List: The Wealthiest African Countries in 2023 Ranked by GDP
The beautiful continent of Africa is blessed with an abundance of natural resources, raw materials, precious metals, and fertile soil. My posts about Africa — the most inspiring quotes about Africa and the best African sunsets — are among the most read pieces on this site. And I’m so glad to see that so many of you are as interested in Africa as I am. With my background in finance, I thought I’d combine my love for travel and learning more about the world to showcase something little different. Let’s look at the economic situation of this continent, including a list of the richest countries in Africa.
Did you know: Africa holds approximately 30% of the world’s known mineral reserves with the most significant resources being gold, diamonds, cobalt, uranium, oil, and gas reserves.
Africa comprises 54 countries, with over 1,3 billion people, producing $2.2 trillion in nominal GDP.
The largest drivers of the economy are agriculture, natural resources, and trade. In 2013, it was the fastest growing continent and remains a powerhouse of resources, ideas, and innovation.
With consistent growth and improvement, it is estimated that the African economy will reach a GDP of $29 trillion by the year 2050, playing a major role in the global economy. The World Bank expects most of the countries on this continent to reach “middle income” status, with a GDP per capita of at least $1,000 within the next decade.
>> Read next:
- The most affordable tropical island in Africa and around the world
- Ranked: The safest countries in Africa (+ where to avoid)
- What are the best countries in Africa in 2023?
- 15 most famous African landmarks
- Feel the rhythm: Top 100 African songs of all time
- List: Africa countries list 2023
- Revealed: the smallest country in Africa
- The most beautiful African proverbs about life
- How many countries are there in the world?
Growth is stable and forecast to pick up
Africa’s economic outlook has stabilised and is expected to increase, despite remaining below historical highs.
The total real GDP growth, of 3.4% 2019, is forecast to increase to 3.9% in 2020 and to 4.1% in 2021. Leading the way are six economies among the world’s 10 fastest growing economies that include Ethiopia, Rwanda, Tanzania, Côte d’Ivoire, Benin, and Ghana.
The economic growth in Africa varies significantly across country and across regions with the diversity extending beyond culture and trade to factors such as historical development, international relations, and important resources.
The continent’s fastest growing region is East Africa with an average growth of 5% last year. The second fastest region is North Africa, having a growth rate of 4,1% in 2019 and making the largest contribution to Africa’s overall GDP growth. In the middle is West Africa (3,7% growth rate) and Central Africa (3,2% growth rate). Trailing at the back is the Southern African region where growth slowed from 1,2% in 2018 to 0,7% in 2019.
Exports and investments are increasingly driving growth
Africa’s growth’s fundamentals are also improving. There is a gradual shift towards investments and net exports, away from private consumption.
In 2019, investment expenditure accounted for a larger share of GDP growth than private consumption. Net exports were also a strong contributor, particularly among commodity exporters.
Long-term growth is driven mainly by physical capital accumulation, but human capital plays an important complementary role.
Is Africa poor?
Though Africa is rich in resources, the continent and its people have been exploited for decades.
Yes, several countries of Africa are among the poorest in the world and a large section of the population lives below the poverty line.
Another reason is because the economic growth on the continent has not been inclusive, with only about a third of African countries having achieved inclusive growth. The inequality in income will deter the distribution of wealth among the African people.
Ending extreme poverty remains a challenge for most African countries. The continent has jointly set a target of eradicating extreme poverty by 2030. It remains off track thus far, with the rate projected to fall to only 24,7% in 2030, far from the 3% Sustainable Development Goal target.
Did you know:
A handful of African countries have the fastest-growing economies in the world.
How do you determine the wealth of a country?
The most commonly-used and best metric to quantify this value is by using what is referred to as the Gross Domestic Product or GDP. GDP is defined as the total value of all services and goods produced in a nation’s economy over a set period of time, usually a year. This measurement reflects how productive a country is.
The shortcoming with using GDP is that this measurement does not consider the difference in the cost of living between countries as well as the differing inflation rates, thus not necessarily portraying the complete picture.
This is where GDP per capita at purchasing power parity (PPP) comes in, providing a better indication of just how well-off the citizens of a country really are. It is calculated by dividing the total GDP of a country by the population of that country giving an average GDP per individual. GDP (PPP) takes into account the fact that the same amount of money can buy a different amount of goods in each country. Using PPP helps to reduce the differences in the exchange rates, providing more accurate results.
With this in mind, I have provided a list of the richest countries in Africa based on both GDP and GDP per capita to give you a better indication of the economic situation on the continent.
You will see the results differ significantly depending on which measurement is chosen, with only a handful of countries making both lists. You will also find a list of African countries rich in natural resources.
Ready? Let’s get into it...
