Looking for the richest countries in Africa by Economy 2019? in this article, we will tell you the richest countries in Africa using their GDP.
Look: many have viewed Africa as a jungle, but that is not true. In many African countries, there are a lot of individuals who have and are living a luxurious lifestyle. some are among the richest people in the world
Top 11 Richest Countries In Africa By Economy
Without beating around, here are the top 11 richest African countries in Africa by their Economy.
11. Ghana (GDP: 47.3 Billion USD)
Ghana ranks 11th on the list of the richest countries in Africa. After it’s independence In 1957, Ghana became the first self-governing country on the African continent under president Kwame Nkrumah.
The Country Generates its source of revenue from bauxite, gold and Cocoa They are one of the largest gold producers in the world. and the second largest producer of the world cocoa.
10. Tanzania (GDP: 51.7 Billion USD)
10 on our list of the richest countries in Africa by Economy is the country of Tanzania.
The country is the second largest economy in East Africa. It is known to have the largest crabs in the worlds.
Ever heard of Mount Kilimanjaro? The popular mountain is located in Tanzania. It is said that every type of ecological system can be found on Mount Kilimanjaro.
Tanzania economy is dependent on Agriculture. The agricultural sector grew by 4.3% in 2012.
In as much Tanzania ranks among the 10th biggest economy in Africa, over 34% of Tanzanians currently live in poverty.
9. Sudan (GDP: 58.2 Billion USD)
Another is the country “Sudan” as it ranks our list of the richest countries in Africa by Economy.
97% of Sudan’s population are Muslims and do you know that Egypt gets noticed for its pyramids, but Sudan is known as the place with the world’s largest collection of pyramids.
The Sudan Economy is backed by Oil Production and Foreign Direct Investment.
World Banks Predicts that the country economy should grow by 4.3% Annually.
8. Kenya (GDP: 79.5 Billion USD)
Coming up our list of the richest African countries by Economy is Kenya.
Kenya is a country located in East Africa. one of the interesting fact about Kenya is that 85% of them are Christians.
The Economy of Kenya is based on agriculture, industries and services. Agriculture also employs over 75% of Kenya’s citizens.
Kenya is known around the world for its distance runners. Sadly Over half of the country’s population live in poverty.
7. Ethiopia (GDP: 80.8 Billion USD)
number 7 on our list of the richest countries in Africa by Economy, is Ethiopia. This is the only African country that has no colonial control.
In 1993 The Italian tried but fail. Ethiopian said “we waited until they had built us railways and nice buildings… and then kicked them out”
The Ethiopian Economy is a mixed economy backed by Agriculture as it contributes to almost half of Ethiopia’s gross domestic product
in 2018 CNN published thatEthopian economy is predicted to grow by 8.5% that year, According to IMF data.
About 105 million people in the country it is noted to be the second populated country in Africa after Nigeria.
6. Morocco (GDP: 109.8 Billion USD)
Right next on our list of the richest countries in Africa is Morrocco. Having over 36 million people living in the country.
One of the country sources of revenue is tourism, as tourism is one of the country’s most important economic industries.
with a GDP of 109 Billion USD, the country is the only country, that is not a member of the African Union.
5. Angola (GDP: 124.2 Billion USD)
Angola comes up as 5th position on our list of the richest countries in Africa by Their Economy (GDP)
After it’s independence in 1975 from Portugal, It ventured into a disheartened Civil Wall that lasted for 27 years, until 2002.
Irrespective of its bizarre history, the country is rich with oil and diamond and it is currently rebuilding.
World Bank predicts the countries economic growth to go by 1.2% in 2019 and 3.2% in 2020.
4. Algeria (GDP: 178.2 Billion USD)
Algeria is up as the 4th richest African countries by GDP. The country is the largest country in Africa by land area. but only 12% of its land is inhabited, as over 98% of the country is covered by the Sahara desert.
One Bizzare fact is that Algeria is the only African country that has no international debts.
The oil and gas sector is the country’s main source of revenues, generated about 70% of total budget receipts.
3. Egypt (GDP: 235.4 billion USD)
Egypt is one of the oldest civilization. Its economy is a centralized planned economy.
Cario is the financial capital of Egypt.
industries: textiles, food processing, tourism, chemicals, pharmaceuticals, hydrocarbons, construction, cement, metals, light manufactures
2.South Africa (GDP: 349.4 billion USD)
South Africa previously was the largest economy in Africa.
Due to corruption and marginalization, the country economic growth went down. But its currency purchasing power is still at the top.
South Africa is the 2nd richest countries in Africa and is noted as one of the emerging fastest developing countries in the world.
The country is blessed with Gold, Diamond and other natural resources.
one amazing fact about South Africa, unlike other African countries, is that it does not depend on one single source of revenue.
South Africa is an upper-middle-income economy according to World Bank
1. Nigeria (GDP: 405.1 billion USD)
Nigeria is said to be the Giants of Africa after it’s numerous impact in helping other African countries.
The country has a population of 186 million people. It ranks as the country with the highest population in African and 8 In the world.
Nigeria economic growth is majorly on Oil, the country is one of the largest oil-producing countries in the world.
Irrespective of its Oil, the Nigeria economy is also backed by communications, manufacturing, financial, service, technology and the entertainment sectors.
What do you think about our list? We will like to hear from you
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