdings.

This move supports the country’s economic plans, offering a backup for its currency and helping the central bank manage foreign exchange changes.

4. South Africa

South Africa has about 125.44 metric tons in reserves. Though gold production has declined over the years, the country remains a key player in the gold industry.

Its reserves are essential for maintaining currency stability and storing national wealth.

5. Morocco

Morocco holds 22.12 metric tons of gold. These reserves help keep the country’s economy stable and support its fiscal strategies.

The Moroccan government monitors global gold trends closely to guide its decisions on reserve management.

6. Nigeria

Nigeria owns around 21.37 metric tons of gold. The government has recently focused on boosting these reserves to support the naira and reduce its dependence on oil exports.

Gold now plays a growing role in Nigeria’s foreign reserve strategy.

7. Mauritius

Mauritius holds about 12.42 metric tons of gold, valued at over $700 million.

Since the 1980s, the island nation has seen gold as key to financial security and international trade, providing protection during uncertain economic times.

8. Ghana

Ghana’s gold reserves stand at approximately 8.74 metric tons.

As one of Africa’s top gold producers, Ghana is gradually increasing its gold holdings to stabilise its currency and support economic growth. Gold remains a major export earner for the country.