TOP 10 RICHEST AFRICAN COUNTRIES IN 2023 RANKED BY GDP & PRIMARY EXPORTS
Here we discuss the 10 wealthiest countries in Africa 2023 and 2022 and the nature of their economies.
All figures are based on the latest annual report by the International Monetary Fund (IMF) and the World Bank using GDP current prices in U. S. dollars.
This post was originally published in 2020, but has been updated to reflect the latest financial figures. The 2023 estimates are as follows:
1 | NIGERIA – THE RICHEST COUNTRY IN AFRICA (GDP: $504.203 Billion)
GDP: $504.203 Billion (nominal, 2023 est.)
Global Ranking: 31st
GDP per capita: $2,326 (nominal, 2023 est.)
Real GDP growth: 3.4%
Country group: developing lower-middle income economy
Value of exports: $53,618 million (2019)
Current account balance: -$15.486 billion
Currency: Nigerian Naira (NGN, ₦)
This West African country, with a population of over 200 million citizens, makes up an essential part of the African economy. With a GDP just over $510 billion, Nigeria holds the position of the richest country in Africa in 2023.
The sizeable GDP is mainly driven by finance, transport, infrastructure, tourism, and an abundance of crude oil.
The country records around 1.6 million barrels of crude oil a day, according to OPEC, making it the largest exporter of crude oil in Africa. These petroleum exports make up 10% of the total GDP and over 80% of the export sector revenue.
In addition to petroleum, Nigeria has an abundance of raw materials and natural resources, contributing to the region’s wealth. These include coal, limestone, zinc, lead, tin, natural gas, niobium, and iron ore. There is also sufficient fertile land for agriculture, which is responsible for over 20% of the GDP, producing cocoa and rubber. The large population have helped to propel Nigeria as the largest consumer retailer in Africa and the digitally aware residents have contributed to the country’s fast growing tech sector.
According to the World Bank, Nigeria’s GDP grew 7% year-on-year between 2000 and 2014, one of the fastest rates in Africa. This has slowed to 2% in recent years due to political instability, socioeconomic factors, and oil and production shocks. The country has placed a strong emphasis on protecting it natural resources, trying to move away from its large reliance on oil refineries and processing plants.
Known for its vibrant cultural heritage, different ethnicities, natural splendour, and large population, Nigeria remains the number one producer in terms of GDP output on the continent and Africa’s wealthiest country.
PRIMARY EXPORTS OF NIGERIA
Petroleum (crude, refined, and gas)
Vehicles and aircraft parts
2 | EGYPT (GDP: $469.094 Billion)
GDP: $469.094 Billion (nominal, 2023 est.)
Global Ranking: 33rd
GDP per capita: $4,504 (nominal, 2023 est.)
Real GDP growth: 3.3%
Country group: developing lower-middle income economy
Value of exports: $36.7 billion (2019 est.)
Current account balance: −$15.386 billion (2022 est.)
Currency: Egyptian Pound (EGP, E£)
This ancient land in Northern Africa held the spot of the richest country in Africa for many years. However, the economy suffered severely and foreign exchange reserves tumbled following the 2011 revolution during the Arab uprising. With the most recent GDP of more than $400 billion, Egypt now holds the second spot on this rich Africa list.
Economic activities have improved and stabilised over the last decade to experience positive economic growth. The government recently concluded an economic reform program alongside the IMF aimed at reforming and bolstering the economy.
Real GDP growth reached 5,6% in 2019, up from 5,3% in 2018. The country has also seen unemployment levels fall, an improvement in foreign exchange reserves, higher export of goods and services, and a bolstered tourism sector all contributing to its development.
>> Read next: Essential Egypt travel tips to know before you go
The leading factors of the Egyptian economy include petroleum and natural gas exports, tourism, wholesale and retail trade, construction, and real estate. The state has diversified its economy away from just raw material exports in recent years and over half of the GDP now comes from service based employment.
However, Egypt could face some socio-economic issues due to a large percent of people living below the poverty line, unemployment, a weak healthcare system, and a global slowdown.
PRIMARY EXPORTS FROM EGYPT
crude oil and petroleum products
cotton, textiles and agricultural goods
3 | SOUTH AFRICA (GDP: $411.480 Billion)
GDP: $411.480 Billion (nominal, 2023 est.)
Global Ranking: 39th
GDP per capita: $6,738 (nominal, 2023 est.)
Real GDP growth: 4.9%
Country group: developing upper-middle income economy
Value of exports: $89,396 billion (2019)
Current account balance: $11.944 billion (2022 est.)
Currency: South African Rand
This southernmost country in Africa is another significant player on the continent as the third richest African country. With a highly developed economy, advanced infrastructure, and a GDP of over $400 billion, the country is considered one of the fastest-developing countries in the world.
