Gold is an extremely rich natural resource which never loses value or depreciates. This is why many people and countries engage in the buying and selling of gold because of its appreciation value. Mere ownership of gold even as an accessory increases the net worth value of an individual as it is considered an asset. Many countries around the world have this precious resource and African countries are of no exception. Developed countries which have this natural resource have been mining it for centuries and utilizing its value, however, some African countries have also begun harnessing the great value of gold mining in sale and exportation, while some still continue to sit on the massive revenue and wealth creation value this precious asset possesses. Here are 5 of Africa’s top countries rich in gold:
- South Africa has been long known as the largest producer of gold in Africa. Its gold mining operations started in the 1880s when gold was first discovered in Witwatersrand area in the Gauteng Province which led to a gold rush in the area and the discovery of many more gold harbors.
- Ghana is known as Africa’s second largest producer of gold. It has a number of mines located in different areas which are actively involved in gold mining.
- Tanzania also hosts a number of gold mines which is increasingly gaining global recognition and stands as a huge potential to continue being among Africa’s leading gold producers.
- Mali possesses three major mines well-known when it comes to gold mining, namely; Morila Gold Mine, The Sadiola Gold Mine, Yatela.
- Nigeria is a country also rich in gold which can be found in various states mainly in the Northern part of Nigeria such as Jos and Kaduna states, and Iperindo in Osun State.
One sure fact is that these countries among the several others which have vast gold resources and reserves will continue to produce millions of ounces in the years to come, and it is time for these major gold producers to start harnessing its value in greater quantity and utilize it in Africa’s economic growth. It is sad to realize that Africa is richly blessed with so many resources which could change the whole continent but yet still remains underdeveloped.
Olatorera Consultancy Limited provides business development services to high net-worth individuals and companies looking to grow, enter or do business in Africa.