Top 50 Richest Countries in Africa 2023 (Over $30,234,678,675)

In today’s post, you will know the top 50 richest countries in Africa by GDP. I know Nigeria is on the list of top 10 richest countries in Africa but let’s discover the rest.

 

Do you have questions such as Which is the richest country in Africa?

 

 

If you wish to find out then make sure you read this post line by line. 

 

 

So what should you be expecting from today’s post? 

 

 

• You will know what a GDP is 

 

• What is GDP Per Capita 

 

• You will be able to see which country is the richest in the continent of Africa

 

• You will also be able to know the most effective way to measure a countries wealth

 

 

 

As you can see, you already know you will be getting a ton of value from these richest countries in Africa ranking. 

 

 

Now let’s dive in, shall we? 

 

 

The two metrics I will use to rank each of the countries that make up this list of the richest African countries in 2023 are:

 

 

• GDP

 

• GDP per capita 

 

 

but why these two metrics you may ask right? 

 

 

It’s simple! 

 

 

These are the two most effective ways to measure a countries wealth. 

 

 

So what is A GDP?

 

 

Well according to Investopedia Gross Domestic Product (GDP) is the monetary value of all finished goods and services made within a country during a specific period. GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate.

 

 

And finally what is GDP per capita?

 

 

According to Thebalance GDP per capita is a measure of a country’s economic output that accounts for its number of people. It divides the country’s gross domestic product by its total population. That makes it a good measurement of a country’s standard of living.

 

 

Top 10 Richest Countries in Africa By GDP

 

 

I decided to break this down into top 10, top 20, and top 30, top 40 and top 50.

 

 

because I want you to be able to scheme this post with ease. 

 

 

and the first on this list is the top 10 wealthiest country in Africa. 

 

Now, you are starving so I have to quench your taste before you pounce on me… 

 

 

Lolz! 

 

Now, what are the top 10 richest countries in Africa? 

 

 

Here is a list of the top ten richest countries in Africa by GDP. 

NO	Country	Net worth
1	Nigeria	GDP $463 Billion
2	South Africa	GDP $346 Billion
3	Egypt	GDP $263 Billion
4	Algeria	GDP $235 billion
5	Morocco	GDP $263 Billion
6	Angola	GDP $263 Billion
7	Ethiopia	GDP $91 Billion
8	Kenya	GDP $89 Billio
9	Tanzania	GDP $89 Billion
10	Ghana	GDP $89 Billion

Nigeria #1 Richest Country in Africa (GDP $463 Billion) 

 

Nigeria (also Naija or 9ja) is home to 200  million people. Nigeria gained its independence in the year 1960 precisely October 1st. 

 

She is by far one of the richest country in Africa by natural resources. 

 

But wait, that’s not all! 

 

 

Although this figure is due to the last census, I am sure by the time of the. next census, Nigeria would have surpassed 200 million people. 

 

Nigeria is one of the most populated black countries in the world blessed with several mineral resources. 

 

However, lack of productive reforms to mime all her natural resources has made the. countries to focus more on her major export. 

 

Guess what that is? 

 

It’s the all and mighty crude oil… 

 

This natural resource amounts to over 85% of the total revenue Nigeria makes. 

 

and this act as the pillar which generate funds to cater to other sectors of business in the country. 

 

While oil amounts as the country major export taking a whopping 84%, here is a list of Nigeria major exports. 

 

• Natural gas 

 

• Crude oil 

 

• Fruits 

 

• Nuts 

 

• Ship and boat 

 

Politics and corruption have further dwindle the chances of this country rising up to its full potential.

 

but I love Nigerians because they are scholars.

 

I know I have stated things like corruption and politics affecting the economic growth of the country. 

 

but hey the Ranking of the richest countries in Africa sees Nigeria sit atop this list. 

 

So what is Nigeria GDP? 

 

Nigeria has a Gross Domestic production of over $463,000,000,000 ($463 billion) at a GDP growth rate of 0.8%. This put her ahead of the pack as the country with largest economy in Africa. 

 

I have highlighted some key details below… 

 

• Country Name: Nigeria 

 

• Independence: 1st October 1960

 

• Currency: Nigerian Naira (NGR) 

 

• Sources of income: Crude oil, ship and boat, agriculture

 

• Nigeria Population: 200 million plus 

 

•  GDP: 463 billion-plus 

 

South Africa #2 Richest Country in Africa (GDP $346 Billion) 

 

South Africa is home to to over 53 million people. SA gained her independence in the year 1961 May 1st. 

 

Now let me shock you a bit, do you know that more than half of the South African population are females? 

 

Females in South Africa make for about 51.8% of the country’s population which is more than 29 million of her total population. 

 

A larger chunk of African countries all have one thing in common, and this is corrupt leaders. 

 

but amidst all that corruption comes something breathtaking which I want you to know. 

 

Guess what that is? 

 

South Africa is the second richest country in Africa 2023. 

 

but what is South Africa’s GDP? 

 

SA has a gross domestic product of $346, 000,000,000 ($346 billion) which makes it the second-largest economy in Africa. 

 

This figure is achieved due to the SA 2019 GDP growth rate of 1.2% which is above the forecasted growth by IMF in 2018.

 

SA major exports are Diamonds and gold which has helped put her economy as one of the most stable in the African continent. 

 

Having said, here is a list of South Africa major exports. 

 

• Gold 

 

• Diamonds 

 

• Platinum 

 

• Cars 

 

Here is some key takeaways from this! 

 

• Country Name: South Africa 

 

• Independence: 1st May 1961

 

• Currency: South African Rand (ZAR)

 

• Sources of income: Gold, Platinum and Diamond

 

• SA Population: 53 million-plus 

 

•  GDP: $346 Billion

 

Egypt GDP #3 African Richest Country (GDP $263 Billion) 

 

Egypt also is known as the land of the pharaohs is home to a population of 97.55 million people. 

