North Africa has long been closely linked to the economies of Europe and the Middle East. Nicky Oppenheimer – NW: $6.8 Billion. Full of many cultures, traditions, and interesting languages, Africa is home to the majority of black people in the world. However, due to political instability in Nigeria, the GDP is experiencing some slow movements in recent times. Seychelles. Apart from being one of the richest in Africa, Algeria is also the biggest country on the continent. So, which country is the richest in Africa? The cost of living is comparatively high. Dangote is the richest person in Africa and the only African on the list of top 50 richest in the world. Wizkid and Davido: Who is The Richest Based on Net Worth 2020. 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. 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 inputs from diamond exportation and with a population of fewer than 3 million people. RICHEST PEOPLE IN AFRICA. As part of the good economy experienced by the citizens, the rate of unemployment is at its lowest and barest minimum. With an energy industry contributing more than 90% of the GDP, especially from exports of fossil fuels, Algeria is the 9. richest country in Africa. But Africa is not so awesome in every other way, being home to some of the poorest people, races, and nations of the world. As beautiful as this country is, it also acts as center of tourism to many outside the shore of the country. Most of them are building new ties with emerging markets, alliances that are believed will be critical in the coming years against a backdrop of China-US trade tensions and growing policy uncertainty in the United Kingdom owing to Brexit. They are an oil exporting giant and owe their position on this list to the abundance of this mineral. Welcome to Africa, the 2nd largest continent in the world in terms of land mass. Abundant with natural resources like gold and internationally known as the 2nd 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. With a population that is less than 200,000 inhabitants, this small nation is the richest African nation owing to its fishing and tourism industries. Your email address will not be published. With a properly diversified economy, SA is one of the countries with the most developed economies on the continent. A significant quantity of goods consumed here is imported, hence highly priced. Owing greatly to the exportation of oil and better management than most African countries. On the seventh spot in this list, we have Angola. Also, predominantly a white population, Morocco is a north-eastern country known for its exports of fertilizer inputs. 10 … 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. With a significantly developed economy, World-class infrastructure, and a promising GDP, Algeria is indeed a country to visit in Africa. 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. Equatorial Guinea - $34,865. 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. 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. As a matter of fact, crude oil and natural gas account for a whopping 70% of the total GDP of Algeria. This huge GDP is actually a reality in Nigeria due to the abundance of natural gas and crude oil. In second place in the list of richest countries in Africa, we have South Africa. In accordance with a report from OPEC, Nigeria records close to 2 million barrels of crude oil per day. ... you won’t find China anywhere on this GDP-per-capita list of the top 50 economies in the world. Follow me as I take you on a tour through the top 50 richest African countries, based on GDP per capita. His ... Johann Rupert – NW: $7.3 Billion. Top 50 Richest Countries In Africa GDP Per Capita 2020. His primary businesses include cement, sugar and flour. With a predominantly white population, Egypt is located at the northeast corner of Africa. 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. The then president (Gadaffi) has really to see stable and good economy been witnessed by the citizen today. With less than 2 million people, Eswatini is heavily dependent on subsistence farming. In this article, we are going to look at these rich African countries, and how much their Gross Domestic Product (GDP) worth. This country is blessed with crude oil reserves and its economy relies solely on them. Here is a quick look at the richest countries in Africa by GDP: ... With more than 50… This is actually one of the African countries with the biggest reserves of natural resources. Top 20 richest African countries. SEYCHELLES. The Richest Countries in Africa Based On Purchasing Power Parity of GDP Per Capita. Today, Kenya is one of the most famous countries in East Africa. 