Often referred to as the rainbow nation, South Africa is one of the only countries on this list that is not reliant on a single source of revenue.
The country has a good mix of mining, manufacturing, financial services, and tourism. It is also abundant in natural resources and raw material exports the likes of gold, diamonds, platinum, coal, and iron ore.
It is one of the world’s largest exporters of these commodities, particularly gold and platinum. The country is world renowned as a major tourist destination and places a lot of emphasis on tourism as a part of its economy.
>> Read next: The best places to visit in South Africa
However, political and global turmoil have hindered its ability to meet its full potential. The country was faced with a recession after experiencing consecutive quarters of negative GDP growth rates and development has slowed, growing its GDP by only 0.2% in 2019, 1.1% in 2020, and 1.8% in 2021.
South Africa also has the highest rates of inequality in the world.
PRIMARY EXPORTS FROM SOUTH AFRICA
gold, diamonds, platinum, coal, iron ore, other metals and minerals
machinery and equipment, motor cars,
agricultural foodstuff, wine
4 | ALGERIA (GDP: $187.155 Billion)
GDP: $187.155 Billion (nominal, 2023 est.)
Global Ranking: 57th
GDP per capita: $4,151 (nominal, 2023 est.)
Real GDP growth: 3.4%
Country group: developing upper-middle income economy
Value of exports: $35,191 million (2017 est.)
Current account balance: −$12.492 billion
Currency: Algerian dinar (DZD, دج)
The largest country on the continent found in the north, Algeria comes in at fourth place on this list of wealthiest countries in Africa. Boasting a significant economy and available infrastructure and a GDP of just under $190 Billion, the county achieved a notable achievement of reducing poverty by 20% within the last 20 years.
Crude oil reserves are abundant in this developing Saharan country and the economy is heavily reliant on it. So much so that hydrocarbons (oil and natural gas) make up almost 70% of the income of the country. A recent discovery of more crude oil reserves have boosted this rapidly growing industrial country.
Other sectors that make up the Algerian economy include agriculture, industrial works, commercial services, and construction. The country is also one of the largest suppliers of Ammonia in Africa.
However, it is worth noting that the recent depression and instability in oil prices has resulted in a decline in the country’s currency reserves. In addition, political uncertainty and scandals in the hydrocarbon industry have caused a dip in Algeria’s economic growth.
PRIMARY EXPORTS FROM ALGERIA
petroleum, natural gas and petroleum products
5 | MOROCCO (GDP: $142.874 Billion)
GDP: $142.874 Billion (nominal, 2023 est.)
Global Ranking: 60th
GDP per capita: $3,715 (nominal, 2023 est.)
Real GDP growth: 4.5%
Country group: developing lower-middle income economy
Value of exports: $29,328 million (2019)
Current account balance: −$3.867 billion (2022 est.)
Currency: Moroccan dirham (MAD)
With a GDP of over $140 Billion, Morocco comes in at number 5 on this list of richest countries in Africa. The economy of this country in North Africa is versatile and stable, experiencing growth in a number of industries over the last decade. It is the second-richest non-oil-producing African country.
The country’s economy is driven by mining and manufacturing. 30% of Morocco’s GDP comes from industry, 15% from agriculture, and 55% from services.
This is supplemented by a growing tourism sector with locals being welcoming of tourists and the government placing a strong emphasis on attracting visitors to the country that is well known for its attractions.
Morocco relies heavily on its agriculture and is the third largest producer of phosphorus in the world. The country has benefited greatly from its diversified exports, not limited to electrical equipment, vehicles, and vehicle parts. Additionally the telecom and textile industries bring a lot to the economy.
However, Morocco has experienced stunted economic growth owing to internal problems, with real GDP growth of only 2.7% in 2019, missing the World Banks’ estimate of 2.9%.
PRIMARY EXPORTS FROM MOROCCO
clothing and textiles
automobiles, aircraft parts, electric components
inorganic chemicals, crude minerals, fertilizers, petroleum products
citrus fruits, vegetables, fish
6 | ANGOLA (GDP: $124.794 Billion)
GDP: $124.794 Billion (nominal, 2023 est.)
Global Ranking: 61st
GDP per capita: $3,790 (nominal, 2023 est.)
Real GDP growth: 0.2%
Country group: developing lower-middle income economy
Value of exports: $2.289 million (2020)
Current account balance: $5.163 billion
Currency: Angolan kwanza (AOA, Kz)
The country of Angola has one of the biggest reserves of raw materials in Africa.
Essentially, it could be higher up on this list of Africa’s richest nations. However, due to resource mismanagement and internal corruption, the economy of the country has been negatively affected. With a GDP of over $124 Billion, it comes in at number 6 on this list.
