top 50 richest countries in africa
His primary businesses include cement, sugar and flour. Follow me as I take you on a tour through the top 5. With less than 2 million people, Eswatini is heavily dependent on subsistence farming. This country is blessed with crude oil reserves and its economy relies solely on them. The then president (Gadaffi) has really to see stable and good economy been witnessed by the citizen today. ThingsToKnow is your number one source for all skills and knowledge about life. With world class infrastructure, a developed economy, and a GDP of close to $360 Billion, South Africa is ranked as one of the fastest-growing countries in the world. Seychelles. With an economy based heavily on mineral mining and exportation. Welcome to Africa, the 2nd largest continent in the world in terms of land mass. The industrial sector accounts for about 45% of the country's GDP. Your email address will not be published. Ghana’s growing economy is largely achieved through years of sound management, a positively competitive business environment, and sustained reductions in poverty levels. In addition to all that, they benefit greatly from their exports. This has increased the GDP of this small country but in stature and economy well developed. Right from the days of Pharaoh, this nation has continued to remain a rich nation till date. . This country has diversified their revenue sources, that they make a steady revenue from different sectors. With a properly diversified economy, SA is one of the countries with the most developed economies on the continent. Equatorial Guinea - $34,865. As a country who has no seaport, where goods can be imported or exported by sea, this has placed them at the 10. position, as this country believes in economic diversification but due to natural phenomenon. By. In recent decades, India, […] On that note, and in an attempt to focus on the positive, here are the top ten richest countries in Africa. Ranges from Hollywood, music industry, textile industry, the production rate of raw material in top notch was recorded, this has added value to their gross domestic point and this places them in the top list of the richest Africa countries. Africa’s Top 10 wealthiest countries ranked by GDP. GABON. This country has such a huge GDP as a result of a perfect combination of their mining, tourism, financial services, and manufacturing. This country as small as it is, it is having the most stable, and best economy in the whole of Africa, this is own to her well-planned income from abroad, a well-structured and less corrupt countries, her citizen enjoy the benefit of good government and respect to that, they work more on fishing in which they are taking the advantages of Indian ocean close to the country, fish has been exported overtimes in which this is putting smile on their GDP on yearly basis. Cote d’Ivoire – $3513.7. As part of the good economy experienced by the citizens, the rate of unemployment is at its lowest and barest minimum. Owing greatly to the exportation of oil and better management than most African countries. All the countries in this list grow at a very fast rate and they are well predicted to compete in top spots as world richest countries in the future. ALIKO DANGOTE – NW: $21.6 BILLION. This is said to be one of the fastest movements in Africa. This has increased the GDP of this small country but in stature and economy well developed. Africa is one of the richest continents in the world in terms of land-soil, favorable weather, and many more, but has rich as the continent is, its totally different story to most countries as Africa serve has to site for some of the poorest countries … As beautiful as this country is, it also acts as center of tourism to many outside the shore of the country. Your email address will not be published. With a population of only 92,000, it has the tiniest population of any country in Africa. MAURITIUS. Ghana is a country that is filled with so many natural resources. The country has a GDP of about $11,528. At the first position is Seychelles which is an archipelago in the Indian Ocean with a population of 99,847 citizens. The cost of living is comparatively high. Egypt remains one of the oldest nations in Africa. Africa remains the Undeveloped and poorest continent. Dangote is the richest person in Africa and the only African on the list of top 50 richest in the world. His ... Johann Rupert – NW: $7.3 Billion. A Brand of Solorosco Web Service Solutions, (BN: 2741177). Following the fall of oil price in recent times, the economy of Algeria has been affected, but they still remain one of the richest countries in Africa. North Africa has long been closely linked to the economies of Europe and the Middle East. They came in 12th on this list. Owing all its economic powers to the mining and exportation of diamonds, Botswana is the second largest diamond producer in the world. Africa is not entirely backward because of the presence of some countries. Known for their oil, Angola is the second largest oil producer on the continent. Due to the result of poor management and corrupt practices, Botswana GDP fell to the least and ranked them the poorest country some years back, as a result of change in government, less corrupt practices, deliberate use of manpower in a manner of generating more income, natural deposit of coal which serves as raw material for diamond, has placed this country at a focal point of the most rapid and fast-growing nation with a good practices. This makes Nigeria the largest exporter of oil in Africa as a whole. Ranking of the Richest Countries In Africa Based On GDP Per Capita. Top 10 Richest Countries In Africa. With so much raw materials, this country can feature higher. Petroleum accounts for 50% of foreign exchange in Ghana. Dangote is the richest person in Africa and the only African on the list of top 50 richest in the world. Officially called the Republic of Cabo Verde, this little nation is located in the mist of the Atlantic Ocean. If you are looking for the