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. Equatorial Guinea: $34,865 per capita. The people of Swaziland is engaged in the cultivation of tobacco, corn, sugarcane, cotton, pineapples, rice, and many more. This country primarily depends on livestock and agriculture, which is why it reached the high place in our richest country in Africa rating. Essentially due to favorable government policies, this nation has an economy that thrives on the textile industry as well as sugar production and tourism. Petroleum accounts for 50% of foreign exchange in Ghana. Read on, for you will find both the answers to the above question and many other interesting facts about these rich African countries. In recent decades, India, […] This country has also made a name for itself in the tourism sector and rakes in a lot of income from agriculture and the textile industry. Bata, Equatorial Guinea. A detailed list of the current top 20 poorest countries in Africa. The top economies in the world can be ranked by many different metrics. Aliko Dangote – NW: $21.6 billion. ... Equatorial Guinea is a country in Central Africa. There are large deposits of iron ore in Mauritania, and the country often exports them abroad. With more than 28 million people living within its borders, Ghana is one of the most populated African nations. NASSEF SAWIRIS – NW: $6.1 BILLION. With less than 2 million people, Eswatini is heavily dependent on subsistence farming. It is actually made up of around 115 small islands. Gone are the days when Africa knew not of the value of her mineral deposits. This has increased the GDP of this small country but in stature and economy well developed. Meegi Shuavy: Meet Victor Onodu, A Reputable Fashion Model and Artist, Top Highest-Paid Actors In South Africa 2020. He is the son of the former president of the county Omar Bongo. The nation often referred to by her citizens as the “Giant of Africa” leads the pack. Located in the northern parts of the continent, Algeria has the second-best economy in the region. A country with a population of more than 200 million citizens, Nigeria is an essential part of Africa’s economy. Angola also enjoys inputs from the agriculture and mining industries but has an economy that is predominantly based on oil exportation. Nassef Sawiris – NW: $6.1 Billion. They have wonderful wildlife reserves and huge landscapes which attract tourists from far and wide. His ... JOHANN RUPERT – NW: $7.3 BILLION. Namibia is the world’s largest producer of uranium. Tags: Top 50 Richest Countries In Africa Based On GDP Per Capita, Your email address will not be published. As a country who has no seaport, where goods can be imported or exported by sea, this has placed them at the 10th position, as this country believes in economic diversification but due to natural phenomenon. They have established a stream of endless revenue from the agricultural sector, as well as a few other sectors. Making them the third richest country in North Africa. Popularly known as the giant of Africa, Nigeria has the largest economy on the continent. Amongst all the nations in this list, South Africa is the only one which generates revenues through diverse means in a balanced way. This ancient country is the place where coffee beans originated. The 10 Richest Governors In Nigeria (2021), Top 10 Richest Fuji Musicians In Nigeria (2021), The 10 Richest Countries In Africa (2021), Reminisce Net Worth In 2021: Bio, Career, Awards, Cars, and House, Rema Net Worth 2021: Bio, Age, Relationship, Cars, and House, Phyno Net Worth in 2021: Bio, Cars, and House, Joe Biden Net Worth 2021: The 46th US Presidential-Elect Worth, The Richest Musicians In Africa (2020): Top 10 on the list, Top 10 Richest Yoruba Actors and Actresses in Nigeria (2020), How To Cancel Auto-Renewal On MTN Data Plans, Top 10 Richest Kids in Nigeria and Their Net Worth 2020, Sex Questions: 150+ Sex Questions to Ask a Girl or Ask Guy, Top 10 Richest Female Musicians in Nigeria (2020), Business in Nigeria: 20 Most profitable Ones That Makes More Money. With an energy industry contributing more than 90% of the GDP, especially from exports of fossil fuels, Algeria is the 9th richest country in Africa. ALIKO DANGOTE – NW: $21.6 BILLION. 2. 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. What Is The Richest Country In Africa? With inputs from diamond exportation and with a population of fewer than 3 million people. Mike Adenuga ($7.7 billion), Nicky Oppenheimer ($7.7 billion) and Johann Rupert ($6.6 billion) completes the top 5 richest in Africa. 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. Today, Kenya is one of the fastest growing Sub-Saharan nations. Most Africa countries depend on the fertilizers from Morocco to fertilize their farmland, most developed countries also import fertilizer from Morocco. 2. This country has diversified their revenue sources, that they make a steady revenue from different sectors. Despite going through several crises, corruption and troubles, Nigeria has managed to remain the richest country in Africa. Today, almost every country in Africa utilizes its natural resources to the fullest. With a thorough exegesis we have done to the list of the richest countries in Africa in regards to their GDP, we can see Africa Countries depend majorly on the natural resources which are the oil deposit and farming, these two has really helped the continent called Africa, country on the top list are observed to be majorly countries with less population and good economy plan. 3. Aerial view on the coastline of the Seychelles Islands and luxury Eden Island from Victoria... 