Angola’s economy is built on oil, with large reserves of natural gas and oil, making up over one-third of its GDP. The production and export of crude oil contributes significantly to foreign exchange. In fact, 90% of the nation’s revenue in the export sector comes from the sale of crude oil.
Other noteworthy exports include diamonds and cargo ships. Agriculture is also expected to become an important sector for the economy going forward.
The civil war in Angola ended in 2002. Since then positive steps have been taken, striving towards economic advancement and stability. There has been work on both political and structural reforms alongside the IMF and the World Bank. Since then, the country has experienced one of the fastest growing economies in the world and become one of the richest African countries.
PRIMARY EXPORTS FROM ANGOLA
crude oil, refined petroleum products
coffee, sisal, fish and fish products, timber, cotton
7 | ETHIOPIA (GDP: $113.181 Billion)
GDP: $113.181 Billion (nominal, 2023 est.)
Global Ranking: 64th
GDP per capita: $1,097 (nominal, 2023 est.)
Real GDP growth: 2%
Country group: developing low income economy
Value of exports: $7.6 billion (2019 est.)
Current account balance: −$2.663 billion
Currency: Birr (ETB, ብር)
Found in the horn of Africa, the landlocked country of Ethiopia split by the Great Rift Valley is the eighth richest country in Africa.
With archaeological finds dating back over 3 million years, this ancient land is famous for being the place where the coffee bean first originated. The nation is the highest coffee and honey producer in Africa, making up a large portion of the country’s foreign exchange. Other exports include legumes, oily seeds, and cut flowers.
The GDP of more than $100 billion comprises agriculture, construction, manufacturing, tourism, food processing, resources, and energy. Agriculture is the region’s most promising resource, making up over 40% of the GDP, 60% of exports, and more than 80% of total employment.
Ethiopia’s economic growth has averaged 9.9% year-on-year for 10 years since 2008. This stable annual growth, something that very few African have managed, has begun to attract foreign investment.
In 2018, the government launched an ambitious economic reform to open up the economy even further and spearhead transformation. The country’s poverty level fell to 31% by 2015 and it intends to be a middle-income economy by 2025.
However, high consumer inflation, socio-political instability, and an underdeveloped private sector are issues to keep an eye on.
PRIMARY EXPORTS FROM ETHIOPIA
coffee, qat, oilseeds
gold, leather products, live animals
8 | KENYA (GDP: $110.858 Billion)
GDP: $110.858 billion (nominal, 2023 est.)
Global Ranking: 67th
GDP per capita: $2,081 (nominal, 2023 est.)
Real GDP growth: 5.6%
Country group: developing lower-middle income economy
Value of exports: $5,836 million (2019 est.)
Current account balance: −$5.517 billion
Currency: Kenyan shilling (KES, KSh)
Kenya, a country in East Africa well known for its vast landscapes and wildlife is next on Africa’s richest country list, having a GDP of over $100 Billion.
This nation with its stable living conditions, an established coffee and tea sector, and rapidly growing agricultural sector is the wealthiest in southeast and central Africa.
Historically, its coastline has been home to a number of strategic ports for Asian and Arabian traders for centuries, becoming a trade hub for the region. The Kenyan economy is not built around the oil sector like so many other countries on this list, but still experiences diverse positive growth.
The Kenyan nation has emerged as one of the fastest growing economies in Sub-Saharan Africa, growing GDP by 5.7% in 2019. This as a result of positive investor confidence, a stable political climate and service sector, a good macroeconomic environment, and a clear business agenda.
The industrial sector contributes almost 50% of the GDP. The agricultural sector contributes to 35% of the GDP with the main products being coffee, tea, and, maize. Fast growth was also experienced in the tourism, financial services and technology industries, while petroleum comprises a significant part of its foreign exchange.
PRIMARY EXPORTS FROM KENYA
tea, coffee, horticultural products
fish, cement, apparel
9 | TANZANIA (GDP: $76.582 Billion)
GDP: 76.582 Billion (nominal, 2023 est.)
Global Ranking: 76th
GDP per capita: $1,245 (nominal, 2023 est.)
Real GDP growth: 4.3%
Country group: developing lower-middle income economy
Value of exports: $3.669 million (2018)
Current account balance: –$2.241 billion (2022 est.)
Currency: Tanzanian shilling (TZS, TSh)
With a GDP of over $75 Billion, Tanzania just makes this list of wealthiest countries on the African continent coming it at number nine. Known as the home of some of the continent’s most famous national parks and of course Kilimanjaro, the country comprises a lower-middle mixed income economy.
The country’s economy is largely based on agriculture, contributing almost 25% to GDP, and employing half of the workforce.
