Africa’s Wealthiest King Leads $750 Million Investment To Boost Gold Production

The investment comes as gold prices have reached a historic high. As of April 6, 2026, the live spot price for gold is hovering around $4,670-$4,690.

Morocco’s King Mohammed VI, Africa’s wealthiest monarch with an estimated net worth of $5 billion, is leading a $750 million investment to boost gold production on the continent. Morocco-based Managem Group, owned by Al Mada, the royal family’s office under King Mohammed VI, has committed the multimillion-dollar investment to increase gold production by 134% by 2030.

According to Business Insider Africa, Managem Group is planning new developments in Gabon and Guinea. Currently, the organization operates in eight African countries, with flagship projects including the Gabgaba gold project in Sudan, the Pumpi copper-cobalt project in the Democratic Republic of the Congo (DRC), the Eteke gold project in Gabon, and the Boto gold project in Senegal.

The company is also advancing gold mining projects in Morocco, Guinea, and the Ivory Coast, to strengthen its position as a major player in Africa’s mining industry. Currently, the gold market has a valuation exceeding $10 billion.

The investment comes as gold prices have reached a historic high. Managem’s gold production increased by 26% in 2025, thanks to a 44% increase in global gold prices, which averaged $3,445 per ounce. As of April 6, 2026, the live spot price for gold is hovering around $4,670-$4,690.

Silver also reportedly rose 18%, reaching $40 per ounce. Managem is projected to exceed $2 billion within the next two years, driven by higher production and sustained gold prices.

While there have been some market fluctuations, JPMorgan forecasts that gold could rise to $6,300 per ounce by the end of 2026, supported by central bank buying and lower U.S. interest rates.

“Gold prices have set new records in 2025, driven largely by global central bank purchases. We expect this trend to accelerate and broaden as investor participation increases,” said Whitney George, chief executive officer of the global asset manager Sprott. The company focuses on investing in precious metals and critical materials.

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