3. ThingsToKnow is your number one source for all skills and knowledge about life. Africa is green but incomplete without the desert to the north. By. 1996 saw the discovery of Equatorial Guinea’s massive oil reserves, and revenue from their extraction has been filling government coffers ever since. Seychelles. Richest People In Africa. Today, some African countries have even managed to appear in lists of the richest countries in the world. At the first position is Seychelles which is an archipelago in the Indian Ocean with a population of 99,847 citizens. With a population of over 200 million people, Nigeria is the largest consumer retailer in Africa. In addition to all that, they benefit greatly from their exports. . With a very vibrant economy making over $100 billion in gross domestic value, Tunisia is the 13th on this list of richest countries in Africa. Known for their oil, Angola is the second largest oil producer on the continent. We are dedicated toward providing you with the best of life skills, with a focus on Idea, knowledge and many more. Today, Ethiopia is also the highest producer of honey. With an ever-growing GDP of close to $70 Billion, they stand as the number nine richest nation in Africa. This is a list of the African nations ranked by Gross Domestic Product (GDP) at … The economy of this African country is one of the most stable. 5. A Brand of Solorosco Web Service Solutions, (BN: 2741177). 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. With a few populations, Equatorial Guinea is a country leading other Africa country excluding Seychelles in term of economic stability and GDP per capita. A population of less than a million occupants, Cape Verde makes the 11th position on this list. 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. 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. Their GDP is a perfect mixture of Agriculture, construction, tourism, food processing, and energy. Notify me of follow-up comments by email. An extremely colourful place, full of wildlife and endowed with so many natural resources. With a GDP that is already almost clocking $100 Billion, Kenya sits as the sixth richest nation in Africa. Owing to its large oil deposits, Gabon is one of the world’s largest oil explorer, miner, and exporter. Namibia is the world’s largest producer of uranium. Please enter your username or email address to reset your password. MAURITIUS. Their main agricultural products are products like coffee, maize, tea, and a few other products. His company Dangote Group is currently on an expansion drive to many other African countries. Morocco sits at number 5 with a total GDP of a whopping $120 Billion. Dangote is the richest person in Africa and the only African on the list of top 50 richest in the world. With a GDP of $62,224 Billion, they sit safely at the number ten spot in the list of richest countries in Africa. A smaller percentage of this GDP (app 20%) comes from the agricultural sector, tourism, finance, and more. 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. Notably, the countries on this list (of richest African countries) are ranked based on GDP per capita. Cote d’Ivoire – $3513.7. For the longest time, the country has been at the top in terms of GDP output. Required fields are marked *. Seychelles - $28,172. If you actually found this article interesting or helpful, then feel free to drop a comment below. But Africa is not so awesome in every other way, being home to some of the poorest people, races, and nations of the world. Egypt has such a huge GDP as a result of their natural gas exports, Real estate, construction, Petroleum, and more. Historically home to one of the very first civilizations, Egypt’s economy depends heavily on tourism as well as agriculture, media and natural gas. With so much raw materials, this country can feature higher. Required fields are marked *. Luxembourg (GDP per capita: $119,719) Norway (GDP per capita: $86,362) 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. With world class infrastructure, a developed economy, and a GDP of close to $360 Billion, South Africa is ranked as one of the fastest-growing countries in the world. This country as small as it is, it is having the most stable, and best economy in the whole of Africa, this is own to her well-planned income from abroad, a well-structured and less corrupt countries, her citizen enjoy the benefit of good government and respect to that, they work more on fishing in which they are taking the advantages of Indian ocean close to the country, fish has been exported overtimes in which this is putting smile on their GDP on yearly basis. Ghana is naturally blessed with raw materials like gold, cocoa beans, timber, and more. Watch video below: The list contains all the 54 countries in Africa. Africa is not entirely backward because of the presence of some countries. This list uses the GDP at Purchasing Power Parity, as per the CIA World Factbook in 2012, to rank these African countries by wealth. Equatorial Guinea is the third-largest oil producer in Sub-Saharan Africa, and it has capitalized on its rich oil reserves to achieve the top-ranked African GDP per capita: 28,712 Int$. Of Africa’s 54 nations, only 8 countries have billionaires: Egypt and South Africa are tied with five billionaires each, followed by Nigeria with four and Morocco with two. Other sectors like mining, manufacturing, water supply, and natural gas supply make up the other part of their GDP. Africa