Tuesday 24/June/2025 – 02:49 PM
The Business Insider Africa platform announced that Egypt has ranked third in the continent of Africa for the most gold -owned countries, with a reserve of about 128 tons of gold.
The countries most possessing gold in Africa
According to Business Insider Africa, Algeria came in the forefront of the African countries that are most -owned by gold with a value of 173.56 tons of gold, while Libya ranked second with a value of 146.65 tons of gold, and Ghana came in the fourth place of the most gold -handled countries in Africa with a value of 31.01 tons of gold.
Earlier, data issued by the Central Bank of Egypt showed the increase in gold balances included in the foreign exchange reserves to reach 13.679 billion dollars at the end of May 2025, compared to 13.629 billion dollars at the end of April of the same year.
This slight rise reflects the stability of the reserve management policy of the Central Bank, amid efforts to enhance the gold component as one of the safe elements within the foreign reserve, in light of the fluctuations of global markets.
Central banks all over the world have a large part of gold, and recently the countries rushed to increase their gold reserves, for a group of factors, including increasing geopolitical tensions, and the beginning of cash dilution in the United States.
In recent years, the reputation of gold has strengthened as a safe origin through its performance, and investors seek a shelter to gold amid geopolitical uncertainty, especially among central banks in emerging markets and developing economies.