richest countries in Africa, then you are reading the right post. A detailed list of the current top 20 poorest countries in Africa. Aside from being one of the oldest countries in Africa, Ethiopia also makes it to the list of richest countries on the continent. Other major products in the export sector are products like cut flowers, legumes, and oily seeds. Africa is a very rich continent in landmass, natural resources and human resources. In first place in the list of richest countries in Africa, we have Nigeria (aka The Giant of Africa). With an economy based heavily on mineral mining and exportation. ... you won’t find China anywhere on this GDP-per-capita list of the top 50 economies in the world. Developed countries and neighboring Africa countries have been hovering around this country due to her inherent deposit of natural resources, her GDP has been increased owing to large shares and finances coming from countries outside Africa to invest in the oil and gas business in this country, which Is more predominate among the top Africa Countries. The coastal waters of the nation are extremely rich in fish, even though the foreigners often exploit these waters and it threatens the rise of income for Mauritania. This country primarily depends on livestock and agriculture, which is why it reached the high place in our richest country in Africa rating. With a current GDP that is just slightly below $450 Billion, Nigeria sits firmly as the richest country in the Africa. After their civil war ended in 2002, they have continued to take major steps towards the growth of their economy. This is actually one of the African countries with the biggest reserves of natural resources. Required fields are marked *. The GDP figures highlighted below were been extracted from the International Monetary Fund (IMF) World Economic Outlook in the fourth (4th) quarter of 2018 and projections made by the World Bank for 2019. Today, some African countries have even managed to appear in lists of the richest countries in the world. South Africa boasts of developed tourism, mining, media and agricultural industries. This country has done more exploit in the textile industry, a well-structured and good-looking environment which was pre-planned and well-organized plans of the government to make available environment and country attracted to investors, which is undoubted has added to the value of this nation in every retrospect. With a predominantly white population, Egypt is located at the northeast corner of Africa. The people of Swaziland is engaged in the cultivation of tobacco, corn, sugarcane, cotton, pineapples, rice, and many more. 90% of Angola’s revenue in the sector of exportation comes from crude oil. On the fourth position in the list of richest nations in Africa, we have Algeria. 5. Namibia sits in Southern Africa. Richest People In Africa. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window). © 2020 ThingsToKnow Media Publishing™ - All Right Reserved. The list contains all the 54 countries in Africa. top 10 richest african countries in 2020 ranked by gdp & primary exports Here we discuss the 10 wealthiest countries in Africa 2020 and the nature of their economies. Media and tourism have been the major focal point of many governors in the country, the accommodating and amazing parks, natural artifacts, tourist center have driven more revenue to the country. With a very vibrant economy making over $100 billion in gross domestic value, Tunisia is the 13. on this list of richest countries in Africa. He is the son of the former president of the county Omar Bongo. This list uses the GDP at Purchasing Power Parity, as per the CIA World Factbook in 2012, to rank these African countries by wealth. Today, Kenya is one of the most famous countries in East Africa. Top 50 Richest Countries In The World 2020 – New year started with most individual tagging it as their year of success but what most people fail to realize is a successful nation is a product of the people in it and vice versa, hence the reason why a country with a thriving economy is most likely to produce affluent individuals. We are dedicated toward providing you with the best of life skills, with a focus on Idea, knowledge and many more. Africa is green but incomplete without the desert to the north. NASSEF SAWIRIS – NW: $6.1 BILLION. Predominantly among the leaders of most countries are those that have less or no qualification in resources management and related field more reasons most Africa countries has been stagnated and unable to diversify the economy. Details of top 10 richest countries in Africa. Read more on about us page for details. In second place in the list of richest countries in Africa, we have South Africa. How often do you ask Which country is the poorest in Africa? A country with a population of more than 200 million citizens, Nigeria is an essential part of Africa’s economy. Abundant with natural resources like gold and internationally known as the 2. largest producer of cocoa, Ghana’s economy has over time survive the attack the world economic forces are pulling on her due to her large area of investment, conducive environment for investors, reduction in the rate of corruption, Ghana was recorded to be one of the Africa countries that is less corrupt. Here are the Richest countries in Africa. There are large deposits of iron ore in Mauritania, and the country often exports them abroad. Egypt has such a huge GDP as a result of their natural gas exports, Real estate, construction, Petroleum, and more. 4. Arguably Africa’s most developed nation, Mauritius is the second richest African nation. Full of many cultures, traditions, and interesting languages, Africa is home to the majority of black people in the world. Aliko Dangote – NW: $21.6 billion. RICHEST PEOPLE IN AFRICA. Agriculture owns a reasonable share of their GDP. Apart from being one of the richest in Africa, Algeria is also the biggest country on the continent. With a few populations, Equatorial Guinea is a country leading other Africa