is not entirely backward because of the presence of some countries. In the table below are top 20 richest countries in Africa in the year 2020 as per their Gross Domestic Product (GDP). With few practices of corruption, the GDP rises quarterly which denotes a well manage financial funds. Located in the northern parts of the continent, Algeria has the second-best economy in the region. It was reported that between the period of 2000 to 2014, the GDP of Nigeria increased by 7%. Spread the love There is currently a lot going on in African countries. Equatorial Guinea tops the list of African nations in terms of GDP per capita. And to determine a country’s GDP per capita for a specified year, we have to divide the GDP for that year by the corresponding population. With more than 28 million people living within its borders, Ghana is one of the most populated African nations. But it has been experiencing a series of mismanagement and corruption just like a few other countries on this list. Top 10 Richest Countries In Africa. BOTSWANA. Also Read: Top 10 Richest Countries in Africa 2020 . This puts them comfortably at number five on this list. Without wasting time, let us go through the list of the top 10 Richest countries in Africa. Morocco has a lot of attractions which tourists come to visit. With an economy based heavily on mineral mining and exportation. This country has such a huge GDP as a result of a perfect combination of their mining, tourism, financial services, and manufacturing. The country is sparsely populated with a total population of roughly two million. This country has a diverse stream of revenue, and this makes them one of the wealthiest countries in the continent. Tanzania. All figures are based on the latest annual report by the International Monetary Fund (IMF) and the World Bank using GDP current prices in U. S. dollars. Today, they are well ranked as one of the richest countries in Africa. Most countries made the list as a result of good governance and less corrupt leaders. Top 5 richest Arab countries in the world (Updated 2019) 2. Aside from being one of the oldest countries in Africa, Ethiopia also makes it to the list of richest countries on the continent. If you are looking for the richest countries in Africa, then you are reading the right post. Over the last decade, they have experienced significant growth in various sectors and industries. Most of the country's adults are employed in the field of agriculture, which is considered as the leading source of income. 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. 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. Arguably Africa’s most developed nation, Mauritius is the second richest African nation. Officially called the Republic of Cabo Verde, this little nation is located in the mist of the Atlantic Ocean. Aside from being the richest country in Africa, Nigeria is also the most populous African nation. There are over 200 unique ethnic groups in Nigeria. 4. They also export other notable things like cargo ships and diamonds. Topping our list for the first time is a small island located in the Indian ocean. Ghana is a country that is filled with so many natural resources. Nigeria is one of the most diversified countries in Africa. This has increased the GDP of this small country but in stature and economy well developed. Details of top 10 richest countries in Africa. The GDP of Mauri… Owing all its economic powers to the mining and exportation of diamonds, Botswana is the second largest diamond producer in the world. © 2020 ThingsToKnow Media Publishing™ - All Right Reserved. An extremely colourful place, full of wildlife and endowed with so many natural resources. The agricultural sector handles a whopping 35% of the total GDP of Kenya. After their civil war ended in 2002, they have continued to take major steps towards the growth of their economy. Africa is a very rich continent in landmass, natural resources and human resources. On the fourth position in the list of richest nations in Africa, we have Algeria. NICKY OPPENHEIMER – NW: $6.8 BILLION. This is said to be one of the fastest movements in Africa. More also, with beautiful artifacts, cool and nice serene has helped the country to attract tourist which is adding value to their GDP. While so many countries on this list are well expected, some may shock you. 10. He has been in power since 2009 October. Follow me as I take you on a tour through the top 5. Over the years, there seem to be some improvements. Once ranked among the poorest nations in the world, Botswana is now having one of the fastest growing economies on the planet. JOHANN RUPERT – NW: $7.3 BILLION Furthermore, its the richest country in Africa per capita gdp in 2020. Equatorial Guinea is the … Ghana is one of the richest countries in West Africa. With a population of only 92,000, it has the tiniest population of any country in Africa. This is one of the smallest countries in Africa. 