10 Richest Countries in Africa in 2022

10 Richest Countries in Africa in 2022

Since we published an article about the poorest countries in Africa, we thought we should write one about the richest ones. We are all aware of the fact that Africa is home to some of the poorest countries in the world with a high poverty rate. But what about countries with relatively high GDP? Today, we bring you a list of the ten richest countries in Africa according to their Gross Domestic Product.

1. Nigeria:

Nigeria is a country in West Africa that is often referred to as the most populous country in Africa. It has a population of more than 180 million people and its capital is Abuja.
Nigeria has a diverse culture, with significant influences from indigenous African cultures, Islam as well as Christianity, and European colonialism. The nation’s official language is English.
It is not only the most populous but also the richest country in Africa with a GDP of $514,05 billion.

2. Egypt:

Egypt is one of the most popular tourist destinations in the world. It has a rich history and culture that makes it a unique destination. It’s located in North Africa with an area of 1,001,450 square kilometers. It has the longest coast on the Mediterranean Sea and the second-longest Nile River. Egypt has one of the world’s oldest civilizations that dates back to 3100 BC. The country is home to some of the most famous monuments in history such as The Great Pyramids of Giza and The Sphinx.
Egypt is one of the top economies in Africa with a GDP of $394,28 billion.

3. South Africa:

South Africa is a country in southern Africa. It has been a member of the Commonwealth since 1961. It is one of the most diverse countries in terms of culture, heritage, language, and ethnicity. South Africa also has one of the most complex histories due to its location on the continent, its history as a British colony, as well as its recent transition to democracy.
South African culture has been influenced by many different groups such as European settlers and traders, Bantu peoples, Khoisan people, Swazi people, and British colonizers. The country’s population consists mainly of Black Africans but also includes White Africans and Coloreds (people with mixed ancestry).
South Africa is the third richest country in Africa and the largest producer of platinum in the world. It has a GDP of $329,53 billion.

4. Algeria:

Algeria is a country in North Africa with a population of more than 40 million. It has a long and rich history that dates back to ancient times. The country was invaded by many empires such as the Romans, the Vandals, and the Byzantines, It was also ruled by France for more than 100 years before gaining its independence in 1962.
It is the second North African country on this list of the richest countries in Africa.
Algeria’s GDP amounted to $151,46 billion in 2021.

5. Morocco:

Morocco is an Arab country located on the North African coast. It borders Algeria to the east and the Atlantic Ocean to the west.
Morocco has a rich history that dates back thousands of years. Berber tribes lived in the area for centuries before Islam arrived in Morocco. The arrival of Islam led to a religious and cultural revival, which can be seen in Morocco’s architecture, arts, and cuisine.
Morocco is one of the most popular destinations in the world, mostly because of its diverse mix of culture and history, as well as its cultural richness.
Morocco’s GDP is worth $124 billion.

6. Kenya:

Kenya is a country in East Africa with its capital city of Nairobi. It is considered not only one of the richest countries in Africa but one of the top 10 fastest-growing economies in the world. It has a population of about 55 million people.
The country has a GDP of $106,04 billion.

7. Ethiopia:

Ethiopia is a country in East Africa with a population of 100 million people. It is an ancient civilization that has been around for thousands of years and has a rich history and culture. The country has a diverse landscape that includes mountains, rivers, plains, lakes, and deserts. In addition to being the second-most populous country in Africa, it is the seventh richest country in Africa with a GDP size of $93,97 billion.

8. Ghana:

In the eighth place, we find Ghana. It is one of the leading countries in Africa generally because of its natural wealth. To illustrate, Ghana is the second-largest producer of cocoa globally. In addition to cocoa, it possesses industrial minerals, hydrocarbons, and precious metals.
Ghana has a GDP size of $74,26 billion.

9. Ivory Coast:

Ivory Coast is a country in West Africa. It is the world’s leading exporter of cocoa, with an annual production of approximately 2 million tons. Its economy depends heavily on the cocoa industry. To illustrate, the cocoa industry makes up about 7.5% of its GDP and employs a large part of the population. The country has a long history and rich culture that has been passed down through generations.
Ivory Coast’s GDP is worth $70,99 billion.

10. Angola:

Angola is a country on the west coast of southern Africa. It has been ruled by the Portuguese since the early 1500s, however, it gained its independence in 1975. The country has been through a lot of turmoil since its independence from Portugal in 1975. Despite this, it has managed to become one of the fastest growing economies on the continent and is now considered one of Africa’s most promising emerging markets with a GDP of $66,49 billion.

Conclusion:

To conclude, we like to add two important details:
Most of the countries on this list of the richest countries in Africa, don’t feature in the list of the richest countries of Africa by GDP per capita, due to the fact that a GDP measurement disregards the number of citizens contributing to a country’s GDP.
Even though, these countries’ GDPs pale in comparison to developed countries such as the U.S, China, and Germany. However, they are one of the fastest-growing economies in the world.

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