List of African Countries with Highest Foreign Exchange and Gold Reserves
- The top ten African countries ranked by foreign exchange and gold reserves for 2026 revealed
- Libya leads Africa with $92.9 billion in foreign reserves, ranking 31st globally
- The World Gold Council lists Ghana, Mali, and South Africa as Africa's top gold producers
Legit.ng journalist Adekunle Dada has over 8 years of experience covering metro, government policy, and international issues
The top ten African countries with the highest foreign exchange and largest gold reserves in 2026 have emerged.
The Foreign exchange and gold reserves are assets in gold and foreign currency cash, usually in US dollars, held by a country's central bank.
Source: Twitter
According to the World Bank, these are assets that are primarily available to balance payments, influence the foreign exchange rate, and maintain confidence in financial markets, as well as stabilize the economy.
The reserve value is an indicator of the nation’s ability to repay its foreign debt while also strengthening its domestic economy, which in turn benefits the masses.
It is worth noting that the value of gold and foreign exchange reserves held by countries is not an indicator of their natural gold reserves, but the gold and foreign currencies held by their central banks.
As reported by TRT Afrika, the Global Firepower released the list of the top ten African countries with the highest foreign currency and gold reserves on the continent.
African countries with highest foreign exchange, gold reserves
- Libya 92.9 billion dollars…31st position globally
- Algeria 83.0..occupies the 33rd position worldwide
- South Africa 65.4..becoming the 38th in the world
- Egypt 44.9..ranked 44 in the world
- Nigeria 38.6…making it the 53rd globally
- Morocco 37.1
- Angola 14.2
- Kenya 10.1
- Tunisia 9.3
- Côte d'Ivoire 7.4
According to the World Gold Council, the top 5 gold-producing countries in Africa are Ghana, Mali, South Africa, Burkina Faso, and Sudan.
Source: Facebook
Naira rate hits new high against US dollar
Recall that the naira's good performance against the US dollar continued, and it is now trading below N1,400 in the official market.
Data from the CBN showed the naira gained N17.45, appreciating by 1.3% from Monday’s closing rate.
Nigeria’s external reserves also rose to $46.59 billion, thanks to improved FX supply and no need for CBN support.
Read more stories on foreign exchange reserve:
- Boost for Naira: Nigeria’s External Reserves Rise by $66 Million to Hit N46.11 Billion n4611-billion/
- Massive Boost for Naira as Nigeria’s External Reserves Rise to Highest Level in 8 Years
- Naira Breaks New Ground, Gains 3.6% as Foreign Investors Move Dollars into Nigeria
FG clarifies ownership of Nigeria’s first gold refinery
Legit.ng also reported that the federal Government clarifies Lagos gold refinery is a private-sector initiative, not government-owned.
Northern Elders Forum's claims about regional disadvantage dismissed as misleading.
The government emphasizes commitment to private investment and national economic self-reliance.
Source: Legit.ng