Industries are a growing component of the economy, which accounts for almost 30% of GDP and includes mining, manufacturing, construction, electricity, natural gas, and water supply. The main exports include gold, coffee, cashew nuts, and cotton.
Tanzania has achieved a relatively high economic growth in recent years, with a 5,6% growth rate, but this does seems to be slowing down. The medium-term economic outlook is positive, supported by large infrastructure spending, with real GDP projected to grow 5.8% in 2022 as a result of the reopening of trade corridors and improved tourism sector performance.
However, despite economic growth and the poverty rate having decreased in the past few years, the absolute number of people living in poverty has remained the same.
PRIMARY EXPORTS FROM TANZANIA
gold, cashew nuts, coffee and cotton.
10 | GHANA (GDP: $75.996 Billion)
GDP: $75.996 Billion (nominal, 2023 est.)
Global Ranking: 77th
GDP per capita: $2,368 (nominal, 2023 est.)
Real GDP growth: 4.1%
Country group: developing lower-middle income economy
Value of exports: $16.768 million (2019 est.)
Current account balance: $11.944 billion
Currency: Cedi (GHS, GH₵)
Rounding up this list of the top 10 richest African countries is Ghana, with a GDP just shy of $76 billion over the last year.
Ghana, found in West Africa, has an economy that is both diverse and rich in resources. The country was the first in sub-Saharan Africa to break free from colonial rule as well as the first to achieve the target of halving extreme poverty.
The nation has attracted foreign investment due to its overall positive business environment, experienced economic growth of just over 6% in the last two years.
Services contributes to around 50% of the Ghanaian GDP and employ almost 30% of the work force. Industry is the next biggest contributor to GDP at just under 25%, followed by agriculture.
Ghana has an abundance of natural resources, helping to feel an economic boom. Gold is the country’s main export. This is followed by petroleum and together they make up 50% of the country’s foreign exchange. Other major exports include cocoa beans, timber, and gold.
PRIMARY EXPORTS FROM GHANA
gold, bauxite, aluminum, manganese ore, diamonds,
cocoa, timber, tuna, horticultural products
Let’s take a look at another way to quantify the wealth of an economy:
Richest African Countries by GDP per capita
As mentioned… there are several ways to compare the wealth of country. GDP, as shown above is one such popular and most commonly-used metric.
The problem, however, is that GDP does not necessarily provide a complete or candid picture of the situation. While GDP accurately shows how productive a country is, it fails to portray the economic situation of individuals with that country i.e. how rich or poor the citizens are.
That’s where GDP per Capita comes in, calculated as the total value of good and services produced by a country (GDP) divided by the population size. This provides an average GDP for individuals within the country and provides an indication as to how well-off the locals are.
Based on this measurement the top 10 wealthiest countries in Africa 2023 are:
|Rank||Country||GDP Per Capita 2023 (International Dollar)|
Before you go, let’s take a look at:
What are the wealthiest African countries in terms of natural resources
This beautiful continent has been endowed and blessed with an abundance of natural resources. Some countries more than others. African countries hold the most amount of principal resources such as diamonds, platinum, cobalt, zirconium, and gold to name a few.
Let’s take a look at which nations in Africa are rich in fertile land and mineral resources.
|Tanzania||tanzanite, diamonds, gold, silver|
|Democratic Republic of Congo||cobalt, copper, diamonds, coltan, oil, tin, gold|
|Namibia||uranium, zinc, diamonds, lead, sulphur, tantalite, copper|
|Niger||uranium, gold, cement, coal|
|Nigeria||oil, gas, coal, uranium, marble, tantalite, salt, gold, gemstones|
|Ghana||gold, crude oil, diamonds, manganese, silver, bauxite|
|South Africa||diamonds, gold, coal|
|Botswana||diamonds, nickel, copper, coal, soda ash|
|Zambia||copper, cobalt , emerald|
Did you know: Who is the richest man in Africa
With a net worth of $13,5 billion, Aliko Dangote, is Africa’s wealthiest. His business empire started at the age of 21 with $3,000, borrowed from his uncle. This business of importing and selling agricultural goods in Nigeria has since grown into a multinational industrial conglomerate.
I hope you enjoyed reading and learning more about the richest countries in Africa 2023.
Did any on this list surprise you at all? Let me know in the comments.
>> Read next:
- List: African countries and their capital cities
- Revealed: The best countries to visit in Africa
- How to say THANK YOU and HELLO in Africa
- 200+ Africa quotes to inspire you
- Can you guess what is the safest country in Africa?
- Exactly how many countries are in Africa?
