In its list of the top 10 African nations with the highest gold reserves, Business Insider Africa ranked Morocco fifth, putting the nation in a commanding position among major world economies.
Topping the list is Algeria, holding an impressive 174 metric tons of gold, the country stands strong as the leading African nation in gold reserves.
Second, is South Africa, which maintains a substantial gold reserve of 125 metric tons, followed by Libya, which has a commendable gold holding of 117 metric tons, and then Egypt in the fourth spot, holding 80.73 metric tons, and consolidating its position as one of the key players in the African gold market.
With 22.12 metric tons of gold, Morocco, which came in fifth place among the top 10 nations, cemented its position as a significant player in the African gold market.
Nigeria came next with a gold reserve of 21.37 metric tons, which demonstrates its growing interest in the precious metal.
On the seventh spot is Mauritius, holding 12.44 metric tons of gold, the country marked its position as a nation with a strategic focus on diversifying its reserves.
Ghana took the eighth spot with 8.74 metric tons of gold, maintaining a significant position in Africa’s gold landscape.
Tunisia occupied the ninth rank by holding 6.84 metric tons followed by Mozambique in the 10th spot which holds 3.94 metric tons of gold, contributing to the continent’s overall gold reserves.
“As African nations continue to bolster their gold holdings, these strategic moves position them to navigate the ever-changing global economic landscape and safeguard their economies against potential shocks. The allure of gold as a reliable store of value persists, offering stability and confidence to both governments and investors alike,” said Business Insider Africa.
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