List of Top 10 richest countries in Africa | Africa Facts
Updated: Apr 2, 2020
List of Top 10 richest countries in Africa | Africa Fact
Africa is a continent riddled with mineral-rich soils which contain some of the rarest precious gems, yet is home to some of the poorest countries in the world.
We hear so much about how poor Africa is and we hardly get to see articles that show the wealth of our beautiful continent.
We have consulted a few online sources and there seems to be an agreement with the top 10 list of richest countries in Africa.
In order of 10th richest to the richest:
10. Tunisia: GDP – $49.122 billion
Tunisia is the smallest country located in the Northern Africa region
Tunisia borders the Mediterranean Sea, between Algeria and Libya.
Tunisia’s economic growth depends mainly on oil phosphates, agri-food, tourism, and car manufacturing parts.
Tunisia is the world’s fourth-largest olive oil producer.
The official language is Arabic.
The city is rich with history which dates back to the 12th century.
Tunisia experiences year-round beautiful weather and the standard of living is quite affordable, which is also a drawcard for attracting tourists.
9. Libya: GDP – $49.341 billion
The Libyan economy depends primarily upon revenues from the oil sector, which accounts for 80% of GDP and 97% of exports.
Libya provides all its citizens with free education.
Libyan citizens are given loans at a zero percent interest rate.
Apart from petroleum, the other natural resources are natural gas and gypsum.
Libya stretches along the northeast coast of Africa between Tunisia and Algeria on the west and
Much of the country lies within the Sahara. Along the Mediterranean coast and farther inland is arable plateau land.
Alcohol consumption is prohibited by law in Libya.
The currency of Libya is the Dinar (LYD)
8. Angola: GDP – $49.857 billion
The Democratic Republic of the Congo and the Republic of Congo are to the north and east, Zambia is to the east, and Namibia is to the south of Angola.
Angola has a large deposit of oil and gas resources, diamonds, and bountiful agricultural land (The country becomes a major supplier to China’s.)
Angola has made efforts to revive its economy with heavy oil and agricultural exports and local cities are undergoing major reconstruction to make Angola a top African destination.
7. Kenya: GDP – $53.40 billion
Kenya is located in East Africa, on the equator.
Kenya borders Somalia to the east, Ethiopia to the north, Tanzania to the south, Uganda to the west, and Sudan to the northwest.
The capital of Kenya is Nairobi is a regional commercial hub.
Hydroelectricity is the largest contributor to Kenya’s electricity supply.
Kenya’s economy, by GDP, is the largest in Southeast and Central Africa.
Kenya traditionally exports tea and coffee and has more recently begun to export fresh flowers to Europe.
Compared to other African countries, Kenya enjoys relatively high political and social stability.
6. Sudan: GDP – $112.552 billion
Sudan is the largest country on the continent.
Located in Northeast Africa, bordering the Red Sea, between Egypt and Eritrea
Cotton and peanuts constitute its major agricultural exports.
Other exports include oil and petroleum products; sesame, livestock, groundnuts, gum arabic and sugar.
Cotton from Sudan has fueled the textile industry in many parts of the world.
5. Morocco: GDP – $112.552 billion
Morocco was named the first most competitive economy in North Africa.
Tourism, telecoms, textiles, and agriculture are Morocco’s biggest money pullers.
The capital city of Morocco is Rabat, although the largest city is Casablanca with nearly 4 million people.
Green tea with mint and sweetened with sugar is a popular beverage in Morocco.
5. Algeria: GDP – $227.802 billion
Much of its wealth is received from oil deposits deep within the North African region.
Algeria borders the Mediterranean Sea, between Morocco and Tunisia
You can find onyx, red and white marbles, iron, lead, and zinc in large quantities.
Algeria’s capital city is Algiers.
Algeria possesses rare beauty in the intricate architecture of its most famous buildings.
4. Egypt: GDP – $284.860 billion
The official name for Egypt is “the Arab Republic of Egypt.”
Egypt has one of the longest histories of any modern country as one of the world’s first nation-states.
Egypt is a very dry country. The Sahara and Libyan Desert make up most of the area of Egypt.
The longest river in the world, the Nile, runs through Egypt.
The Egyptian flag (which is similar to the flags of Syria, Iraq, and Yemen) consists of three bands of colors from the Arab Liberation flag:
Red – Represents the bloody struggle against oppression
White – Symbolic of a bright future
Black – Represents oppression
3. South Africa: GDP – $341.216 billion
Known for its mineral resources such as gold and diamond
South Africa is the only country in the world to have two Nobel Peace Prize winners who had houses on the same street. The street in question is Vilakazi Street in Soweto, and the Nobel Prize winners were Nelson Mandela and Archbishop Desmond Tutu.
South Africa is the second-largest exporter of fruit in the world.
Kruger National Park supports the greatest variety of wildlife species on the African continent.
There are more things to look forward to in South Africa besides its jewels.
Cape Town’s Table Mountain is believed to be one of the oldest mountains in the world.
Table Mountain alone has over 1,500 species of plants, more than the entire United Kingdom.
1. Nigeria: GDP – $594.257 billion
Standing at number ON is none other than…..Nigeria!!
Nigeria is located in West Africa.
The most populous country in Africa is a major contender on this list, its manufacturing sector being the third largest in Africa while it contributes a considerable share of the world’s oil.
Taking into account this country’s population of 170 million, Nigeria is on track to becoming one of the 20 largest economies in the world by 2020.
Officially called the Federal Republic of Nigeria
Home of Nollywood (Nigeria’s movie industry) ranked the second largest producer of movies in the world.
Why do you think Nigeria has reached the top spot in Africa?
Is it Aliko Dangote’s business?
Is it Nollywood?
Are you Nigerian national? What is it like living in Nigeria?
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