 

The Pharaohs gained their independence long before any African country did with the exception of Ethiopia. 

 

Precisely her independence came in the year 1922 February 22nd. 

 

In Africa Egypt is regarded as the cradle of civilization as it is among one of the countries that first experienced the taste of civilization. 

 

Egypt is used to being a centralized economy in the 1990s but in the early 2000s. you and saw how this centralized economy gradually changed to a more market-oriented economy. 

 

Egypt major exports includes natural gas and non-petroleum product. 

 

All of these accounts for a larger source of her income which is, in turn, is used to finance other sectors of the county’s economy. 

 

Here is a list of some of Egypt’s major export… 

 

• Natural gas

 

• Non-petroleum produce 

 

• Fruits 

 

• Dried onion 

 

• Cotton Textiles 

 

Politics may also be slowing the growth of the Egyptian economy but. overall if you are the 3rd on a list of top 50 richest countries in Africa then perhaps no reason to complain right? 

 

Well, I guess I would have to leave that answer to too. 

 

What’s Egypt GDP? 

 

Egypt GDP in 2020 amount to $235,000,000,000 ($235 billion) with an annual GDP growth rate of 5.6% as at 2019.

 

Now here is a bulleted list of some key takeaways… 

 

• Country Name: Egypt

 

• Independence: 22nd February 1922

 

• Currency: Egyptian Pounds (EGP)

 

• Sources of income: Natural Gas, Non-Petroleum produce and Agriculture

 

• SA Population: 97 million-plus 

 

•  GDP: $235 Billion

 

Algeria #4 Wealthiest African Country (GDP $263 Billion) 

 

Algeria is the home to a population of 41 million country nationals. 

 

She gained her independence in the year 1962 precisely July 5th. 

 

but this independence came at a cost which saw so many lives taken during the Algerian of Independence. 

 

and in the year 1962 Charles De Gaulle pronounce the Algerian an independent nation. 

 

Algeria has experienced an economic boost thanks to her recovering oil and gas sector which. 

 

Algeria major export is oil and gas and this accounts for a large number of her economic gains. 

 

and here is a list of some of the goods Algeria export to raise revenue which caters to other sectors in the country. 

 

• Crude Petroleum Oil

 

• Petroleum gas 

 

• Ammonia 

 

• Coal Tar

 

but then what is the GDP of Algeria? 

 

Well, As 2019 Algeria has a Gross domestic product of $170,000,000,000 ($170 billion). 

 

This saw an annual GDP growth rate of 1.7%.

 

Having said that, here is some key points you need to know… 

 

• Country Name: Algeria 

 

• Independence: July 5th 1962

 

• Currency: Algerian Dinar (DZD)

 

• Sources of income: Crude oil, Petroleum gas, Coal tar

 

• Algeria Population: 41 million-plus 

 

•  GDP: $170 Billion

 

Morocco #5 African Rich Country (GDP $119 Billion) 

 

Algeria is the 5th most richest countries in Africa and it’s home to a population of 35 million people. 

 

Do you know that Morocco gained her independence after signing a joint declaration in Paris? 

 

This joint declaration was aimed at replacing Fez Treaty which was created in 1912. 

 

Precisely Morocco gained her independence in the year 1956 March 2nd.

 

Morocco’s economy in the world order is considered Liberal which is governed by the economic law of supply and demand. 

 

The privatization of some economic sectors which was being controlled by the government began in 1993. 

 

and this bold step alone as seen several positive impact in the countries economy. 

 

However, what has led to a stable economy in Algeria can be chalk down to her major exports. 

 

Morocco major exports include Textiles and phosphate amidst others. 

 

This accounts for a mega source of the country’s income. 

 

and her major export partners include countries like Spain, France, and Italy which all belong to the European Union. 

 

Here is a list of goods exported by Morocco… 

 

• Phosphate 

 

• Textiles 

 

• Fish 

 

• Inorganic chemicals 

 

So what is the GDP of Morocco? 

 

Morocco in 2020 averaged a gross domestic produce of $119,000,000,000 ($109 billion). 

 

According to AFDC this brings about an annual GDP growth rate of 1.7%.

 

This are the major point to take home from this section! 

 

• Country Name: Morocco 

 

• Independence: 2  March 1956

 

• Currency: Moroccan Dirham (DH)

 

• Sources of income: Textile, Phosphate, Fish and inorganic chemical 

 

• Morocco Population: 35 million-plus 

 

•  GDP: $119 Billion

 

Angola #6 Richest Countries in Africa (GDP $91 Billion) 

 

Angola is the 6th on this list of top 50 richest countries in Africa. and it’s home to a population of 29 million people. 

 

Angola gained independence in the year 1975 precisely on the 11th of November. 

 

Angola gained her independence but not without a war caused by cotton cultivation. 

 

Portugal colonized Angola and their heritage is sprinkled around the Angolan colonial history. 

 

Angola major source of income stems from her export of crude oil. 

 

Crude oil amount to about 90% of the country’s total exports… 

 

Here is a list of things Angola export to other countries. 

 

• Crude oil 

 

• Diamond 

 

• Fish 

 

• Sisal

 

So what is the GDP of Angola? 

 

Angola in 2020 averaged a gross domestic produce of $91,000,000,000 ($91 billion).

 

This growth is accompanied by an annual GDP growth rate of 4.5%.

 

Take note of this bullet points below! 

 

• Country Name: Angola 

 

• Independence: November 11 1975

 

• Currency: Angolan Kwanza (AGK)

 

• Sources of income: Crude oil, Fish, diamond 

 

• Angola Population: 29 million-plus 

 

•  GDP: $91 Billion

 

Ethopia #7 Richest Country in the Africa Continent (GDP $89 Billion) 

 

Ethiopia is the only country in Africa that got her independence before the 1950s.

