Africa is a continent with a rich and varied culture, filled with natural resources like oil, natural gas, and diamonds. Its economy is growing rapidly, with 2022 being predicted as the year when Africa’s GDP will overtake that of China.
In this article, we take a look at the 20 richest countries in Africa as ranked by GDP.
Top 20 Richest Country in Africa
1. South Africa
South Africa is the richest country in Africa, according to Forbes list of the world’s richest countries by GDP. The country has a thriving economy thanks to its abundant natural resources and high population growth rates.
South Africa is ranked number one on the list with a GDP of $2 trillion. Other African countries that made the list include Algeria, Nigeria, and Egypt. The top five richest countries in the world are all Asian countries: China, Japan, India, South Korea, and Taiwan.
Egypt is the top richest country in Africa according to the Forbes List by GDP. The country has a GDP of $2.1 trillion, making it the sixth wealthiest country in the world.
Egypt is also one of the fastest growing economies in the world. Between 2011 and 2016, Egypt’s GDP grew by an average of 6.5%. This strong growth has helped the country achieve a high ranking on the Forbes List.
Egypt’s economic success is due in part to its strong industrial sector. The country has a number of strong industries, including tourism, oil production, and manufacturing. These industries have helped to make Egypt one of the wealthiest countries in Africa.
Nigeria has consistently been one of the wealthiest countries in Africa. It was ranked as the most wealthy country in Africa for the first time in 2018, and it is expected to maintain this position for many years to come.
The Nigerian economy is powered by oil and natural gas exports. These exports have made Nigeria one of the wealthiest countries in the world. In addition, Nigeria has a lot of other valuable resources, such as diamonds, gold, and agricultural products.
Nigeria’s GDP (PPP) was estimated at $1.34 trillion USD in 2018. This makes it the 7th richest country in the world by GDP. Nigeria’s growth rate is also very high, averaging 6% over the past few years. This growth has allowed Nigeria to increase its GDP significantly over the past few decades.
Angola is the richest country in Africa, with a GDP of $99.5 billion in 2016.
Angola is the richest country in Africa, with a GDP of $99.5 billion in 2016. This makes it the seventh-richest country in the world, according to Forbes’ 2017 list of the world’s richest countries by GDP. Angola’s wealth is mainly derived from its oil and gas resources, as well as its diamond mining industry. The country also has a thriving agricultural sector, thanks to its fertile soil and abundant water resources.
Senegal has been ranked as the richest country in Africa by GDP. The country’s economy is based on agriculture and services. Senegal also has a strong manufacturing sector.
The country’s GDP was estimated at $170.5 billion in 2017. This makes Senegal the tenth wealthiest country in the world. Senegal’s GDP growth has been impressive, averaging 5% over the past decade.
Senegal is a relatively young country, having gained its independence from France in 1960. It has made significant progress since then and is now considered one of the most stable countries in Africa. Its strong economy and leading role in African politics are testament to this.
Morocco is the top richest country in Africa and the 9th richest country in the world, according to Forbes. The country has a GDP of $478.5 billion, making it the ninth wealthiest country in the world.
Morocco’s economy is mainly based on tourism, oil production, and exports of gold and phosphates. The country also has a strong agricultural sector which accounts for about 20% of GDP.
The Moroccan government has put a lot of emphasis on improving the access of people to education and health care. It has also increased investment in infrastructure, such as airports and roads. These investments are expected to boost the country’s economy further.
Uganda has consistently ranked as one of the top economies in Africa. In fact, it was recently ranked as the richest country in Africa by GDP. This is due in part to its strong economic growth rate and its strategic location.
Uganda also has a very low population density, which makes it an ideal location for businesses. Its population is also young and expanding rapidly, which will continue to fuel economic growth. Uganda is also a democratic country with good human rights records. This makes it a desirable place to do business.
Overall, Uganda is a very prosperous country with strong economic growth prospects. It is located at a key location and has a young and expanding population that will continue to fuel economic growth.
Tunisia is the top richest country in Africa according to Forbes list of the world’s richest countries by GDP.
Tunisia has a growing economy and is ranked as the 34th wealthiest country in the world with a GDP of $194.9 billion in 2015. The country’s economy is based on tourism, manufacturing, and energy.
The country has been relatively stable since the Arab Spring and its government has made significant investments in infrastructure, education, and healthcare. These investments have helped to create jobs and boosted economic growth. Tunisia also has a low unemployment rate of 4%.
Kenya is the richest country in Africa, and it has been ranked as the most economically prosperous country on the continent by Forbes magazine. The reason for this success is Kenya’s strong economy and its ability to attract foreign investment.
As of 2016, Kenya’s GDP was estimated to be $187.5 billion. This is significantly higher than any other African country, and it puts Kenya at the top of the list of wealthiest countries in Africa. In terms of GDP per capita, Kenya is also one of the most prosperous countries on the continent. It has a GDP per capita of $11,000, which is much higher than any other African country.
The main drivers of Kenya’s strong economy are its mineral resources and its position as a destination for foreign investment. Kenya has significant reserves of iron ore, gold, diamonds, and other minerals. These resources have been used to create industries that generate jobs for Kenyans and Foreign investors alike.
Since 2000, Kenya has attracted a large number of Foreign investors, who have helped to revive the Kenyan economy. This influx of Foreign investment has helped to diversify the Kenyan economy and create new opportunities for Kenyans.
Ethiopia is the poorest country in Africa, but it has the second-highest GDP per capita.