- 15 countries with the MOST beautiful sunsets in Africa
- Your guide to the smallest countries in Africa
- 10 best jobs to make money and travel the world
No way Tanzania is ahead of DRC- Congo in term of natural resources
Oh Well hey they ain’t wrong
Tanzania has so much resources which some of them are yet to be discovered
It’s not about amount of resources that are lying idle under ground, it’s about the amount of resources a country is mining and exporting as raw materials or finished products
Awesome! Thanks for all the research. It’s truly an awesome post, I have got a much clearer idea concerning Africa and its riches from this.
I’m glad you learned a lot about Africa. Thanks for reading!
it is true that tanzania is the only country in africa with many resources as even some resources have not been made clear this indicates that there are enough resouces
I believe that we are awesome people in Africa. I learnt a lot from this article. God live us all together. Thanks for responding
I believe so too. Thanks for reading!
In 2030 ethiopia will be leading country in africa
Nice one! In which way?
Thanks for your statistical data/information… This shows Africa is the future richest continent in the World
It sure is 🙂 Thanks for reading
not only in the future but even now africa is the richest continent
Funny how about Ethiopia don’t you know ethiopia have Gold,Potasium,Salt and so on but you don’t meansion any of that why we are not coloni lozzzz
I will research and confirm all of this and update accordingly. Thanks for letting me know
This is wonderfully made. It is a nice job about wealth in Africa. Keep on following up Tanzania after ten years, it will will be among the top five in many areas.
Thanks a lot. Appreciate it. Will be keeping a close eye on Tanzania (and East Africa in general)
Funny thing about Tanzanians is that they don’t know anything about GDP.
Funny thing is that most of Africa doesn’t know it either. I spent 5 years in Tanzania as a young’un in the 80s and loved it. GDP has nothing to do with it.
Sad thing is that corruption that is rampant in African nations has nothing to do with Africans.
Thanks for this information. But what’s the status of Uganda in Africa then.
Uganda should have actually joined this list of 10 richest African Countries but Corruption and uncertainty in the politics makes everything impossible.
We are a nation with good fertile land, highest population on Young people in the world, tourism destination, Agriculture and just a few years ago we joined the rest of the oil producing nations to export crude oil.
The population of Uganda is ranked the most entrepreneurial in the world but hey, Africa is Africa
Nigeria 🇳🇬 should be far better than this and should have been Top 10-15 in terms of GDP in the world. Nigeria shouldn’t be completing with others Africa 😢 we are far..
But our leaders are too Greedy.
I love Nigeria as a country, and i see no where like my country.
Here in Southern part of Nigeria, we are above Middle class eaners, abundant of job and Above average standard of living.
But Nigeria problem is the Northern part, as they are the 99.9% problem to the Nation in-terms of Higer birth rate, Corrupt politicians, low income earners and Highly insecurity alert. Which is affecting our Human Domestic Index for the whole nation.
How i wish southerners Nigeria are seperated from the North, I bet you Southern Nigeria will still Top the whole Africa Economy and be included in Top 10 HDI in Africa.
It’s time Africa wake up💪 if we have 10 of Nigeria as a country in Africa, and 10 of Egypt & South Africa, Western countries will not Tag Africa as the Poorest continents in the Universe.
Oh God arise and Heal our land AFRICA 🌍
Democratic Republic of the Congo should be better than any other African country.but an unfortunate comes along with corrupt politicians wars and poor infrastructure, despite the fact that DRC is the most and number one richest country in terms of natural resources in Africa and can even appear on the world class
list for it’s abundant natural resources reserves …but GDP is still below.But the God of Patrice Lumumba is with us, our Congo will shut down mouths of enemies just like how Nigeria did. Long live Africa, it’s our let’s support each others as brothers or persh, now or never.🇨🇩🇨🇩🇨🇩
Acha ujinga, ukijua GDP inakusaidia nini huko kibera na pokot?
Good job, great to hear this!!!
truly Africa is a blessed continent!!!, Apart from minerals, Tanzania also has HELIUM (non renewable GAS)
Blessed indeed 🙂 Thank you for reading
Nice to have this results
what happening, zambia as got a huge down fall in these past couple of years
Yeah, I noticed the same thing. Hope things turn around for this country.
Oh Uganda may God uphold thee.
We are the Pearl of africa
I used to sing it as:
“Oh Uganda, may God apodie,
We lay a feature in the high,
United, three four liberty togeda we always stand.”
Yes, I was still under 10yrs old. 😂😂😂
haha my neighbour people
I am happy that Nigeria is number one .
May God continue to Guide and protect the economy Amen
whooo go kenya
would’ve been higher on this list if only extreme political corruption were eradicated…too many political loopholes rife with corrupt entities at both national & county levels
Fantastic site! Gained a wealth of information.
Ah thank you so much!
Thank you for the information, very insightful
Good job, I have learnt a lot from your article.