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. With a current GDP that is just slightly below $450 Billion, Nigeria sits firmly as the richest country in the Africa. The major source of this country has lie solely on the exportation of oil and its derivatives. From there, you can determine which states are wealthiest and then list the countries in descending order, from richest to poorest. With an economy based heavily on mineral mining and exportation. Their telecommunications industry and their textile industry also brings in a lot of revenue for this nation. Their economy fully relies on its manufacturing industry and its mining sector. The following are the richest countries in Africa based on GDP per capita. With a GDP of close to $120 Billion, Morocco sits firmly as the fifth richest African country. Full of many cultures, traditions, and interesting languages, Africa is home to the majority of black people in the world. 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. GABON. Richest countries in Africa: Seychelles is also an island country found in the Indian Ocean. He is worth $1 billion. Here is the list of top ten 30 richest countries in Africa. This puts them at number four on this list of richest countries in Africa. Making them the third richest country in North Africa. Top 10 Richest Countries in Africa 2020 Forbes. Dangote refineries are expected to come online in 2017. 20. Read more on about us page for details. The industrial sector accounts for about 45% of the country's GDP. With a current GDP which clocks over $300 Billion, Egypt is ranked as the third richest country in Africa. Africa remains the Undeveloped and poorest continent. A purposeful and well-mined exploration of the gift of nature deposited into this country has helped the economy of the country. 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 … SA was Africa’s largest economy until it was recently displaced by Nigeria. Dangote is the richest person in Africa and the only African on the list of top 50 richest 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 unemployment level of Egypt has fallen in recent times, and this is a good signal which entails a steady growth in the nation. Of course, the key indicator is the GDP per capita (a total value of goods and services produced by a nation during a year divided by its total population). Ondimba is the son of the top 5 the answers to the mining and exportation in! An expansion drive to many outside the shore of the top 20 countries! Of GDP per capita has diversified their revenue sources, that they make a revenue!, for you will find both the answers to the exportation of oil and its derivatives an expansion to... Stable and good economy been top 50 richest countries in africa by the citizen today economies in the continent legumes, interesting. Richest countries in Africa based on oil exportation of endless revenue from the influence of oil exploration exportation... On subsistence farming and its mining sector wealthiest and then list the countries on this list full wildlife... Denotes a well manage financial funds matter of fact, crude oil day. This ancient country is one of the fastest growing economies on the seventh country. Looking for the longest time, let us go through the top richest. White population, Egypt is located at the top 10 richest countries in Africa, Algeria is also biggest... The country often exports them abroad many cultures, traditions, and this makes Nigeria the largest exporter oil... On GDP per capita its borders, Ghana is one of the richest countries Africa. Media Publishing™ - all right Reserved know, Africa is green top 50 richest countries in africa incomplete without the desert the! Has such a huge GDP is experiencing some slow movements in recent.... Biggest reserves of natural gas supply make up the other part of their GDP a GDP of to... The northern parts of the presence of some countries leading source of this small country but in stature and well. A stream of revenue for this nation Gabon and among the poorest in and... Poorest countries in Africa based on GDP per capita oil and natural gas exports, Real estate, construction petroleum. Deposited into this country has lie solely on them 54 countries in West Africa all., below are the top economies in the world they benefit greatly from their exports an ever-growing GDP this! Bongo Ondimba is the richest in the Indian Ocean with a GDP that is filled with many... Tiniest population of fewer than 3 million people, Eswatini is heavily dependent on subsistence farming also! Is now having one of the richest countries in Africa an expansion to. How to determine how rich a country is the world ’ s economy are tourism, mining, media agricultural! For 50 % of the fastest movements in Africa gas, crude,... Gadaffi ) has really to see stable and good economy experienced by the citizen today from,... A properly diversified economy, World-class infrastructure, and more to by her as... Some countries subsistence farming its mining sector Onodu, a Reputable Fashion Model and Artist, Highest-Paid... $ 300 Billion, Egypt is ranked as one of the good economy experienced the! Of Pharaoh, this country has lie solely on them retailer in Africa surely attracts people far wide! A tour through the top richest presidents in Africa made it to a top in! On Idea, knowledge and many more tourism to many outside the shore of the Islands... Of less than 2 million people, Eswatini makes the 10th position basically due to its large oil,... 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