 

Ethiopia is the oldest independent country in Africa and home to 105 million people. 

 

She gained her independence after defeating the Italians in 1896 on the battle of Adwa and again in 1933.

 

The economy of Ethiopia is both a mixed and transition economy with a rather gigantic public grounds. 

 

Adopting the strategy of privatizing business in the country is gradually taking Ethiopia to a market economy. 

 

So what is her major source of income? 

 

The major sources of her income comes from the export of Gold and Coffee. 

 

and both produce amount for 40% of the country’s total good export from the country. 

 

Here is a list of the major things Ethiopia exports… 

 

• Coffee 

 

• Khat 

 

• Oilseeds 

 

• Gold 

 

What is the GDP of Ethiopia then? 

 

Ethiopia in 2020 average a gross domestic product of 91,000,000,000 (91 billion). 

 

With an annual GDP growth rate of around 9.5%.

 

This is the highest recorded by any country in the world today. 

 

and here are some key details in summary to this! 

 

• Country Name: Ethiopia 

 

• Independence: 1896

 

• Currency: Ethiopian Birr (ETB)

 

• Sources of income: Gold, Khat, Coffee, Fish 

 

• Ethiopia Population: 105 million-plus 

 

•  GDP: $91 Billion

 

Kenya #8 Richest Country in the Africa Continent (GDP $89 Billion) 

 

Kenya is one of the richest countries in sub-sahara Africa and she gained her independence in 1963 on November 12th.

 

She is home to more than 49 million people in 2019 estimated population growth. 

 

The major industry in Kenya include fishing industries, financial service amongst others. 

 

She embraced a open market economy while operating as a liberalized external trade system.

 

What are the major source of her income? 

 

Kenya major source of income comes from her diverse export goods and example of these are horticulture and cement. 

 

Here is a list of some of Kenya’s major export… 

 

• Horticulture 

 

• Fish 

 

• Cement 

 

• Tea

 

but if she is one of the top ten richest countries in Africa then what is her GDP? 

 

In 2019 Kenya boost an average GDP of $89,000,000,000 ($89 billion) at an annual GDP growth rate of 5.7%.

 

Here is a complete detail you probably did not notice… 

 

• Country Name: Kenya 

 

• Independence: November 12th 1963

 

• Currency: Kenyan Shilling (KES) 

 

• Sources of income: Horticulture,Cement , tea, Fish 

 

• Kenya Population: 49 million-plus 

 

•  GDP: $89 Billion

 

Ghana #9 Richest Country in the Africa Continent (GDP $89 Billion) 

 

Okay I know this is becoming a very long list but hey it’s worth it right? 

 

After all this is an age of information and the more you know the better armed you are right? 

 

Having said that, Ghana is home to over 28 million people. 

 

She gained her independence in the year 1957 precisely March 6th. 

 

Kwame Nkrumah led Ghana to become a Republic and he is the man history remembers in history. 

 

Ghana economy is so diverse that this has helped propelled their success in recent years. 

 

I mean Ghana Cedi has even rose in value when compared to Nigerian Naira. 

 

Plus activities in manufacturing, exportation have led to a more stabilize economy. 

 

but what is Ghana major export? 

 

The simple answer is Gold, cocoa bean and timber… 

 

and in case you want a more robust list I will give you just a few here. 

 

Here we go! 

 

• Timber 

 

• Gold 

 

• Horticulture 

 

• Diamond 

 

• Tuna

 

Now that you and I know her the major export of Ghana now let’s find out more. 

 

What is the GDP of Ghana in 2020?

 

Okay, in 2019 Ghana boost of a GDP of $67,000,000,000 ($67 million) on a annual GDP growth rate of 6.7%.

 

and here is a little more tiny detail formatted in a bullet list for your easy understanding. 

 

• Country Name: Ghana 

 

• Independence: 1957

 

• Currency: Ghana Cedi (GH₵)

 

• Sources of income: Gold, Timber, Diamond 

 

• Ghana Population: 28 million-plus 

 

•  GDP: $67 Billion

 

Tanzania #10 Richest Country in the Africa Continent (GDP $89 Billion) 

 

Sometimes when you study you begin to realize that there is so much knowledge in the universe. 

 

Now if you love to study like me then you probably also know that knowledge costs money. 

 

Having said that Tanzania ranks number 10 on the top 50 richest countries in Africa list. 

 

She is home to a population of over 57 million people, and she gained her independence in 1961 December 9th.

 

Tanzania’s economy is the second-largest economy in Eastern Africa and the tenth in the continent. 

 

The economy of Tanzania gradually transition from a command economy to a market economy. 

 

but what is keeping her economy so strong right? 

 

Well let’s find out, shall we? 

 

Tanzania’s major export contributing to the economic growth is Gold, cashew nuts, coffee, and cotton. 

 

and here is a couple of her export listed below… 

 

• Gold 

 

• Cashew nuts 

 

• Coffee 

 

• Cotton 

 

Now let’s see where she stands in terms of GDP… 

 

What is the GDP of Tanzania? 

 

Tanzania has a GDP of $59,000,000,000 ($59 billion) and her annual GDP growth rate is 7.6%.

 

• Country Name:Tanzania

 

• Independence: 1957

 

• Currency: Tanzania Shilling (TZS) 

 

• Sources of income: Cotton, Cashew nuts, gold, coffee 

 

• Tanzania Population: 57 million-plus 

 

•  GDP: $59 Billion

 

Okay, this ends the list of top 10 richest countries in Africa but begins another! 

 

Can you take a wild guess? 

 

Well I will tell you anyway! 

