Libya Ranks Third in Africa for Largest Gold Reserve

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Libya has secured the third spot for the largest gold holdings in Africa in 2023.

The country boasts an estimated 117 metric tons of gold reserves, solidifying its economic standing on the continent.

Leading the pack among African nations is Algeria, with an impressive 174 metric tons of gold reserves. Following closely behind is South Africa, claiming the second spot with 125 metric tons.

Meanwhile, African countries have been proactive in bolstering their gold reserves, a move that has positioned them favorably during times of global political and economic instability.

These efforts demonstrate their commitment to fortifying their economies and safeguarding against potential uncertainties.