Glad to hear. Thanks Nic!
In Kenya we don’t have visionary leaders, corruption is the order of the day,it is only in Kenya where someone can pray and and Satan dirrects her/him where there is a tender.Ooo!!God help us redeem our country from corrupt leaders.
Thanks a lot hey! am very informed now of our lovely continent’s (Africa) wealth.
You’re welcome. Thanks for reading!
Thanks for reading!
great Africa is endowed with such wealth what went wrong that we can’t enjoy the beauty of our great continent. Africa oh Africa wake up from your slumber
This is true. We need to use the resources and wealth wisely, and channel this to the rightful people so that everyone can enjoy
How painful it is to see the natural resources of Africa being exploited by those that should be protecting her.
Yes,I’m surprised Egypt isn’t #1 my next candidate for #1 was South Africa or Morocco, oh,my my my beautiful Ethiopia . Thank you for a very informative article it’s eyes opener. Well done
You’re welcome. Yeah, let’s keep an eye on amazing Ethiopia
Wow.so good to see Nigeria as number 1,it sounds unbelievable tho I’m a Nigerian, can’t wait to visit other countries in Africa.
Me too. Can’t wait to see and discover all of beautiful Africa!
Nigeria we move💪🏾
Ooooooh. Yeah welcome Bongo Land..🇹🇿🇹🇿🇹🇿🇹🇿
Thank you very much may God bless you. Please I want you to keep more eyes on Ghana for me. Proud to be an African thank you
Thank you. God bless you too!
Thank you very much for this article. Good research, but more resources are found in Tanzania
Thanks, I’ll take a look
Thanks for the info and I’m ethiopian.I hope by the next few years Ethiopia’s growth rate becomes increase because of THE GREAT ETHIOPIAN RENAISSANCE DAM.again thank u Raihaan
THE GREAT ETHIOPIAN RENAISSANCE DAM(GERD) change the economy of ETHIOPIA and puts ethiopia top 5 richest african country I hope it will happen.thank u for the info Raihaan
Africa as a continent has all the resources, we need. We dont need Europe, infact they need us more than we need them. That is why our currency is low compared to USD, EURO and POUND STIRLING. They paying us peanuts for our resources, then we buy it back at exorbitant prices. Also our African leaders and Presidents are corrupt.
You spoke my mind. 🙏
true fact’s bro ,teacher us
What’s ailing Tanzania, with all the mineral wealth ,huge population it should be far above Kenya in terms of GDP.
Kenya is the richest non mineral economy in Africa, possibly with Maroc. With it’s highly developed education and research capabilities it could be Africa’s biggest and most advanced economy in five to ten years, barring graft and the high cost of power.
Tanzania is the most endowed in mineral resources I in Africa. It has also large portion of arable land. It has therefore a big potential of being top five in Africa. Kenya on the other hand, though it hasn’t large portion of arable land depends much on industry of its people and technological exploits of its youth. If the can finance research and technology and help the youth, subsidize on farm inputs in 8 years Kenya will be top 3 ! Ethiopia is also expected to be in the top 5 or even overtake Kenya if Kenya slumbers a bit.
Kenya is decades ahead of Tanzania in economic fundamentals and technology and most of Africa as regards a strong private, independent institutions, a progressive constitution, political stability, science and research capacity and trained manpower. It’s economy is very diverse.
Tanzania is moving forward ,Africa is moving forward
This is wonderful thanks for sharing can you also digg in the history of how this successful countries made their wealth we can learn alot from them .
Sure 🙂 Sounds like a great idea
Nigeria is poor,we are sufferings,u lair, south African is the richest not Nigeria, useless politician and leadership,are killing us you people should come to our rescue,
Yeah we are not poor, we are very rich self it’s just that our politicians are greedy and corrupt
Nigeria and her citizen are extremely rich bro, the only problem we have is bad government .
Nice piece of information. Thanks so much. God bless u. Indeed we are blessed in Africa. I love it
With all this wealth, every single African person living in their country in Africa should be walking around wearing gold a jewels just like it’s another item of everyday clothing.
Agreed. It’s such a pity that this wealth is not channelled properly and funnelled down to every African citizen
I think the major setback in almost all African countries is lack of good government.
This breeds corruption, poverty, crime etc.
If African teeming population can wake up from Their slumber and demand for good governance and accountability, this continent will surely be the best in the world.
Nigeria suppose to be in thesame league with German, not just being a local champion but a global force to reckon with.
I hope to see the Africa of our dream in our lifetime.
