- Libya tops Africa with over $92 billion in reserves, driven by strong oil earnings despite political instability.
- Algeria follows with $81 billion, boosted by high energy prices and tighter import controls.
- South Africa holds $62.4 billion, benefiting from a diversified economy and robust banking system.
- Nigeria ranks fourth with $41.3 billion, supporting economic adjustments and currency stability.
Africa’s financial landscape is evolving, and foreign reserves are a key measure of a country’s economic strength. In 2025, Libya, Algeria, and South Africa lead the continent with the largest reserves, while Nigeria, Morocco, and Kenya are steadily climbing. These reserves, made up of foreign currencies and gold, provide crucial support for currency stability, economic reforms, and investor confidence across Africa. Below is the ranking of African richest countries:
1. Libya
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Libya remains Africa’s leading economy in terms of foreign reserves, holding more than $92 billion. Despite years of political unrest, oil revenues continue to generate significant foreign currency inflows. Limited imports due to domestic challenges have helped maintain these reserves, providing a vital economic buffer.
2. Algeria
Algeria follows with reserves exceeding $81 billion. The country relies heavily on hydrocarbons, but recent policies such as reducing external debt and tightening import regulations have strengthened its financial standing. This reserve cushion is critical for managing social and economic pressures.
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3. South Africa
South Africa’s reserves of $62.4 billion reflect its diversified economy and advanced financial infrastructure. The country’s strong banking system and liquid markets make it a key financial anchor in Africa, offering stability during global uncertainties.
4. Nigeria
Nigeria holds $41.3 billion in foreign reserves, supporting the nation’s economic growth and currency stability. As Africa’s most populous country and a major oil exporter, these reserves play a vital role in offsetting fluctuations in oil revenue and meeting import demands.
5. Morocco
Morocco’s reserves of $36.3 billion benefit from tourism, remittances, and key export sectors such as automotive and agriculture. Exchange rate flexibility and proactive monetary policies have also strengthened the country’s external balance.
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6. Egypt
Egypt ranks sixth with $33.07 billion in reserves. Economic reforms, supported by international lenders, help maintain financial stability despite ongoing debt and import pressures.
7. Angola
Angola holds $13.9 billion in reserves, with the oil sector dominating exports. Fiscal discipline and rising oil prices have contributed to a gradual increase in reserves, supporting efforts to diversify the economy.
8. Tunisia
Tunisia’s reserves of $9.24 billion have remained stable thanks to international support packages, currency controls, and initiatives in tourism and agriculture, even amidst political and economic challenges.
9. Ivory Coast
With $7.58 billion in reserves, Ivory Coast, the world’s top cocoa producer, has benefited from strong exports of cocoa, cashew, and oil products. Regional monetary stability further supports its reserve levels.
10. Kenya
Kenya rounds out the top ten with foreign reserves strengthened by mining discoveries, ICT, and financial services. The $5.29 billion gold find at Kakamega County bolsters reserves and provides room to manage currency shocks.
