NewStats: 3,262,858 , 8,178,387 topics. Date: Tuesday, 03 June 2025 at 08:27 PM 402v13

Africa is home to some of the world’s largest gold reserves, with several countries holding more than 100 metric tons of the precious metal. These reserves represent a significant source of wealth and potential for economic development for the continent.

Gold is a valuable asset that can boost foreign exchange reserves, reduce reliance on foreign borrowing, attract foreign investment, and stabilize the national currency.

According to the data released from Statista, here are the top 10 African countries with the largest gold reserves in 2023.

Algeria

Algeria is the clear leader in gold reserves in Africa, with over 174 metric tons. The country has been accumulating gold reserves since the early 2000s, and its reserves are now worth over $10 billion.

South Africa

South Africa is another major gold producer and holder of reserves in Africa. The country has over 125 metric tons of gold reserves worth over $7 billion.

Libya

Libya has over 117 metric tons of gold reserves worth over $6 billion. The country’s gold reserves were accumulated during the Gaddafi era and have been largely untouched since the 2011 civil war.

Egypt

Egypt has over 80.73 metric tons of gold reserves worth over $4 billion. The country has been increasing its gold reserves recently, seeking to diversify its economy and reduce its reliance on foreign currency reserves.

Morocco

Morocco has over 22.12 metric tons of gold reserves worth over $1 billion. The country has been accumulating gold reserves since the 1970s.

Nigeria

Nigeria has over 21.37 metric tons of gold reserves worth over $1 billion. The country has been increasing its gold reserves in recent years, seeking to boost its foreign exchange reserves and reduce its reliance on oil exports.


Mauritius

Mauritius has over 12.44 metric tons of gold reserves. The country has been accumulating gold reserves since the 1980s, and its reserves are now worth over $700 million.

Ghana

Ghana has over 8.74 metric tons of gold reserves worth over $500 million. The country has been increasing its gold reserves in recent years, as it seeks to diversify its economy and reduce its reliance on cocoa exports.


Tunisia

Tunisia has over 6.84 metric tons of gold reserves worth over $400 million. The country has been accumulating gold reserves since the 1970s.

Mozambique

Mozambique has over 3.94 metric tons of gold reserves worth over $200 million. The country has been increasing its gold reserves in recent years, seeking to boost its foreign exchange reserves and reduce its reliance on foreign aid.

African countries’ accumulation of gold reserves is a sign of their growing economic importance and desire to diversify their economies. Gold is seen as a safe haven asset that can protect countries from economic shocks. It can also be used to back up the national currency and to attract foreign investment.

The continued growth of gold reserves in Africa will likely positively impact the continent’s economy. It will help to boost foreign exchange reserves, reduce reliance on foreign borrowing, and attract foreign investment. It will also help to stabilize the national currency and protect countries from economic shocks.

https://businessday.ng/news/article/africa/?amp=1

Funny enough that same Ghana, formerly called Gold Coast, is among the last on the list , even behind Nigeria.

Despite being an independent nation before Nigeria, Ghana, like other nations older than our nation, have gone way behind Nigeria in of development and if anyone had predicted that Ghana would be behind us even in Gold, no one would have believed it.

I am happy that the CBN, under Emefiele, had even assured our Gold miners that Federal Government is ready to buy their gold from them too.

We need more investments in mining.

There's abundance of gold in Osun and Oyo state. This is the best time to invest in the mining sector and you will even enjoy tax holidays for 3 years and you can repatriate 100% of your funds!

Invest in Lagos and the neighbouring Yoruba South West states of Nigeria to enjoy great returns and best investor- friendly experience.

There's huge clay, sand for glass making etc deposit in Lagos , Ogun has loads of granite, bitumen, limestone etc, Osun and Oyo have perhaps the largest deposit of lithium ore in Africa along with gemstones, gold etc, Ondo has one of the world's largest deposit of bitumen.

