Top 10 Richest Countries in the Continent of AfricaBy Ana Maria | Updated On
Africa is the second-largest continent after Asia, with over 1.3 billion people. With a large number of human resources and natural resources, African countries are continuously growing economically and infrastructurally as well. One-third of the minerals lie in this continent.
“The agricultural sector in Africa has huge scope for development which would benefit both the economy of the continent and its people.”
The giant nation of Nigeria produces an enormous amount of oil each year. They also provide some precious metals like gold, silver, uranium along with cobalt, coppers, etc.
Here are the top 10 countries of Africa which are thriving:
Tanzania has gained economic stability. The country has a blended financial system. In recent years the investments in agricultural improvements and rail sectors have paid off. They exports gold, coffee beans, and some other products. The total GDP of the country is around $60 Billion.
Kenya’s economy has improved drastically in recent years. And now it is one of the leading countries in Africa. The particular recent economic expansion has been boosted by the stable macroeconomic environment, optimistic investor self-assurance, and a strong services industry. They generate income from agriculture and technological sectors mostly. The total GDP of the country is around $98 Billion.
Angola is a leading country in Africa that generates most of the income from oil sectors. Angola has been working in politics in addition to structural reforms to secure its overall economy. The total GDP of the country is around $91 Billion.
Ghana has a blended economic system, which includes some privately owned freedom along with weak central economic organizing and authorities regulation. Rare metal, oil, and also cocoa export products, and personal remittances, are usually significant types of foreign exchange. The total GDP of the country is around $67 Billion.
Ethiopia has nearly a 10% growth in GDP in recent days. The country has a large population of over 100 million citizens that helps a lot to generate national income. Most of the earning comes from the agriculture and cultivation sectors. The total GDP of the country is around $92 Billion.
Morocco is a top-listed African rich country and with a persistently increasing GDP. It is one of the highest income-generating Arab countries that are not oil-based. Most of the earning comes from agriculture, fish, different kinds of seafood, and tourism sectors. The total GDP of the country is nearly $120 Billion.
Egypt has solid economic stability. The GDP growth of the country is growing at a rate of nearly 6%. The country earns from different sectors. The main income-generating areas are gas, real state, wholesaling sectors. They earn a lot of money from service providing related sectors and tourism. The total GDP of the country is $300 Billion.
Algeria is one of the richest countries in Africa, and the economy of this country is still improving. They generate most of their earning from gas and oil sectors. The country went through some political issues that also affected the commercial areas. Nowadays, the country is fighting back. They also earn from agricultural and industrial industries. The total GDP of the country is almost $173 Billion.
This country’s economic climate is based on mining or prospecting and business. It is the planet's most significant precious metal GOLD producer. This country alone produces almost half of the total gold of the world, which is enormous. They also provide another precious metal that is platinum. They produce more than 80% of the whole platinum of the world as a whole. The total GDP of the country is more than $350 Billion.
This country’s economy is mostly dependent on the oil sector. The production and export of pod oil solely contribute more than 80% of the total income of the country. Agriculture and other industries also contribute. The growth of GDP is getting better here and is increasing at a rate of more than 7% annually. The total GDP of the country is $440 Billion.