As of June 2023, Algeria held the highest gold reserves in Africa, estimated at 174 tons, according to data from Trade Economics. Notably, Algeria’s gold reserves remained stable at 173.56 tonnes in the second quarter of 2023, consistent with the first quarter. Egypt ranks second among African nations with the highest gold reserves, holding 126 tonnes as of June 2023. In the second quarter of 2023, Egypt increased its gold holdings from 125.63 tonnes in the first quarter. South Africa ranks third among African countries with the highest gold reserves, which increased to 125.41 tonnes in the second quarter of 2023, up from 125.38 tonnes in the first quarter. Libya possesses Africa’s fourth-largest gold reserve, with an estimated 117 tonnes as of June. Libya’s gold reserves remained steady at 116.64 tonnes in both the first and second quarters of 2023. Morocco, while holding the fourth-largest gold reserve in Africa, significantly lags behind Libya with an estimated 22.12 tonnes. This figure remained unchanged throughout the first quarter of 2023.
The Currency Performance of African Countries with the Largest Gold Reserves
- AFRICA TOP 10
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