Top 10 African Countries with the Largest Gold Reserves in 2023

In recent years, African countries have made significant strides in strengthening their gold reserves, positioning themselves favorably amid global economic uncertainty and safeguard their economies against potential shocks. As geopolitical tensions and inflation concerns persist, the allure of gold as a safe-haven asset has intensified. Today, we delve into the top 10 African countries with the largest gold holdings in 2023, based on data from Statista.

Topping the list is Algeria, proudly boasting the largest gold reserves on the continent. With a robust holding of 174 metric tons, Algeria stands strong as the leading African nation in terms of gold reserves. Following closely behind is South Africa, renowned for its rich gold mining history. The country maintains an impressive gold reserve of 125 metric tons, solidifying its position as a major player in the global gold market.

Securing the third spot on the list is Libya, with a commendable gold holding of 117 metric tons. Libya’s substantial reserves contribute to its growing presence in the African gold scene. Egypt, a key player in the region, holds 80.73 metric tons of gold, consolidating its position as one of the leading countries in the African gold market.

Morocco, known for its vibrant culture and rich history, solidifies its status as a noteworthy contender in the African gold scene, boasting 22.12 metric tons of gold. Nigeria, on the other hand, demonstrates its growing interest in the precious metal with a respectable gold reserve of 21.37 metric tons.

Mauritius, a nation with a strategic focus on diversifying its reserves, holds 12.44 metric tons of gold, making its mark as a country with a proactive approach to safeguarding its economy. Ghana, renowned for its gold production, maintains a significant position in Africa’s gold landscape with 8.74 metric tons.

Tunisia showcases its presence as a country keen on harnessing the value of gold, with a gold reserve of 6.84 metric tons. Finally, securing the tenth spot on the list is Mozambique, contributing to the continent’s overall gold reserves with 3.94 metric tons.