 

Top 10 may have ended above but just below is the list of top 20 richest countries in Africa. 

 

Here we go! 

 

Top 20 Richest Countries in Africa 2020 By GDP

 

This is a continuation from the previous list of top 50 richest countries in Africa so come on let’s keep going… 

 

So what are the top 20 richest country in Africa? 

 

Here is a list below for you… 

 

• DR Congo

 

• Cote D’Ivoire

 

• Libya 

 

• Cameroon 

 

• Tunisia 

 

• Uganda

 

• Sudan

 

• Senegal

 

• Zambia

 

• Zimbabwe

 

DR Congo #11 Richest Country in the Africa Continent (GDP $48 Billion) 

 

DR Congo is home to 81 million people and she got her independence from Belgium in the year 1960 June 30th.

 

but like most economies ruptured by bad politics, DR Congo continues to suffer since the 1980s.

 

She is known to blessed with so much natural resources and minerals that’s used in the production of modern-day techs. 

 

but what happened? 

 

Well you will have to find that out all by yourself by doing a simple Google search. 

 

Having said that, what is the major export of DR Congo? 

 

DR Congo major exports include Cobalt and refined Copper. 

 

This accounts for the major source of income for DR Congo economy. 

 

and here is a list of more export products… 

 

• Cobalt

 

• Refined Copper 

 

• Cobalt Ore 

 

• Hydroxides

 

but what is her GDP that’s made rank relatively high up this list? 

 

Well, DR Congo GDP stands at $48,000,000,000 ($48 billion) with an annual growth rate of 3.5%.

 

• Country Name: DR Congo

 

• Independence: December 9th 1960

 

• Currency: Congolese Franc (CDF)

 

• Sources of income: Cobalt, Refined Copper 

 

• DR Congo Population: 81 million plus 

 

•  GDP: $48 Billion

 

Cote D’Ivoire #12 Richest Country in the Africa Continent (GDP $45 Billion) 

 

Ivory Coast became an independent country in the year 1960 August 7th. 

 

She is home a population of more than 24 million people. 

 

The economy of Cote d’Ivoire is a market-centric economy and in recent years the economy has been steady. 

 

and have continued to grow constantly after experiencing problems in their political sector for the past 10 years. 

 

Today, over 65% of her export is agricultural, due to the country being a very fertile land for cultivation. 

 

but what is the major export of Cote D’Ivoire? 

 

Ivory Coast major export stems around Cocoa, palm oil, petroleum. 

 

Here is a list of some more export products… 

 

• Cocoa 

 

• Petroleum 

 

• Fish 

 

• Palm Oil 

 

• Bananas

 

Now what is the GDP of Ivory Coast? 

 

Cote D’Ivoire has a GDP of $45,000,000,000 ($45 million) with an annual GDP growth of 7% as of 2019.

 

Here is a summary for you… 

 

• Country Name: Ivory Coast 

 

• Independence: August 7th 1960

 

• Currency: west african CFA Franc

 

• Sources of income: Bananas, Pineapples, Palm oil, Cocoa 

 

• DR Congo Population: 24 million plus 

 

•  GDP: $45 Billion

 

Libya #13 Richest Country in the Africa Continent (GDP $44 Billion) 

 

Libya is home for a population of over 6 million people according to an estimate drawn in 2019. 

 

She became an independent country in the year 1951 December 24th. 

 

The economy of Libya has been governed majorly by her export of crude oil product. 

 

This takes about 95% of the country’s export just like Nigeria. 

 

Libyans oil has been the reason the economy has done this good for this long despite the crisis in the past which has threatened to cripple the economy. 

 

So what is the major export of Libya? 

 

Libya major export includes Petroleum, Scrap copper and Scrap iron. 

 

All this coupled with a very small population has helped to establish a good GDP over the years. 

 

Here is a list of her export products… 

 

• Petroleum 

 

• Refined petroleum 

 

• Scrap Iron 

 

• Scrap Copper 

 

She currently boost a GDP of $44,000,000,000 ($44 billion) with an annual GDP growth rate of 4%.

 

Libya has had several rough patches in the past but to see that the economy still thrives gives her population hope for a better future. 

 

Here is my summary to this… 

 

• Country Name: Libya

 

• Independence: December 24th 1951

 

• Currency: Libyan Dinar (LYD) 

 

• Sources of income: Petroleum, refined petroleum, Scrapper Iron

 

• Libya Population: 6 million-plus 

 

•  GDP: $44 Billion

 

Cameroon #14 Richest Country in the Africa Continent (GDP $44 Billion) 

 

France is the second country in the sub saharan desert to gain her independence with the first being Guinea. 

 

Cameroon is made up of the Anglophone and the Francophones but French speaking Cameroon gained her independence in the year 1960 precisely January 1st.

 

In the past 25 years, the economy of Cameroon has been very prosperous thanks to a blessed land. 

 

So what are the major export of Cameroon? 

 

Cameroon major export stems around Crude oil, Cocoa bean, Aluminium and Gold. 

 

Crude oil amounts for more than 50% of her exports with the remaining products sharing the other 50%.

 

Here is a list of her exports… 

 

• Gold 
• Crude oil 
• Aluminium 
• Cocoa bean 
• Coffee 

 

but you are probably wondering what is her GDP right? 

 

The GDP of Cameroon stands at $39,000,000,000 ($39 billion) with an annual growth rate of 2.7%.

 

Despite the little rift between the Anglophone and the Francophones Cameroon thrives to become one of the richest countries in the African continent. 