I 100% agree with this. Potential to be the best in the world
I agree Kenya’s got vast potential in youth and technology. These factors do propel industrial growth exponentially by reducing dependency on western expatriate imports and aid. With the right politico-social chemistry, the sky is the limit.#1
I’m so happy about Tanzania 🇹🇿 Please keep us posted
I’m so glad to hear that my country is the richest country in Africa wow that’s good well am still gonna visit other Africa countries
Sierra Leone you can do it.
We must support each other as Africans, its pain to witness the complains between Egypt and Ethiopian, Nile is Africa we are all African, using the nile individual is selfishness. I support Ethiopians for their Dams project.
Also Im too happy, my country is on the list 🇹🇿🇹🇿🇹🇿
africa is indeed rich in resources, if we can only be able to make something good out of them instead of selling them to overseas country
I keep on wondering how Kenya can get a slot among the richest in Africa. With a population of less than 50 million, no natural resources, rampant corruption and mismanagement of tax revenue, it still baffles me that were are number 6 in Africa. Kenya is a small country less than half of Tanzania. Kenya has more than half of it’s total area, in semi-arid, we import alot of agricultural products from Tanzania and uganda.
I still feel we were short-changed during the Berlin conference, since they would have been joined with Uganda as one country. In that case, the land size would atleast be three quarters of Tanzania. The population would be around 90 million, (about the size of Ethiopia). The country would be self sufficient in food production. Some deposit of oil would contribute greatly to the GDP. Coupled with the agility, business acumen and entrepreneurial vigour that Kenyans have, i believe we would be top in Africa.
Tanzania has been asleep for so long. With vast natural resources, it will take them more than 30 years to overtake Kenya.
You are too pessimistic about Kenya ignoring it’s obvious technologic, technical and high training manpower rates. Natural resources and landmass or population are no obvious advantages. The credentials of modern supremacy are technologic and strong economic fundamentals where Tanzania is decades ahead of Tanzania.
I am proud for the research but kenya should be the wealthiest country in east africa before 2023
Tanzania is one of the world’s most resources blessed country. Best national parks, African peak (Kilimanjaro), all types of minerals, animal keeping, cultural heritage, tourism, peace and hospitality. I wish it must become world’s top country
Africa is blessed, but our problem is that we don’t have visionary leaders. We have been ruled by old and greedy politicians who don’t value the future of our unborn generations. Am a Nigerian, I believe that we are the richest and yet our citizens are living in abject poverty.
We Africans are blessed by God with so much wealth, we have wrong political leaders in power and we have odds against us,
we are still in spider web of our old colonies who till this day benefit from our resources. By managing outside the country by setting a political puppet. We need to wake up, some country are in advance of other but that is still going on and that’s a shame we need to be united just like we used to be. Protect our resources and future from intruders who come and take what they want and our nations live in poverty. I’m Somalian, I’m having nostalgia when we had our headquarters in Mogadishu as united Africans. Keep your head up my Africans king’s and Queens. Let’s rewrite our future, I know we have it in us, we are sent for greatness.
So many things I didn’t know about Africa and the countries that are located in Africa Thank you I’ve learned alot and interested to learn more.
You are welcome.. Thanks for reading
African continent is the most richest continent, known for its minerals like oil, diamonds, gold, and others, though these minerals had been exploited for more years, making African land exhausted. Africa as a continent is currently waking up by first, having the fastest growing economies in countries like Tanzania, Ghana, Benin and others. Secondly, most African countries are in the “lower middle income.” Africans for Africans, let’s strive to support our nations and promote peace 🕊️. Remember we cannot develop without unity among ourselves*******🇰🇪🇰🇪🇰🇪🇳🇬***R
100% agreed. I could not have said it better myself. Thanks for this
Thank you for the updates. For sure I live in this planet but I was pretty green about localizing it countries with the natural resources and economy but you have made me know a lot about my continent. Live long Africa. You are a beautiful and green place to live in the future.
God bless my country Ghana 🇬🇭. May we move from good to best. 🙏🏿🙏🏿🙏🏿
Africa has the potential to be the richest
continent in the world we just have to get rid of greedy old man as our leaders
African leaders must stop their multiple terms in office and their corruption and ONLY then it’s people would thrive economically
Greed in polititians are the main cause of a poor Africa
It must be remembered that WE vote for them….we cause or keep our “poor Africa” state in tact….
I couldn’t agree with you more…
The first shall be the last. One day, someday , Uganda will be in top lol
Amen, continue praying for our country
Hi thanks for that research, keep up
My wish is to see the African continent become one country with one currency, one president, one capital city, one parliament and one judiciary
This is also my wish,,, Africa to become one country,, one currency,,, one nation,,, Gadafi had this Vision but the whites never wanted this to happen
With all these rich resources, Africa is still borrowing and her people are suffering. Selfish Leaders
May Allah S.w.t give us rightful leaders who have the Africans at heart.