Africa is home to many of the world’s poorest countries. The majority of economies are in a state of flux, and poverty is pervasive. Some African countries, on the other hand, have the world’s fastest-growing economies.
Agriculture, trade, and natural resources are the most critical aspects of the African economy, anticipated to exceed $29 trillion in GDP by 2050. While there are several ways to compare a country’s wealth, one of the most effective is to look at its purchasing gross domestic product or GDP.
This is the worth of a country’s goods and services over a year. However, GDP does not account for differences in living costs and inflation rates among countries, whereas GDP per capita at purchasing power parity (PPP) does.
Six African countries have a gross domestic product (GDP) of more than $100 billion. The following are the top 10 wealthiest African countries:
Richest African Countries 2021
10. Angola (GDP: $66.49 billion)
Angola is a Southern African nation whose varied terrain encompasses tropical Atlantic beaches.
9. Ivory Coast (GDP: $70.99 billion)
Ivory Coast is a West African country with beach resorts, rainforests and a French-colonial legacy.
8. Ghana (GDP: $74.26 billion)
Ghana, officially the Republic of Ghana, is a country in West Africa.
7. Ethiopia (GDP: $93.97 billion)
Ethiopia is a rugged, landlocked country split by the Great Rift Valley in the Horn of Africa.
6. Kenya (GDP: $106.04 billion)
Kenya is a country in East Africa with a coastline on the Indian Ocean.
5. Morocco (GDP: $124 billion)
Morocco, a North African country bordering the Atlantic Ocean and the Mediterranean Sea, is distinguished by Berber, Arabian and European cultural influences.
4. Algeria (GDP:$151.46 billion)
Algeria is a North African country with a Mediterranean coastline and a Saharan desert interior.
3. South Africa (GDP: $329.53 billion)
South Africa is a country on the southernmost tip of the African continent, marked by several distinct ecosystems.
2. Egypt (GDP: $394.28 billion)
Egypt, a country linking northeast Africa with the Middle East, dates to the time of the pharaohs. Millennia-old monuments sit along the fertile Nile River Valley, including Giza’s colossal Pyramids and Great Sphinx.
1. Nigeria (GDP: $514.05 billion)
Nigeria, an African country on the Gulf of Guinea, has many natural landmarks and wildlife reserves. Protected areas such as Cross River National Park and Yankari National Park have waterfalls, dense rainforest, savanna and rare primate habitats.