Bring your investment to South West Nigeria today. God bless Nigeria for ever! Check my signature for free stuffs!

FreeStuffsNG:
Funny enough that same Ghana, formerly called Gold Coast, is the last on the list , even behind Nigeria.

Despite being an independent nation before Nigeria, Ghana, like others nations older than our nation, have gone way behind Nigeria in of development and if anyone had predicted that Ghana would be behind us even in Gold, no one would have believed it.

I am happy that the CBN, under Emefiele, had even assured our Gold miners that Federal Government is ready to buy their gold from them too.

We need more investments in mining. There's abundance of gold in Osun and Oyo state. This is the best time to invest in the mining sector and you will even enjoy tax holidays for 3 years and you can repatriate 100% of your funds!

FG will buy gold from gold miners
But FG will not buy crude oil from bunkerers
Gold belongs to the miners
Crude oil belongs to FG

And this one says he is happy
Despicable things


Anyway what's my business sha, SS are not complaining, but I know one day when SE becomes very aware of what is taken from their land, they will revolt

Good. But Nigeria continue borrowing, I don't even understand again. We have almost every resources on earth,but we no dey stop borrow borrow.
I tire!

Nigeria shouldn't be there. We act and pretend to be poor

Still oyibo better Una.

A country with gold ruled by a cocaine criminal

Hehe

FreeStuffsNG:
Funny enough that same Ghana, formerly called Gold Coast, is the last on the list , even behind Nigeria.

Despite being an independent nation before Nigeria, Ghana, like others nations older than our nation, have gone way behind Nigeria in of development and if anyone had predicted that Ghana would be behind us even in Gold, no one would have believed it.

I am happy that the CBN, under Emefiele, had even assured our Gold miners that Federal Government is ready to buy their gold from them too.

We need more investments in mining. There's abundance of gold in Osun and Oyo state. This is the best time to invest in the mining sector and you will even enjoy tax holidays for 3 years and you can repatriate 100% of your funds!

I am sure Ghana has a genuine and realistic reserve whereas your darling Nigeria has an Imaginary reserve.

jullary:
Good. But Nigeria continue borrowing, I don't even understand again. We have almost every resources on earth,but we no dey stop borrow borrow.
I tire!

That's because the reserve only exists on paper.

The one zamfara state government abi who dey control that illegal mine for zamfara huge Wetin Nigeria Dey reserve

Imagine individuals can mine their gold in their regions illegally in the north but southerners can’t refine their one crude😂😂

jullary:
Good. But Nigeria continue borrowing, I don't even understand again. We have almost every resources on earth,but we no dey stop borrow borrow.
I tire!

English ...English.... We have two key words here, "gold" and "reserve".
It meant to be saved, to be reserved, not for spending

Felix6:

That's because the reserve only exists on paper.

On your paper. Nigerians are so against any positive development in the country yet everyday you cry for positive change. But each time anything positive comes from the government you hate the positive you reject it by saying it's a lie, it's fake, it's only on paper, if I were a politician, I won't do anything, because the average Nigerian doesn't expect you to and when you do, they will still castigate you for doing the good, some will say it's eye service. You Felix are an enemy of the country.
You obviously don't even know what the word reserve means but you are the first the discredit the government, simple English word you can't take responsibility to understand but you will blame the government for not having a job

FreeStuffsNG:
Funny enough that same Ghana, formerly called Gold Coast, is the last on the list , even behind Nigeria.

Despite being an independent nation before Nigeria, Ghana, like others nations older than our nation, have gone way behind Nigeria in of development and if anyone had predicted that Ghana would be behind us even in Gold, no one would have believed it.

I am happy that the CBN, under Emefiele, had even assured our Gold miners that Federal Government is ready to buy their gold from them too.

We need more investments in mining. There's abundance of gold in Osun and Oyo state. This is the best time to invest in the mining sector and you will even enjoy tax holidays for 3 years and you can repatriate 100% of your funds!

