Top 10 African countries with the most gold reserves in 2025

Gold reserves play a key role in financial stability, protecting national economies from inflation, currency depreciation, and financial instability. African nations manage gold strategically to strengthen economic resilience.

As global conditions shift, central banks may adjust their holdings to secure financial futures. Africa’s position as a major gold producer supports efforts to increase gold ownership, but infrastructure, security, and refining capacity remain challenges.

The cost of storing and securing gold is a concern, but its role in hedging against inflation and currency fluctuations makes it a crucial reserve asset. Central banks hold about 20% of all gold ever mined.

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Rising gold prices reflect geopolitical tensions, increased central bank purchases, and US monetary easing. The World Bank reports that India, Türkiye, and Poland have driven gold demand in 2024, reinforcing gold’s status as a safe-haven asset.

According to the World Gold Council, here are the top 10 African countries with the most gold reserves in 2025

Algeria – 173.56 tonnes

Algeria holds the highest gold reserves in Africa, reflecting its long-term financial strategy. It uses gold as a hedge against currency devaluation and global economic shifts, while the central bank continues to accumulate reserves to strengthen financial security.

Libya – 146.65 tonnes

Libya maintains the second-highest reserves on the continent, making gold a key component of its economic framework. Gold remains crucial for wealth preservation amid political and economic uncertainties, providing a financial cushion against inflation and external economic pressures.

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Egypt – 126.82 tonnes

Egypt’s strong reserve base supports monetary policy and economic stability. The country strategically holds gold to balance foreign currency reserves and market fluctuations, with its central bank actively managing reserves to mitigate financial risks.

South Africa – 125.44 tonnes

South Africa, historically one of the world’s largest gold producers, maintains significant reserves that support currency stability and serve as a store of value for national wealth. The reserves are part of a diversified financial strategy aimed at ensuring long-term economic resilience.

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Morocco – 22.12 tonnes

Morocco ranks fifth in Africa for gold reserves, which play a role in economic security. The country leverages gold to stabilise its financial sector and support fiscal policies, with the government closely monitoring global gold trends for informed reserve management decisions.

Nigeria – 21.37 tonnes

Nigeria continues to expand its gold reserves to reduce reliance on oil revenues. These reserves strengthen national financial security, contribute to economic diversification, and align with efforts to stabilise foreign exchange reserves.

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Mauritius – 12.42 tonnes

Mauritius holds gold as part of a broader strategy to protect against global economic downturns. It aims to enhance financial resilience through diversified reserve management, with gold playing a key role in the country’s central bank monetary policies.

Ghana – 8.74 tonnes

Despite being a leading gold producer, Ghana’s reserves remain relatively modest. The government is working towards increasing holdings to strengthen financial security, while gold reserves continue to support the country’s economic stability and banking sector.

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Tunisia – 6.84 tonnes

Tunisia maintains gold reserves to stabilise its currency and manage inflation risks. Gold is a strategic asset, ensuring financial security during economic fluctuations, and the central bank evaluates global gold market trends for future reserve planning.

Mozambique – 3.94 tonnes

Mozambique holds gold as a buffer against economic uncertainties and market volatility. The government manages reserves cautiously to enhance long-term financial stability, recognising gold reserves as a critical component of its economic planning.