Gold played a major role in strengthening Egypt’s external position over the past fiscal year, as the country’s international reserves climbed to a record high of $51.45 billion.
The performance reflected broader global gold market trends and highlighted Egypt’s growing reliance on precious metals as a hedge against economic uncertainty.
In 2025, the Central Bank of Egypt (CBE) recorded a 71% year-on-year increase in the value of its gold reserves, marking a significant milestone.
By the end of December, the market value of gold held in Egypt’s vaults had risen to $18.166 billion, signaling a deliberate strategy by Cairo to shield its reserves from global volatility.
Gold acted as a key buffer during periods when liquid foreign currency balances fluctuated, helping prevent a decline in overall reserves and making the increase more than a nominal gain.
According to Egypt Independent, the two main factors that drove this achievement include the steady rise in global gold prices and the CBE’s proactive decision to add 79,600 ounces of gold to its holdings over the course of the year.
Data released by the central bank showed that total international reserves rose by $1.236 billion in December alone, pushing the overall balance to its highest level on record.
Most of the increase came from gold, which contributed $914 million, while liquid foreign currency assets rose by $327 million to reach $33.23 billion.
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Gold’s strong performance also contributed to rising personal fortunes among some of Egypt’s wealthiest individuals. In October, reports showed that Egyptian billionaire Naguib Sawiris became the richest person in North Africa, following earlier announcements that he planned to invest $50 billion in U.S. real estate.
Sawiris’s net worth increased from $8.69 billion at the start of the year to $9.88 billion by October, largely driven by higher gold prices.
His investment firm, La Mancha, announced at the time that it had increased its stake in Greenheart Gold Inc. by 2 million shares, bringing its total holding to about 5%. As of October, La Mancha’s investment portfolio was valued at $2.44 billion.
The Egyptian billionaire also holds significant stakes in Endeavour Mining and Evolution Mining.
The companies reported combined production of 751 kilograms of gold and 76 kilograms of copper during the first three quarters of 2025, figures that were within their stated guidance.
According to Evolution, the company recorded quarterly and annual cash flows of $308 million and $787 million, respectively.
Capital Brief reported that Evolution also generated record operating mine cash flow of $697 million in the third quarter of 2025 and $2.288 billion for the fiscal year leading into the fourth quarter of 2025.
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Image Credit: Tesaa World
