Morocco’s king Mohammed VI funds $750 million gold project across Africa

Africa’s gold sector is set for a major expansion after Morocco’s King Mohammed VI, widely regarded as the continent’s wealthiest monarch, backed a $750 million investment to increase production across several countries. The plan, led through mining company Managem Group, is expected to raise gold output by 134 per cent over the coming years.

The investment will support operations in at least five African countries, including Sudan, the Democratic Republic of Congo, Gabon, Senegal and Guinea. These projects form part of a wider effort to strengthen mining activity and increase production capacity across the region.

Managem, which is owned by the Moroccan royal investment fund Al Mada, reported that gold production stood at around 213,000 ounces in 2025. The company now aims to reach approximately 500,000 ounces annually by 2030. This increase reflects both the expansion of existing mines and the development of new sites.

Expansion across multiple mining sites

The company’s strategy focuses on improving output at several key locations while continuing exploration work in areas with untapped reserves. Some projects are already in operation, while others remain in earlier stages of development.

In Sudan, Managem operates the Gabgaba gold mine, which has been one of its primary sources of production. The company has also expanded into the Democratic Republic of Congo, where it is developing the Pumpi project. Additional activity in West Africa includes operations in Senegal and Guinea, both of which have established mining sectors.

Gabon, which is not traditionally known as a major gold producer, is also included in the company’s plans. The expansion there reflects a broader effort to identify new areas for extraction as demand for gold remains steady.

Production targets and timelines

The 134 per cent increase in output is expected to take place gradually, with most of the growth occurring before the end of the decade. Managem has indicated that the expansion will involve both increasing efficiency at current sites and bringing new projects into production.

Gold remains a valuable export across many African economies, and higher output could contribute to government revenues in the countries involved. However, the extent of this impact will depend on factors such as global gold prices, operating costs and political stability in each location.

Role of royal investment

King Mohammed VI’s involvement comes through Al Mada, one of Africa’s largest private investment funds. The group has interests in a range of industries, including banking, telecommunications and energy, but mining remains a significant part of its portfolio.

Managem has been active across Africa for several decades, building partnerships with governments and local operators. The current investment represents one of its largest commitments to gold production in recent years.

While the king’s personal wealth is often cited in reports about the deal, the investment itself is being carried out through corporate structures rather than as a direct personal purchase.

Economic and regional implications

The expansion is likely to create jobs in mining regions, particularly during the construction and development phases of new projects. Local supply chains, including transport and equipment services, may also benefit from increased activity.

At the same time, mining projects of this scale often face challenges. Infrastructure, regulatory requirements and security concerns can affect timelines, especially in countries experiencing political instability. Sudan and parts of the Democratic Republic of Congo, for example, have both faced ongoing conflicts that could complicate operations.

Environmental considerations will also play a role. Gold mining can have significant impacts on land and water resources, and companies are expected to meet national regulations and international standards when developing new sites.

Outlook for the sector

The planned increase in production highlights the continued importance of gold mining in Africa. The continent holds some of the world’s largest untapped reserves, and companies are seeking to expand operations as demand remains consistent.

Managem’s target of 500,000 ounces per year would place it among the larger gold producers operating in Africa. Whether that goal is achieved will depend on the successful development of projects across all five countries, as well as stable operating conditions.

For now, the $750 million investment signals a clear intention to scale up production and strengthen the company’s position in the sector, with the backing of one of Africa’s most prominent investors.