Top 10 African nations with the highest foreign exchange and gold reserves in 2025

Libya holds the largest foreign exchange and gold reserves in Africa, according to Global Firepower, followed by Algeria and South Africa.

Foreign exchange and gold reserves are key assets for strengthening financial stability, enabling governments to pay for imports, settle international debts, and protect economies from external shocks.

These reserves consist mainly of foreign currencies, provide a safeguard during economic uncertainty, stabilise national currencies and manage trade imbalance and also are recognised for their role as a hedge against inflation and economic instability, helping countries diversify their assets and secure their wealth.

Read also: Top 10 African countries with the highest external reserves

African countries have focused on building and maintaining substantial reserves to enhance economic stability and attract foreign investment. These reserves enable governments to navigate global economic fluctuations, providing a more resilient financial environment. As the global economy evolves, countries with larger reserves are better positioned to manage economic challenges.

Here are the top 10 African nations with the highest foreign exchange and gold reserves in 2025

1. Libya

Libya leads the continent in foreign exchange and gold reserves with $92.43 billion. The country has been able to amass significant reserves through its oil exports and strategic management of its resources.

2. Algeria

Algeria follows closely holding more than $81.22 billion in foreign exchange and gold reserves. The country’s reserves stem from its energy sector, particularly oil and gas exports, which have helped bolster its financial standing.

3. South Africa

South Africa ranks third with over $62.49 billion in foreign exchange and gold reserves. The country benefits from its mining sector, especially its production of gold, platinum, and other minerals, contributing significantly to its foreign exchange reserves.

Read also: Top 10 African countries with the highest external reserves

4. Nigeria

Nigeria has reserves exceeding $41.35 billion. The country’s oil exports, along with a diversified approach to building its reserves, contribute to its relatively strong financial position in the continent.

5. Morocco

Morocco ranks fifth with over $36.33 billion in foreign exchange and gold reserves. The country has built up its reserves through robust industries, including agriculture, mining, and tourism.

6. Egypt

Egypt holds significant foreign exchange and gold reserves of over $33.07 billion, largely supported by its tourism, gas, and oil sectors, as well as strategic economic reforms aimed at stabilising the national economy.

7. Angola

Angola ranks seventh, with foreign exchange and gold reserves reaching $13.94 billion. Angola’s oil exports and mining activities contribute significantly to its foreign exchange and gold reserves.

Read also: Africa: Top 10 countries with the largest gold reserves 2023

8. Tunisia

Tunisia holds $9.24 billion in foreign exchange and gold reserves. The country’s reserves are largely derived from its manufacturing, mining, and agriculture sectors.

9. Kenya

Kenya, a leading economy in East Africa, maintains $7.34 billion in foreign exchange and gold reserves. The country benefits from a growing agricultural sector, alongside a rising level of foreign investments.

10. Cameroon

Cameroon rounds off the list with approximately $5.75 billion in foreign exchange and gold reserves. The country’s financial stability is underpinned by its diverse export sectors, including oil, timber, and agriculture.