I like your ghana angle. Ghana held lots of promises. It was its gold deposits that attracted the british. Kwame Nkrumah was an epitome of pan africanism and deployed ambitious infrastructure projects across ghana, to the extent that Ghana was seen both as a model for modern nation building among many fledging african states just out of european colonialism, and a curator of sorts for black african history by a cross section of afro centric and black conscious african americans.

The unfortunate ousting of Nkrumah by reactionary forces brought Ghana to its knees.

So much Natural & human resources in this Country.

Nigeria needs to operate as a true Federation. Let there be devolution of powers to the States. Let them be more autonomous. It will help every state to maximise their potentials.

The list is incomplete without kwara state

In Nigeria 🇳🇬 the revenue from that sector just like every other solid mineral sector is never ed for because the so called FG and the skewed democracy we practice makes it impossible for state to properly manage resources within their domain...


Everyone's eyes is still on the oil and gas in the South.

Gold reserve wen no make the people of those nation Golden, that one na Gold reserve?

Abeg, make una shift joor.
Imagine, average household for we nation no dey earn reach 100USD/Month.

jullary:
Good. But Nigeria continue borrowing, I don't even understand again. We have almost every resources on earth,but we no dey stop borrow borrow.
I tire!

Ur tire dey learn for where my own tire dey

Vsb

Nigeria shouldn't be on that list. Having wealth and making the proceedings of that wealthy available for the common man are two different things entirely.

This I have seen.

Nice

God blessed Nigeria but Satan gave us bad leaders

For some strange reason I don’t believe news about Africa resources I do believe the figures are trimmed down so the rest can be stolen comfortably

Was thinking Ghana is mile ahead of Nigeria in this gold reserve thing.

We get resources!
It's time to manage them!

Zionmdde:

FG will buy gold from gold miners
But FG will not buy crude oil from bunkerers
Gold belongs to the miners
Crude oil belongs to FG

And this one says he is happy
Despicable things


Anyway what's my business sha, SS are not complaining, but I know one day when SE becomes very aware of what is taken from their land, they will revolt

What is taken from the SE? You meant to say SS....last i knew, majority of other natural resources are abundant in other regions. If SE for instance has gold, by now, trust my Igbo brothers, nobody will even be in lagos, na mining them go dey do for East.

FreeStuffsNG:
Funny enough that same Ghana, formerly called Gold Coast, is among the last on the list , even behind Nigeria.

Despite being an independent nation before Nigeria, Ghana, like others nations older than our nation, have gone way behind Nigeria in of development and if anyone had predicted that Ghana would be behind us even in Gold, no one would have believed it.

I am happy that the CBN, under Emefiele, had even assured our Gold miners that Federal Government is ready to buy their gold from them too.

We need more investments in mining. There's abundance of gold in Osun and Oyo state. This is the best time to invest in the mining sector and you will even enjoy tax holidays for 3 years and you can repatriate 100% of your funds!
Invest in Lagos and the neighbouring South West states to enjoy great returns and best investor- friendly experience.

There's huge clay, sand etc deposit in Lagos , Ogun has loads of granite, bitumen, limestone etc, Osun and Oyo have perhaps the largest deposit of lithium in Africa along with gemstones, gold etc, Ondo has one of the world's largest deposit of bitumen.

Bring your investment to South West Nigeria. God bless Nigeria for ever! Check my signature for free stuffs!

How can someone begin to buy Nigerian gold. I've always picked gold and crypto currency as some of my choicest alternative assets. Do you know how one can get started investing in the Nigerian gold industry

This is to those igbos disturbing us about tinubu certificate, y don’t u make money from what u claim to know

Go n chop Reno money now
Many others don drop money too

Instead of coming here to disturb our peace go n collect d money

Racoon
Princeoflagos n other miscreants

So Nigeria even have gold reserve than Ghana, still Nigeria government is generating revenue from gold