According to the African Trade Report 2024 by Afreximbank, Africa’s foreign assets grew by 2.6% to reach $411.9 billion in 2023. This increase, following a contraction in 2022, is attributed to strong demand for commodities, sustained investments, and rising remittances. The appeal of gold as a safe haven is intensifying, with countries like Madagascar and Nigeria bolstering their reserves through this asset.