Ethiopia’s economy has been booming in recent years, thanks to its increasing ties with foreign investors. The country has a number of valuable natural resources, including oil and natural gas. In addition, Ethiopia has a large population of young people who are eager to enter the workforce.
The government of Ethiopia is doing everything it can to promote growth and development. It has made significant investments in infrastructure and education. In addition, Ethiopia is working to increase its exports and attract more foreign investment.
11. The Democratic Republic of the Congo
The Democratic Republic of the Congo is the richest country in Africa, according to Forbes’ 2018 list of the top 10 GDP countries in the world. The country’s GDP was estimated at $397.3 billion in 2017. This makes it the sixth-largest economy in the world and the second-largest in Africa.
The Democratic Republic of the Congo is also one of the most diverse countries in the world. It has a population of over 77 million people, which makes it one of the most populous countries in Africa. This diversity contributes to the country’s high GDP figures, as there are many different businesses and industries that operate within the country.
Overall, the Democratic Republic of the Congo is an immensely wealthy country with a thriving economy. Its GDP ranks it among the top 10 GDP countries in the world, making it one of Africa’s most prosperous nations.
Zambia is the richest country in Africa by GDP. It has a GDP of $48.5 billion, which puts it at number 10 on the Forbes list of the top 20 wealthiest countries in the world. Zambia’s economic growth has been driven by strong exports and tourism. The country’s mining sector also contributes a significant percentage of its GDP.
Zambia has a population of about 23 million people, and its economy is dominated by services such as tourism, trading, and banking. The country also has a rich agricultural sector, which includes cotton, tobacco, and maize. Zambia is one of the poorest countries in the world, but its economy is growing rapidly thanks to its strong exports and tourism sectors.
Uganda has been ranked as the richest country in Africa by GDP. The country’s economy is booming thanks to its abundant natural resources and its growing population.
Uganda has a rich history dating back to the early 1900s. At that time, the country was known as British Uganda. After independence in 1962, Uganda became a republic and experienced several military coups. In 1986, the president of Uganda, Yoweri Museveni, came to power after a bloody civil war. Museveni has since held onto power through various elections, but he has also implemented some controversial policies, including a ban on homosexuality and the use of child soldiers.
Despite these challenges, Uganda’s economy is booming thanks to its abundant natural resources and its growing population. The country’s major exports include coffee, tea, gold, oil palm oil, and cotton. Its major sources of revenue include taxes and fees from exports, tourism, and remittances from expatriate Ugandans living abroad.
Uganda is a landlocked country located in East Africa. It has a population of over 36 million people and an area of about 102,000 square kilometers (39,000 square miles).
Madagascar is the richest country in Africa. It has a GDP of $52.5 billion, which places it at number one on the Forbes list of the top ten richest countries in Africa.
Madagascar’s economy is based largely on tourism and exports of commodities such as vanilla, gold, and nickel. The country also has a strong agricultural sector, which is responsible for about a quarter of GDP.
Madagascar’s long history of political instability has hindered economic development. However, the country is making progress in terms of improving infrastructure and attracting investors. In recent years, there has been significant investment in renewable energy, which is expected to play an important role in the country’s future economy.
Malawi is ranked as the poorest country in Africa by GDP, but it is also the richest country in Africa according to Forbes list.
Malawi has a population of over 19 million people and an annual GDP of only $6.5 billion. However, this small country is home to some of the world’s richest people, including President Bingu wa Mutharika and business magnate Richard Branson.
According to Forbes, Malawi’s wealth is generated largely from its agricultural sector, which accounts for 60% of its GDP. The country is also a major producer of tobacco, coffee, and sugar. Malawi’s mineral resources include diamonds, gold, and zinc.
Despite its poverty, Malawi has made significant progress over the past few years. The country’s economy has grown by an estimated 7% each year for the past three years, making it one of the fastest-growing economies in Africa. This growth is due in part to President Mutharika’s efforts to promote investment and entrepreneurship in Malawi.
Mozambique is the richest country in Africa, and it has been ranked as the best performing African country in terms of GDP growth. The country’s economy is based largely on agriculture, which accounts for about 60% of its GDP. Other important sectors of the economy include mining, manufacturing, and services.
Lesotho is also a very rich country, with a GDP of $21.5 billion as of 2016. The main sources of income are forestry and tourism. Lesotho is one of the world’s leading producers of hardwoods and exports over 60% of its forestry products. Tourism is also an important sector, with visitors spending over $1 billion each year.
Swaziland is another very wealthy country, with a GDP of $9.2 billion as of 2016. The main sources of income are sugar, gold, and tobacco. Swaziland also has significant deposits of nickel, uranium, and iron ore. The government has put in place a number of policies to encourage investment and development in the country.
Botswana has a GDP of $34.3 billion as of 2016. The main sources of income are mining, agriculture, and tourism. Botswana’s main exports are gold, diamonds, platinum, and chrome. The country also has significant reserves of other minerals, including coal, iron ore, and copper.
Namibia has a GDP of $14.5 billion as of 2016. The main sources of income are mining, agriculture, and tourism. Namibia is one of the most mineral-rich countries in the world, with deposits of silver, copper, gold, and diamonds. The country also has significant reserves of oil and gas.
These are the list of 20 richest countries in Africa.
For more information on the GDP of these countries, as well as other economic statistics, please visit the website of the World Bank.
If you are interested in traveling to any of these countries, please consult a travel agent or visit the website of the Department of Foreign Affairs and Trade (DFAT) for information on visa requirements and other practical matters.