Ranking of the Richest Countries In Africa Based On GDP Per Capita. Welcome to Africa, the 2nd largest continent in the world in terms of land mass. An extremely colourful place, full of wildlife and endowed with so many natural resources. Africa is green but incomplete without the desert to the north. Full of many cultures, traditions, and interesting languages, Africa is home to the majority of black people in the world. But Africa is not so awesome in every other way, being home to some of the poorest people, races, and nations of the world. 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. Africa is not entirely backward because of the presence of some countries. Follow me as I take you on a tour through the top 50 richest African countries, based on GDP per capita.
Top 50 Richest Countries In Africa GDP Per Capita 2020
|S/N||African Countries||Nominal GDP Per Capita|
|16.||Republic Of Congo||2,443.75|
|20.||Sao Tome and Principe||2,147.16|
|47.||Central African Republic||440.99|
Details of top 10 richest countries in Africa.
GDP per capita: $17,154.74
Topping our list for the first time is a small island located in the Indian ocean. 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. 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. More also, with beautiful artifacts, cool and nice serene has helped the country to attract tourist which is adding value to their GDP.
GDP per capita: $11,693.55
Arguably Africa’s most developed nation, Mauritius is the second richest African nation. Essentially due to favorable government policies, this nation has an economy that thrives on the textile industry as well as sugar production and tourism. 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.
3. EQUATORIAL GUINEA
GDP per capita: $9,140.32
One of the luckiest nations on the continent, Equatorial Guinea “third on our list of richest countries in Africa” is a small nation with a small population with a large oil reserve. Owing greatly to the exportation of oil and better management than most African countries. 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 purposeful and well-mined exploration of the gift of nature deposited into this country has helped the economy of the country. With few practices of corruption, the GDP rises quarterly which denotes a well manage financial funds.
GDP per capita: $8263.22
Once ranked among the poorest nations in the world, Botswana is now having one of the fastest growing economies on the planet. Owing all its economic powers to the mining and exportation of diamonds, Botswana is the second largest diamond producer in the world. This puts them at number four on this list of richest countries in Africa. 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.
GDP per capita: $8,031.44
Gabon is an East African nation that is not densely populated. Owing to its large oil deposits, Gabon is one of the world’s largest oil explorer, miner, and exporter. 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.
GDP per capita: $6,835.62
There’s not much to say about this north African nation. They are an oil exporting giant and owe their position on this list to the abundance of this mineral. The then president (Gadaffi) has really to see stable and good economy been witnessed by the citizen today. The major source of this country has lie solely on the exportation of oil and its derivatives.
7. SOUTH AFRICA
GDP per capita: $7,331.46
With a properly diversified economy, SA is one of the countries with the most developed economies on the continent. SA was Africa’s largest economy until it was recently displaced by Nigeria. South Africa boasts of developed tourism, mining, media and agricultural industries. This puts them comfortably at number five on this list. 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.
GDP per capita: $5,675.11
With an economy based heavily on mineral mining and exportation. Namibia is the world’s largest producer of uranium. With inputs from diamond exportation and with a population of fewer than 3 million people. 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. This has increased the GDP of this small country but in stature and economy well developed.
GDP per capita: $4,229.78
Located in the northern parts of the continent, Algeria has the second-best economy in the region. 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. 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.
GDP per capita: $4,205.67
Completely landlocked by South Africa, Eswatini makes the 10th position basically due to its agricultural industry. With less than 2 million people, Eswatini is heavily dependent on subsistence farming. 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.
11. Cape Verde
GDP per capita: $3,650.11
Officially called the Republic of Cabo Verde, this little nation is located in the mist of the Atlantic Ocean. A population of less than a million occupants, Cape Verde makes the 11th position on this list. As beautiful as this country is, it also acts as center of tourism to many outside the shore of the country.
GDP per capita: $3,409.95
Also, predominantly a white population, Morocco is a north-eastern country known for its exports of fertilizer inputs. 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. They came in 12th on this list. Most Africa countries depend on the fertilizers from Morocco to fertilize their farmland, most developed countries also import fertilizer from Morocco.
GDP per capita: $3,072.51
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. Making them the third richest country in North Africa. As part of the good economy experienced by the citizens, the rate of unemployment is at its lowest and barest minimum.
GDP per capita: $3,060.02
Known for their oil, Angola is the second largest oil producer on the continent. Angola also enjoys inputs from the agriculture and mining industries but has an economy that is predominantly based on oil exportation.
GDP per capita: $3,019.72
With a predominantly white population, Egypt is located at the northeast corner of Africa. Historically home to one of the very first civilizations, Egypt’s economy depends heavily on tourism as well as agriculture, media and natural gas.
16. REPUBLIC OF THE CONGO
GDP per capita: $2,443.75.
GDP per capita: $2,262.57
With more than 28 million people living within its borders, Ghana is one of the most populated African nations. 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. 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.
GDP per capita: $2,233.45
Popularly known as the giant of Africa, Nigeria has the largest economy on the continent. Plagued with an ever-rising population, the Nigerian economy has failed to properly diversify from the influence of oil exploration and exportation.
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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. Most countries made the list as a result of good governance and less corrupt leaders. Predominantly among the leaders of most countries are those that have less or no qualification in resources management and related field more reasons most Africa countries has been stagnated and unable to diversify the economy.
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