 

Here is a brief summary… 

 

• Country Name: Cameroon 

 

• Independence: January 1st 1960

 

• Currency: central african CFA Franc

 

• Sources of income: Cocoa bean, Crude oil, Aluminium 

 

• Cameroon Population: 24 million plus 

 

•  GDP: $39 Billion

 

Tunisia #15 Richest Country in the Africa Continent (GDP $36 Billion) 

 

Tunisia is home for a population of over 11 million people and she negotiated her independence with France between 1952 and 1956.

 

Habib Bourguibia became the first prime minister of the state post independence. 

 

Since independence Tunisia have been able to maintain a slow and stable economy. 

 

Though she is looking to become a liberalised based economy, it is her Textile industry amongst other that’s contributed to the economic success of the country. 

 

So what are the major export of the country? 

 

The major export of Tunisia includes Agricultural products, semi finished goods, mechanical goods and more. 

 

This has all work together to produce a slow but stable economy… 

 

and here is a list of her export I have below… 

 

• Phosphates 

 

• Agricultural products 

 

• Textile 

 

• Electrical equipments 

 

As at 2019 Tunisia had a GDP of $36,000,000,000 ($36 Billion) upon an annual GDP growth rate of 0.7%

 

Despite slow progress, she has been able to boost of a stable economy for the past 5 years. 

 

• Country Name: Tunisia 

 

• Independence: 1956

 

• Currency: Tunisian Dinar (DT)

 

• Sources of income: Textile 

 

• Tunisia Population: 11 million plus 

 

•  GDP: $36 Billion

 

Uganda #16 Richest Country in the Africa Continent (GDP $33 Billion) 

 

Uganda gained independence from the United Kingdom in the year 1962 precisely October 9th. 

 

Then in 1963, she became a Republic same year Nigeria became a Republic. 

 

Uganda is home to a population of over 42 million people. 

 

Her land filled with natural resources has helped towards creating a more ample but relax economy. 

 

and today some of her major exported goods are Agricultural products. 

 

and here is some examples of products Uganda exports… 

 

• Coffee 

 

• Fish 

 

• Tea 

 

• Cotton 

 

Of all the above Agricultural products, coffee is where Uganda generate most of her income to cater for other sectors. 

 

Here is when you ask me what is the GDP of Uganda? 

 

Uganda has a GDP of $33 billion on an annual growth rate of 6%.

 

Not one of the mega oil producers in the Continent but she fends well for herself and her citizens with the natural resources she is endowed with. 

 

Here is my summary… 

 

• Country Name: Uganda 

 

• Independence: October 9th 1962

 

• Currency: Ugandan Shilling (UGX) 

 

• Sources of income: Coffee 

 

• Uganda Population: 42 million plus 

 

•  GDP: $33 Billion

 

Sudan #17 Richest Country in the Africa Continent (GDP $31 Billion)

 

Sudan gained her independence in the year 1956 January 1st. 

 

Sudan is home to to a population of more than 42 million people. 

 

Clouded in almost a decade of war, Sudan’s economy has experienced a tumble in recent years. 

 

but prior to the wars, the Sudanese economy boomed with increased oil productions. 

 

That’s not all! 

 

Large investment from foreign countries also contributed to the growth of the country. 

 

but what is the major export of Sudan? 

 

Sudan’s majorly exports is Gold and livestocks… 

 

but constant war has done quite a number on the country’s economy. 

 

Her GDP stands at $30,000,000,000 ($30 billion) but slipping to a annual GDP growth of – 2.6%.

 

This could be due to so many factors taking it’s tole but a larger finger can be pointed to the unrest in the country. 

 

Here is a summary for you… 

 

• Country Name: Sudan 

 

• Independence: January 1st 1956

 

• Currency: Sudanese Pounds (SDG) 

 

• Sources of income: Livestocks and Gold 

 

• Sudan Population: 42 million plus 

 

•  GDP: $30 Billio

 

Senegal #18 Richest Country in the Africa Continent (GDP $25 Billion)

 

Senegal gained her independence in year 1960 precisely April 4th. 

 

This is due to the transfer of power document signed by France and Senegal. 

 

Senegal is home to a population of 16 million people. 

 

I believe Senegal is one of the counties in Africa with a very low natural resources. 

 

but hey what she has she makes do with. 

 

So what is major export of Senegal? 

 

Senegal controls her economy with the export of fishes, tourism and groundnuts. 

 

Here is a list of some of her exports… 

 

• Groundnuts 

 

• Fish 

 

• Phosphates 

 

• Groundnut 

 

• Gold 

 

Despite having one of the lowest natural resources, she thrives with whatever nature blessed her with. 

 

and today she boost a GDP of $25,000,000,000 ($25 billion) on a annual GDP growth rate of 6%.

 

Not bad at all for a country with scanty natural resources right? 

 

Anyways here is some details you may have missed… 

 

• Country Name: Senegal 

 

• Independence: 1960 April 4th

 

• Currency: West African CFA franc

 

• Sources of income: Gold, Fish, Groundnuts 

 

• Senegal Population: 16 million-plus 

 

•  GDP: $25 Billion

 

 

Zambia #19 Richest (GDP $24 Billion)

 

The economy of Zambia is among the fastest-growing economies in Africa. 

 

and one of the most urbanized in the sub-Saharan desert of Africa. 

 

Zambia gained independence in the year 1964 precisely October 24th. 

 

She is home to a population of over 18 million people. 

 

and with a fast-growing economy, you could say the sky is the starting point for the inhabitants that live in this country. 

 

but then what are the major exports of Zambia? 

 

Zambia’s major export is copper and this accounts for about 70% of the continents copper production. 

 

However other natural resources makes copper take just about 60% of the country’s export goods. 

 

Here is a list of more things she exports… 

 

• Copper 

 

• Gemstone 

 

• Tobacco 

 

• Cotton 

 

• Electricity 

 

All of these natural resources have helped Zambia to become one of the fastest-growing economy in the Continent. 

