Top 10 Richest African Countries May 2024  

Africa is a rich continent in terms of resources, however, it’s known to be one of the poorest continents. Many African nations are poor and have unsteady economies. It has been difficult ending extreme poverty in some African countries.

War, Terrorism, and corruption, deteriorate the economy of some countries. Though Africa being poor doesn’t mean it does not have countries that are well up and considered the richest African countries.

To estimate the wealth of a country, we will take the total value of all products and all services from a country’s economy over a given year which is known as GDP (Gross Domestic Product). By calculating the GDP of every country we will be able to rank them and know the richest African countries.

Here is the current ranking of the top 10 richest  African countries with their GDP;

Richest African Countries May 2024

 We have compiled the list of the top 10 richest African countries with their GDP and population.

1.#NIGERIA – THE RICHEST COUNTRY IN AFRICA (GDP: $510.58 Billion)

• GDP: $510.588 Billion (nominal, 2022 est.)
• Real GDP growth; 3.4%
• Population ; 215,553,411

2.#EGYPT-SECOND RICHEST COUNTRY (GDP: $435.62 Billion)

• GDP: $435.621 Billion (nominal, 2022 est.)
• Real GDP growth; 3.3%
• Population; 105,891,415

 3.#SOUTH AFRICA-THIRD RICHEST COUNTRY (GDP: $426.16 Billion)

• GDP: $426.166 Billion (nominal, 2022 est.)
• Real GDP growth; 4.9%
• Population; 60,689,034

4.#ALGERIA-FOURTH RICHEST COUNTRY (GDP: $193.60 Billion)

• GDP: $193.601 Billion (nominal, 2022 est.)
• Real GDP growth: 3.4%
• Population: 45,301,688

5.#MOROCCO-FIFTH RICHEST COUNTRY (GDP: $133.06 Billion)

• GDP: $133.062 Billion (nominal, 2022 est.)
• Real GDP growth: 4.5%
• Population: 37,716,972

6.#ANGOLA- SIXTH RICHEST COUNTRY (GDP: $124.86 Billion)

• GDP: $124.862 Billion (nominal, 2022 est.)
• Real GDP growth: 0.2%
• Population; 34,749,632

7.#KENYA- SEVENTH RICHEST COUNTRY (GDP: $114.68 Billion)

• GDP: $114.679 billion (nominal, 2022 est.)
• Real GDP growth: 5.6%
• Population; 55,944,116

 8.#ETHIOPIA- EIGHTH RICHEST COUNTRY (GDP: $105.32 Billion)

• GDP: $105.325 Billion (nominal, 2022 est.)
• Real GDP growth: 2%
• Population; 120,210,483

 9.#TANZANIA- NINTH RICHEST COUNTRY (GDP: $77.51 Billion)

• GDP: 77.506 Billion (nominal, 2022 est.)
• Real GDP growth: 4.3%
• Population; 62,864,118

10.#GHANA- TENTH RICHEST COUNTRY (GDP: $73.89 Billion)

• GDP: $73.894 Billion (nominal, 2022 est.)
• Real GDP growth: 4.1%
• Population; 30.95522

  The countries we have listed in the top 10 Richest African countries are the richest African countries in the world. African countries need to improve their economies by taking advantage of their natural resources, Agriculture, and trade.

In the next decade, the world bank is looking forward to most African countries to get to “middle income” level with $1000 of GDP per capita.

Reviews of the top 10 richest African Countries May 2024

The top 10 richest African countries:

1.Nigeria

2.Egypt

3.South Africa

4.Algeria

5.Morocco

6.Angola

7.Kenya

8.Ethiopia

9.Tanzania

10.Ghana

Summary

Richest African Country

Article Name; Top 10 richest African countries

Description: Nigeria is the richest African country and Egypt is second followed by South Africa.

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