country excluding Seychelles in term of economic stability and GDP per capita. Furthermore, its the richest country in Africa per capita gdp in 2020. Nicky Oppenheimer – NW: $6.8 Billion. This ancient country is the place where coffee beans originated. This country has a diverse stream of revenue, and this makes them one of the wealthiest countries in the continent. Please enter your username or email address to reset your password. As a matter of fact, crude oil and natural gas account for a whopping 70% of the total GDP of Algeria. With a statistics of 54 known countries and a population of over 1.2 billion, it is regarded as the second largest continent in the world.After a thorough check of each country’s Gross Domestic Production (GDP), a list of 20 of the wealthiest countries in Africa was deduced. Fossil fuels are adopted in biogas and as a result of different countries working tirelessly on how to generate power from fossil fuels and biogas, the demand for this has been high which pave way for the economic growth of the country. Plagued with an ever-rising population, the Nigerian economy has failed to properly diversify from the influence of oil exploration and exportation. Equatorial Guinea is the … With more than 28 million people living within its borders, Ghana is one of the most populated African nations. Topping our list for the first time is a small island located in the Indian ocean. With more than 28 million people living within its borders, Ghana is one of the most populated African nations. Seychelles - $28,172. The GDP of Mauri… In this post, we are going to look at the top 10 Richest countries in Africa. Namibia is the world’s largest producer of uranium. His ... JOHANN RUPERT – NW: $7.3 BILLION. From the list above, you can confirm that Africa is indeed filled with several rich nations. Top 10 Richest Countries in Africa 2020 Forbes. With inputs from diamond exportation and with a population of fewer than 3 million people. Today, almost every country in Africa utilizes its natural resources to the fullest. Aside from being the richest country in Africa, Nigeria is also the most populous African nation. Seychelles is a home and destination of tourists from all parts and corners of the world. Ali Bongo Ondimba ($1 billion) Ali Bongo Ondimba is the president of Gabon and among the top richest presidents in Africa. JOHANN RUPERT – NW: $7.3 BILLION It is actually made up of around 115 small islands. With a GDP that is already almost clocking $100 Billion, Kenya sits as the sixth richest nation in Africa. 3. Without wasting time, let us go through the list of the top 10 Richest countries in Africa. Wizkid and Davido: Who is The Richest Based on Net Worth 2020. With so many technophiles, the technological sector of Nigeria is indeed experiencing some improvements over the recent times. Finally, below are the top 20 richest African countries in terms of GDP per capita. They have established a stream of endless revenue from the agricultural sector, as well as a few other sectors. They export products like electrical tools, vehicles, and more. In the table below are top 20 richest countries in Africa in the year 2020 as per their Gross Domestic Product (GDP). A purposeful and well-mined exploration of the gift of nature deposited into this country has helped the economy of the country. More also, with beautiful artifacts, cool and nice serene has helped the country to attract tourist which is adding value to their GDP. His company Dangote Group is currently on an expansion drive to many other African countries. Although the Kenyan economy is not built around natural resources like oil or gold, they are still one of the richest African countries with a diverse revenue stream. Aside from this, South Africa is also blessed with gold, coal, diamond, iron ore, platinum, and a few other natural resources. Tags: Top 50 Richest Countries In Africa Based On GDP Per Capita, Your email address will not be published. The agricultural sector handles a whopping 35% of the total GDP of Kenya. In this article, we are going to look at these rich African countries, and how much their Gross Domestic Product (GDP) worth. One of the luckiest nations on the continent, Equatorial Guinea “third on our list of richest countries in Africa” is a small nation with a small population with a large oil reserve. The major source of this country has lie solely on the exportation of oil and its derivatives. Fossil fuels are adopted in biogas and as a result of different countries working tirelessly on how to generate power from fossil fuels and biogas, the demand for this has been high which pave way for the economic growth of the country. Population density which always served as a deterring factor to economic growth was totally absent in Namibia, production of raw material for nuclear equipment, explosive and other ammunition, in which most developed countries invest in preparation for III world war. For the longest time, the country has been at the top in terms of GDP output. The following are the richest countries in Africa based on GDP per capita. 2. Nassef Sawiris – NW: $6.1 Billion. So, which country is the richest in Africa? Located in the northern parts of the continent, Algeria has the second-best economy in the region. This puts them at number four on this list of richest countries in Africa. SA was Africa’s largest economy until it was recently displaced by Nigeria. Ghana is one of the richest countries in West Africa. As we all know, Africa is naturally blessed with countries that are rich in natural minerals. The Central African nation is relatively small, with a population of little more than 1.2 million people and a landmass covering 10,830 square miles. Interesting fact about Africa, in one of the countries in Africa we have the world 5th richest man, richest woman in the world, best players just to mention in few. The 50 Richest Countries in the World. There’s not much to say about this north African nation. 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