 

In 2020 she reached a GDP of $24 billion with an annual growth rate of 2.1%.

 

and here is a summary for you! 

 

• Country Name: Zambia

 

• Independence: 1964 October 24th

 

• Currency: Zambia Kwacha (ZMK)

 

• Sources of income: Copper, Gemstones 

 

• Zambia Population: 18 million-plus 

 

•  GDP: $24 Billion

 

Zimbabwe #20 Richest Country in the Africa Continent (GDP $22 Billion)

 

Zimbabwe has the 2nd biggest informal economy according to Wikipedia. 

 

Agriculture and several mining activities contribute largely to the wealth of the nation. 

 

and she is home to a population of 14 million-plus people who survive through these natural resources. 

 

Zimbabwe gained independence in the year 1980 April 18th. 

 

So what is her major export? 

 

The major export of Zimbabwe is Tobacco which accounts for about 23% of the country’s wealth. 

 

Others may include Nickel which again is the second largest export of the country holding a 20% export capacity of the economy of the country. 

 

and here is a list of some of her exports… 

 

• Nickel 
• Gold 
• Platinum 
• Tobacco 
• ferrochrome 

 

Zimbabwe operated a multi-currency system for years before settling for the Zimbabwean dollar in late 2019.

 

In today’s world RTSG is the newly adopted Zimbabwe currency which will be used for trade around the world. 

 

All of this together accounts for the country’s annual GDP which well runs into $22,000,000,000 ($22 Billion). 

 

As 2019 the annual GDP growth rate of Zimbabwe as a country is at a 3.5%. 

 

Having said all of these, here is a summary down for you! 

 

• Country Name: Zimbabwe 

 

• Independence: 1980 April 4th

 

• Currency: Zimbabwean dollar (RTSG) 

 

• Sources of income: Tobacco, Nickel, Gold 

 

• Zimbabwe Population: 14 million-plus 

 

•  GDP: $22 Billion

 

While the top 20 African richest country ends here, how the top 30 richest countries in Africa begins from here. 

 

Top 30 Richest Countries in Africa By GDP

 

When I was putting together this list, I knew it was going to be a huge list. 

 

but I know it is going to be worth it because I and my team love to do research. 

 

This is because serving you the best content on the Web on topics like this is very important. 

 

So what are the top 30 richest countries in Africa? 

 

Here is a list of the 30 richest countries in Africa 2020! 

 

• Botswana 

 

• Mali

 

• Gabon

 

• Mozambique 

 

Botswana #21 Richest (GDP $19 Billion)

 

Botswana gained her independence from the United Kingdom in the year 1966 September 30th.

 

Filled several natural resources, Botswana is home to a very small population of 2 million people. 

 

and her economy is considered as one of the fastest-growing economy in the world today. 

 

After gaining independence, the rate of employment for the past 3 decades has been enormous. 

 

but what are the major export of Botswana? 

 

Botswana major export is diamond, copper and soda Ash. 

 

This and a few other amounts for the total wealth of the country since gaining independence. 

 

Here is a list of her exports… 

 

• Diamond 
• Copper 
• Soda Ash 
• Beef

 

About 70% of the country’s wealth comes from her activity of mining precious stones like diamond. 

 

So what is her GDP in 2020?

 

The GDP of Botswana is 19 billion US dollars ($19 billion). 

 

and as at 2020, her GDP growth rate stands at 5% per annum. 

 

Here is a summary for you…

 

• Country Name: Botswana 

 

• Independence: 1966 September 30th

 

• Currency: Botswana Pula (BWP)

 

• Sources of income: Diamonds 

 

• Botswana Population: 2 million-plus 

 

•  GDP: $19 Billion

 

Mali #22 (GDP $17 Billion)

 

While each country in Africa has been forecasted to reach an average GDP per capita of at least $1,000 by 2025, it’s safe to Mali will also be one of the country’s who will mark this threshold. 

 

No doubt Mali is home for more than 17 million people in Africa. 

 

and she gained her independence in the year 1960 June 20th. 

 

She became a Republic same year precisely September of 1960.

 

Mali economy is run largely due to Agricultural produce with most of the rural areas. involving in subsistence agriculture. 

 

but what is the major export of Mali? 

 

Mali export is gold and this accounts for more than 72% of the country’s economic development. 

 

Here is a list of some other products the country exports… 

 

• Gold 

 

• Fertilizers 

 

• Oil 

 

• Iron 

 

Her major export partner is South Africa, however Burkina Faso, also Senegal ply trade with this country. 

 

So what is her GDP? 

 

The GDP of Mali reaches 17 billion US dollars ($17 billion) on annual GDP growth of 5% as of 2020.

 

Here is a summary for you! 

 

• Country Name: Mali

 

• Independence: 1960 June 1960

 

• Currency: West African CFA franc

 

• Sources of income: Gold, Fertilisers 

 

• Mali Population: 19 million-plus 

 

•  GDP: $17 Billion

 

Gabon #23 (GDP $16 Billion)

 

 

History sometimes can be really fun to read about especially if you are a historian. 

 

Fortunately, I love the tales of the old especially one that concerns my origin and Africa as a Continent. 

 

and for the people of Garbon, you can read about your country’s history here. 

 

Gabon is home to a population of 1.9 million people as at 2020.

 

She became an independent country in the year 1960 August 17th.

 

In my opinion this country’s state may be due to the strong link with France. 

 

and she is one of the countries with a depleting agricultural resource. 

 

Having said that, what is the major exports of Gabon? 

 

Gabon major export is Petroleum this amounts to about 70% of the country’s export and source of wealth. 

 

Her major business partners include 49% dealing with the united state of America. 

 

Here is a list of other products she exports… 

 

• Petroleum 

 

• Manganese 

 

• Uranium 

 

• Timber 

 

What is the GDP of Gabon? 

