Sunday, 13 May 2018

Top 10 Richest African Countries 2018

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TOP 10 RICHEST AFRICAN COUNTRIES
Credit : Hot Vibes Media 

Africa also called the motherland is a continent with an abundant amount of natural resources. 

This continent is rich in culture and diversity with over two thousand languages and different ethnic groups. 

Africa is made up of 51 countries,over the years the continent has faced different challenges which include famine,unemployment Etc.
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Majority of Africans have left the shores of Africa to other continents in other to search for better lives.


Nevertheless,there are some African countries that have made some economic progress over the years.

Let's quickly take a look at some of the richest countries in Africa considering some factors such as GDP per capita,total net worth of the economy,availability of the middle class Etc. 

Top 10 Richest African Countries 2018

1. Nigeria

Nigeria is also referred to as the giant of Africa,according to sources,Nigeria has the largest economy in Africa. 

The country is the largest oil producing nation in the continent. 
The country also exports other cash crops such as cassava,cocoa Etc. 

Nigeria has a GDP of about $594.257 billion with about $6,003 per Capita which is relatively low.

The country is also the most populous African Nation in the world.

2. Seychelles

A lot of people are not familiar with the economy of Seychelles. This island country has a low GDP when compared with other African countries but ranks high when it comes to the per Capita GPD of the country. 

Seychelles has a per Capita of $26,400 which is one of the highest in Africa while it's GDP is $1.438 billion.
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The Island country has developed it's economy through it's vibrant and flourishing tourism industry.

The country is a mixture of beautiful islands numbering one hundred and sixteen. 

The Island African country also has some of the most pricey high end hotels and resorts that boost the tourism industry. Seychelles also has one of the lowest population in Africa. 

3. South Africa

South Africa is one of the economic power house in Africa.
South Africa’s economy has grown over the years due to the advancement of science and technology,mining Etc. 

The country has also succeeded in building it's middle class.

 South Africa has a per capita income of about $11,914 and it's GDP stands at $312.80 billion.
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The country also exports gold, diamonds, platinum, machinery, and other metals and minerals.

South Africa also has the highest number of billionaires in Africa.

4. Egypt

The African country is supposed to be among the high ranking economies in the world due to the fact that the earliest known form of civilization started in Egypt many centuries ago.

Nevertheless Egypt is still one of the richest and largest economy in Africa with a GDP per capita of $10,9134.

The country has improved it's economy through industrial developments,technological innovations Etc. The country also exports crude oil,petroleum products, cotton,textiles Etc. The GDP of Egypt is placed at $330.7 Billion.

5. Botswana

The Republic of Botswana is located in the southern region of Africa. 


Over the years this country has boosted it's economy to become one of the richest countries in Africa through the mining of precious metals and gemstones such as diamonds.
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The country also has one of the smallest population in Africa with just over 2 million people. 

Apart from mining,the country also has a very vibrant farming and tourism industry and is ranked as one of the fastest growing economies in Africa.

The GDP of Botswana is $14.39 Billion while it's GDP per capita stands at $16,400.

6. Algeria

Algeria is also one of the richest countries in Africa. The North African country is one of the largest economies in Africa with major interest in hydrocarbons, research, alternative energy sources, labor market, tourism, oil and transport. 

Algeria is also one of the largest producers of oil in Africa. 
The People’s democratic republic of Algeria has a per capita of about $7500. 

7. Namibia

Namibia is one of the countries in Africa with a very low population figure,the country is also known as the Republic of Namibia.

Namibia is located in the part of Southern part of Africa.

This country has boosted it's economy over the years by investing in agriculture, mining,electricity,tourism Etc.
Namibia has a per capita GDP of about $8200.

8. Tunisia

Tunisia is a north African country. The country is also rated as one of the richest economy in Africa. Tunisia has major interest in tourism,energy,transport Etc.

Tunisia's tourism industry is also doing great. The country has a per capita GDP of about $11,400 and it's GDP is pegged at $43.02 billion.

9. Mauritius


Mauritius is one of the smallest countries in Africa,this country is popular for it's vibrant tourism. 
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Apart from tourism Mauritius also has interest in information technology and transportation. 

Mauritius has also been able to attract foreign investors into the country for investment. 
The GDP per capita of Mauritius is pegged at about $16,100.

10. Angola

Angola is an African country with the population of just over 20 million people.

Angola got the attention of the world after it became one of the strongest and fastest growing economies in Africa due to the increase in it's oil sector which accounts for about 75% of the country’s revenue and about 91% of the nation’s total exports

Oil is the major source of income of the African country,other sources of income include the exports of diamonds and agro-foods.

Angola is one of the richest countries in Africa with a GDP of $102.7 billion and a per capita GDP of $7,300.


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