You must know about how many richest country in Africa mainland. According to the UN’s World Economic Situation and Prospects report, African economies are the youngest in the world and are expected to grow by double digits until 2030. The beautiful continent of Africa is blessed with abundant natural resources, raw materials, precious metals, and fertile soil. The continent is home to some of the poorest countries in the world. Yet despite its vast size, it is home to some of the wealthiest nations. In this post, we will look at the richest country in Africa.
List Of 10 Richest Country In Africa
In the following list of the richest country in Africa, here I mention 10 African country name which is rich.
- Nigeria
- Ethiopia
- Egypt
- Ghana
- Ivory Coast
- Kenya
- South Africa
- Morocco
- Angola
- Algeria
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Top 10 Richest Country In Africa
Let’s take a look at the economic status of the continent with a list of the richest countries in Africa.
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Nigeria
Why is nigeria the richest country in africa?
Nigeria is the largest economy in Africa with huge oil reserves and a large population. Nigeria is the 27th largest economy in the world in terms of nominal GDP and the 24th largest in terms of purchasing power parity and accounts for 15.6% of Africa’s total economy. According to the World Bank, Nigeria’s gross domestic product is expected to grow by 3.4 percent in 2021, making it Africa’s fastest-growing economy.
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Ethiopia
Ethiopia is the fastest-growing economy and the richest country in the world. Ethiopia is an emerging economy with a potential market of nearly 115 million people. In 2017, Ethiopia became the richest country in Africa with a per capita income of $936.34. According to the United Nations, Ethiopia is on the way to self-sufficiency in food production.
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Egypt
Egypt wins out as the richest country in Africa by GDP for 2021. With a population of 104 million, Egypt is the third-most populous country in Africa. Egypt is also a mixed economy in tourism, agriculture, and fossil fuels, with an emerging information and communication technology sector. The economy is dependent on agriculture, but exported $2.74B in crude petroleum.
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Ghana
The West African nation of Ghana is known for many things, including its rich history and the beautiful beaches it has to offer. But what makes Ghana special are its people, whose ingenuity and hard work have made it Africa’s most successful economy. Ghana is the richest in Africa with a GDP of $72.35 billion.
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Ivory Coast
Ivory Coast is the richest country in Africa and also has the fastest growing economy in Africa, adding 1.8% per year and the richest country in Africa per capita. Its largest city, Abidjan, has the highest GDP per capita in sub-Saharan Africa and has attracted many Fortune 500 companies to the free trade zone.
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Kenya
It is not surprising that Kenya has emerged as the richest country on the continent. It is one of only six countries in sub-Saharan Africa that has achieved high growth and economic development in recent years. With a population of 53.77 million, Kenya is East Africa’s largest economy and had an annual GDP of $106 billion last year.
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South Africa
South Africa is currently the country with the highest GDP per capita and is one of the richest country in Africa by natural resources. South Africa has a gross national income of 703.8 billion PPP dollars and a GDP per capita of 301.9 billion. Soothe Africa’s economy is dominated by mining, with gold being its most valuable export commodity.
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Morocco
With a population of 36.91 million, Morocco is the largest country in Africa. The country is home to a rich culture with a mix of influences from Arabic, French, Berber, and European cultures. According to the World Bank, Morocco ranks 7th out of 182 countries worldwide for literacy.
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Angola
Angola is the second largest oil producer in sub-Saharan Africa. Its main source of income comes from oil which accounts for 75% of government revenue and 37% of. The rest of the national economy is mainly dependent on exports of crude oil, iron ore and copper, and mining. However, Angola ranks 29th out of 47 countries in the sub-Saharan Africa region.
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Algeria
With a population of only 43.85 million, Algeria is the largest economy on the African continent. Despite its relatively small population of 44.9 million, Algeria ranks 34th and exerts considerable influence on African affairs. Ageria’s economy is mainly dependent on hydrocarbons and manufacturing, which account for about 60% of GDP, and is the richest country in Africa with mineral terms.
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FAQ
Who Is The Richest Man In Africa 2022 Top 10?
Aliko Dangote ($18.5 billion): He is Africa’s richest man, with a current net worth of $18.5 billion.
Which Country Is Poorer In Africa?
Eritrea – $510. Central African Republic – $510. Liberia – $530. Niger – $540.
Which Country In Africa Is The Richest 2022?
Top 12 Richest/Wealthiest Countries in Africa 2022. 1. Nigeria – $514.05 Billion GDP: Nigeria, with its vibrant cultural legacy, diverse ethnicities, natural beauty, and vast population, remains Africa’s wealthiest country and the continent’s top producer in terms of GDP output.
Which Continent Is The Richest?
North America has the highest continental gdp per capita by both GDP Nominal and PPP in the world. With $46,160 in nominal terms, the per capita gdp of North America is 376% of the world GDP per capita. North America is closely followed by Oceania ($44,741).
Which Is The Poor Country In Africa?
Based on the per capita GDP and GNI values from 2020, Burundi ranks as the poorest country in not only Africa, but also the world. The second-poorest country in Africa, Somalia, holds the same distinction. In fact, this pattern carries through much of the list.
Conclusion
Today we shared the details about the country in Africa and I explain to you what is the richest country in Africa and why are they rich. African economies will reach a GDP of $29 trillion by 2050, playing a major role in the global economy. According to the World Bank, Africa has one-sixth of the world’s natural resources. After all, the richest countries in Africa are those where wealth is generated within the country. I hope you enjoy reading this article and that you get sufficient details about the richest country in Africa.
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