In 2019 Gabon with her 1.9 million population reached a GDP of 16 million US dollars ($16 million).

 

She averaged a GDP growth rate of 2.91% in 2020.

 

All of these factors into her becoming one of the wealthiest countries in Africa in terms of GDP. 

 

 

However, if you and I consider a list of richest countries in Africa in terms of GDP per capita, this could be a whole different story. 

 

and in the later sector of this post I will do just that. 

 

This is because I want to also show how the poorest countries in Africa rank in terms of GDP per capita. 

 

Now here is a summary of Gabon… 

 

 

• Country Name: Gabon

 

• Independence: 1960 August 17th

 

• Currency: Central African CFA Franc

 

• Sources of income: Gold 

 

• Gabon Population: 1.9 million-plus 

 

•  GDP: $16 Billion

 

Mozambique #24 Richest Country in the Africa Continent (GDP $15 Billion)

 

Mozambique gained independence from the Portuguese after the Mozambican War of Independence. 

 

Today she is home to a population of 30 million people in the world. 

 

After the war, Mozambique has seen a more developed economy thanks to a couple of bold moves made to stabilize the country’s economy. 

 

Today, Mozambique’s major export includes Aluminium which has helped in her export activities. 

 

Mozambique common trade partners are Portugal, Spain, South Africa, and China. 

 

Here is a list of some natural resources she exports… 

 

• Aluminum 

 

• Prawns 

 

• Sugar 

 

• Tobacco 

 

Mozambique GDP stands at $15 billion while maintaining a GDP growth rate of 2% in 2020.

 

Here is a summary! 

 

• Country Name: Mozambique 

 

• Independence: under review 

 

• Currency: Mozambican Metical (MZN) 

 

• Sources of income: Aluminium, Tobacco 

 

• Mozambique Population: 30 million-plus 

 

•  GDP: $15 Billion

 

Burkina Faso #25 (GDP $15 Billion)

 

Burkina Faso gained independence in the year 1960 August 5th. 

 

She is home to a population of 20 million people. 

 

The economy of Burkina Faso has been doing pretty well since the 2014. 

 

Primarily based on Livestock farming, Burkina Faso export Gold and raw cotton. 

 

This makes up for a much larger part of the economic success the country has experienced. 

 

Other export goods include… 

 

• Brazil nuts 

 

• Cashew nuts 

 

• Raw Zinc 

 

• Zinc Ore 

 

• Gold 

 

but what is the GDP of Burkina Faso? 

 

Burkina Faso has a GDP of 15 billion US dollars ($15 billion) upon an annual growth rate of 6% in 2019. 

 

Here is a summary… 

 

• Country Name: Burkina Faso

 

• Independence: August 5th 1960

 

• Currency: West African CFA franc 

 

• Sources of income: Gold, Raw Cotton 

 

• Burkina Faso Population: 20 million-plus 

 

•  GDP: $15 Billion

 

Mauritius #26 (GDP $15 Billion)

 

Mauritius got her independence in the year 1968 March 12th. 

 

Today she is home to a population of 1.4 million people in the Continent. 

 

Mauritius made our list of top 50 richest countries in Africa by GDP thanks to its diversified economy. 

 

Mauritius has been largely dependent on Agricultural produce to sustain its economy. 

 

However, that change when it’s government decided to dive into heavy sugar production. 

 

Today she exports confectionery sugar amongst other produce. 

 

So what is the major export of Mauritius? 

 

She exports Clothing Accessories, Electrical machinery and more. 

 

As a matter of fact here is a list of other things she exports… 

 

• Precious metals 

 

• Accessory knit 

 

• Sugar 

 

• Clothing 

 

You are probably wondering what is the GDP of Mauritius right? 

 

Well, she is currently worth a GDP of 15 billion US dollars. 

 

and in 2019 she averaged an annual GDP growth rate of 3.1%.

 

I have a summary of everything below for you here…

 

• Country Name: Mauritius 

 

• Independence: 1968 March 12th

 

• Currency: Mauritius Rupee (MUR)

 

• Sources of income: Clothing, Accessories knit 

 

• Mauritius Population: 1.4 million-plus 

 

•  GDP: $15 Billion

 

Namibia #27 (GDP $14 Billion)

 

Namibia gained her independence in the year 1990 21st March from South Africa. 

 

Today you and I can say Namibia is home to a population of more than 12 million people. 

 

The modern market sector produces most of the countries wealth. 

 

but she also maintains a traditional subsistence market sector. 

 

Now, what is the major export of Namibia? 

 

Following her independence from South Africa, Namibia explored her natural resources. 

 

Namibia currently export diamonds which is about 22% of the country’s export. 

 

Here is a complete list of her major exports… 

 

• Diamond 

 

• Gold 

 

• Lead

 

• Uranium 

 

• Live animals 

 

Her main export partners are the USA, South Africa etc. 

 

So what is the GDP of Namibia? 

 

Namibia has a GDP of 14 billion US dollars…

 

and in 2019, she averaged a Gross domestic product rate of 1.9%.

 

Now here is a summarised version for you! 

 

• Country Name: Namibia 

 

• Independence: 1990 March 21st

 

• Currency: Namibia dollar (ND) 

 

• Sources of income: Diamonds 

 

• Namibia Population: 12 million-plus 

 

•  GDP: $14 Billion

 

Madagascar #28 (GDP $12.7 Billion)

 

Madagascar got her independence in the year 1960 June 26th. 

 

Today she is home to a population of 27 million people in Africa. 

 

Madagascar made our list of top 50 richest countries in Africa by GDP. 

 

Madagascar’s economy has been supported by its agricultural sector as well as developing tourism. 

 

It’s a market economy as well seen this economy rising gradually. 

