In today’s blog, we will be talking about the Top 10 Richest Countries In Africa 2022 with the strongest African economy. Africa has some of the sought-after natural resources in the world. Meanwhile, the West African countries with a population of over 200 million citizens, make up an essential part of the African economy. With a GDP of just over 480 billion dollars.
We will now go straight to listing the Top 10 Richest Countries In Africa 2022.
Here Are The Top 10 Richest Countries In Africa 2022
1. Tanzania – this is one of the richest countries in Africa with a GDP of 62 billion 224 million US dollars. This place is also known as home to some of the best and most famous parks including famous mount Kilimanjaro. The Country’s economy is highly based on Agriculture contributing about 25% to the economy. And with growing industries that include mining, manufacturing, construction, electricity, shopping, natural gas, etc. Also, with main export include Coffee, Gold, Cashew nuts. Perhaps, the economy of Tanzania is still growing and shows no sign of slowing down in the years to come.
2. Ghana – is a country in West Africa and has an economy that is both diverse and rich in resources with a GDP of 67 billion US dollars. Ghana is the first to break free from Colonial rule. This Country has a business-friendly government and economy which is attractive for investment, Ghana has experienced economic growth of just over 6% in the last two years.
This country has an abundance of natural resources helping to feed an economic boom. The Country’s main export is gold and petroleum. This two large commodity make up 50% of the country’s foreign exchange. Other Ghanian exports are cocoa beans and timber.
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3. Ethiopia – This is the eighth wealthiest country in Africa. it is a place where coffee was first been discovered. This nation is the highest coffee and honey producer in Africa, making up a large portion of the country’s foreign exchange. Ethiopia exports include oil seeds cat flowers. The GDP is 91.166 US dollars, comprised of agriculture, tourism, manufacturing, tourism, food processes, resource, energy, etc.
Meanwhile. Agriculture is the region’s most promising resource making up 40%, 50% of exports, and so on. The economic growth has been about 9.9% year on year since 2008 making it one of the most stable economies on this list.
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4. Angola- is another one of the Top 10 Richest Countries In Africa 2022. And Angola has one of the biggest reserves of raw materials in Africa. This Country is one of the richest, however, due to mismanagement and government and private sector corruption, the country’s economy has been seriously affected. The country produce and exports crude oil for foreign exchange.
In fact, 90% of the nation’s revenue in the sector comes from the sale of crude oil. Meanwhile, oil is not the only item exported from Angola, other export items are diamonds and cargo ships. So, in the last 15 years or more, the Country has experienced the fastest growing economy to date.
5. Kenya – This is a country in East Africa, with beautiful wildlife and landscape. This is one of the Richest Countries in Africa having a GDP (Gross Domestic Product) of almost $100 Billion US dollars. They have a stable way of living. The industrial sector contributes about 50% of GDP.
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6. Morocco – this is one of the Top 10 Richest Countries In Africa 2022 with a GDP of almost $120 billion US dollars. This Country comes in the halfway spot of one of the richest countries in Africa, the economy in the country is extremely stable and is growing. Morocco is the 2nd richest oil-producing country in Africa. The Country’s economy is driven by mining and manufacturing. This Country is well known for its stunning attractions in the country. Morocco relies heavily on its agriculture.
7. Egypt – This country would have been the richest country on our list but recently the country’s economy suffered a revolution, with recent GDP of over $300 billion US dollars. Recently, Egypt has also seen the unemployment level fall.
8. Algeria – is also one of the Top 10 Richest Countries In Africa 2022. And the largest country by area located on the north part of the African continent. The country boast of reducing poverty by 20% within the last 20 years. Crude oil is abundant in this country and the economy relies on it. oil and natural gas make up about 70% of the income of the Country. Other industries in Algeria that boast the economy are Agriculture, construction, etc.
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9. South Africa – with a highly developed economy and a GDP of over $350 billion US dollars, the country is considered as one of the fastest developing countries in the entire world. This country is the only nation on this list that is not relying on a single source of revenue. And this Country has a good mix of mining, manufacturing, tourism, and financial services. South Africa is in abundant natural resources and raw material exports like Gold, Diamonds, iron, etc. South Africa is a great place for tourists with breathtaking landscapes like beaches, mountains, areas full of wildlife, and so on.
10. Nigeria – this Country earns the top spot of one of the richest countries in Africa, boasting of population 200 million people, and is located in West Africa. Nigeria has a GDP of about 450 billion US dollars, which tops the list of the richest countries in Africa.
The sizable domestic product is driven by transportation, infrastructure, tourism, and an abundance of crude oil. And the country records about 1.6 million barrels of oil per day making it the largest exporter of crude oil in all of Africa. The petroleum export makes it 10% of total gross domestic product and over, and 80% of the exporting goes to revenue.
In other words, Nigeria also has abundant natural resources like coal, limestone, zinc, natural gas, iron, etc. There is also sufficient land for agriculture which is responsible for over 20% of the gross domestic product, producing cocoa and Rubber. The large population has helped the Country reach the largest retailer in the whole of Africa. According to World Bank, Nigeria’s GDP grew 7% year on year which is one of the fastest rates in Africa.
In conclusion onTop 10 Richest Countries In Africa 2022-
Did you get any surprise from any of the countries? or are there any of the Countries you did not expect to see here or expecting to see here, please share your view in the comment area.
Thank you for reading.