 

Today she exports coffee, sugar amongst other produce. 

 

So what is the major export of Madagascar? 

 

Madagascar’s major exports include Coffee, Vanilla and Shellfish. 

 

Also facts here is a list of other things she exports… 

 

• Shellfish

 

• Vanilla 

 

• Sugar 

 

• Cotton textile 

 

You are now wondering what is the GDP of Madagascar right? 

 

Madagascar is now worth a GDP of 12. 7 billion US dollars ($12.7 billion). 

 

she averaged an annual GDP growth rate of 5.2%.

 

I have a summary of everything below for you here…

 

• Country Name: Madagascar 

 

• Independence: 1960 JUNE 26th

 

• Currency: Malagasy Ariary (MGA)

 

• Sources of income: Sugar, Fibre, Shellfish

 

• Madagascar Population: 27 million-plus 

 

•  GDP: $12.7 Billion

 

Guinea #29 (GDP $12 Billion)

 

With a population of 12.7 billion people, Guinea is world proven and well known for its Bauxite export. 

 

She gained her independence in the year 1958 specifically October 2nd. 

 

Guinea economy is largely supported by its agriculture alongside other rural activities. 

 

Guinea is the world’s largest country with mineral deposits. and Bauxites amounts for most of the income the country makes from her trade with international countries like Russia and the United States. 

 

what is the major export of Guinea? 

 

Guinea major exports includes Bauxite, Gold, and Diamond. 

 

here is a list of other things that Guinea exports… 

 

• Bauxite 

 

• Diamond 

 

• Gold 

 

• Iron 

 

what is the GDP of Guinea right? 

 

Guinea is now worth a GDP of 12. 7 billion US dollars ($12 billion). 

 

Guinea got an annual GDP growth rate of 6.2% in 2019.

 

I have a summary of everything below for you here…

 

• Country Name: Guinea 

 

• Independence: 1958 October 2nd

 

• Currency: Guinea Franc (GNF)

 

• Sources of income: bauxite, Gold, Diamond, Iron

 

• Guinea Population: 12.7 million-plus 

 

•  GDP: $12 Billion

 

Equatorial Guinea #30 (GDP $12 Billion)

 

Equatorial is home to a few million of people, although she struggle with a – 4% GDP growth rate, she is also listed here. 

 

Guinea gained her independence in the year 1968 October 12th. 

 

The economy of Equatorial Guinea depends traditionally on the export of coffee. 

 

but this changed after oil was discovered in the country. 

 

and what is the major export of Equatorial Guinea? 

 

Equatorial Guinea majorly exports Petroleum and Petroleum gas. 

 

This is responsible for a majority of the country’s income since the 1980s.

 

Here is a list of some other products Equatorial Guinea exports… 

 

• Crude Petroleum 

 

• Rough Wood

 

• Coffee 

 

• Cocoa 

 

Her major export partner is South Africa, however Burkina Faso, also Senegal ply trade with this country. 

 

So what is her GDP? 

 

The GDP of Equatorial Guinea is 12 billion US dollars ($12 billion) on annual GDP growth of – 4% as of 2020.

 

Here is a summary for you! 

 

• Country Name: Equatorial Guinea 

 

• Independence: October 12th 1968

 

• Currency: Central African CFA franc

 

• Sources of income: Crude Petroleum, Rough Wood, Petroleum Gas

 

• Equatorial Guinea Population: under review 

 

•  GDP: $12 Billion

 

Top 50 Richest Countries in Africa By GDP Per Capita

 

At the beginning of this post I told you categorically that I was going to shock you right? 

 

Well here we! 

 

When you and I analyzed the richest country in Africa based upon GDP, we saw countries like Nigeria and SA picking the number 1 and 2 spot respectively right? 

 

Well, now, here is the best part! 

 

Basing this analysis strictly on GDP won’t do complete justice to this post because it does tell you and me what the state of living is like for such countries… 

 

Which is why I decided to also rank each Africa country base on GDP per capita. 

 

• Equatorial Guinea
•  Seychelles
• Mauritius
• Gabon
• Botswana
• Algeria
• South Africa
• Egypt
• Tunisia
• Namibia
• Eswatini (Swaziland)
• Libya
•  Morocco
• Cape Verde
• Angola
• Republic of the Congo
• Nigeria
• Ghana
• Sudan
• Mauritania
• Zambia
• Lesotho
• Ivory Coast
• Djibouti
• Kenya
• Cameroon
• Tanzania
• São Tomé and Príncipe
• Senegal
• Chad
• Uganda
• Zimbabwe
• Benin
•  Mali
• Ethiopia
• Rwanda
• Guinea
• Burkina Faso
• Guinea-Bissau
• Sierra Leone
• The Gambia
•  South Sudan
• Togo
• Comoros
• Madagascar
•  Eritrea
• Mozambique
• Malawi
• Niger
• Liberia
• Burundi
• Democratic Republic of the Congo
• Central African Republic
•  Somalia

 

Now here is how the table look like when I took this approach… 

 

List of Top 50 Richest Countries in African Base on GDP Per Capita

 

So what are the top 50 richest countries in Africa? 

 

Here is a list of top 50 richest countries in Africa…

 

Note: All nominal data on this data are in correspondence with World Bank’s latest data.

 

Conclusion 

 

In other for my team and I to successfully put together this list of top 50 richest countries in Africa, we considered factors such as GDP and GDP per capita. 

 

So this post tells you the richest African countries by GDP and GDP per capita. 

 

So when next you are looking for the richest countries in Africa 2019 or 2018 be sure to refer to this post. 

 

Now it’s your turn! 

 

Who do you want to be on this list that’s not on it? 

 

Leave a comment below with your thoughts and I will be sure to follow up with you. 

 

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