Africa is the second-largest and most populated continent on Earth. This continent is surrounded by the Mediterranean Sea in the north, the Isthmus of Suez and the Red Sea to the northeast, the Indian Ocean to the southeast, and the Atlantic Ocean in the west. Africa is important because of their natural resources and wildlife which is unique for that area. These resources they possess are also important for their economics which has seen both good and bad days. All of them have a history of civil war, poverty, and hunger, but they managed to improve their economy.
List of Richest Countries in Africa
1. Nigeria
The Federal Republic of Nigeria is a country in West Africa. Nigeria is called the “giant of Africa” due to their large population and economical success. It is the richest county in Africa with the yearly income of 397,472 billion dollars. Their economy is based on the export of agricultural products, petroleum and natural gas, and minerals. Firstly, they export beans, sesame, cashew, nuts, cassava, cocoa beans, rubber, melon, soybeans, and rice. Secondly, they are considered to be one of the top exporters of petroleum and natural gas. Finally, Nigeria exports coal, gold, iron, limestone, and others.
2. South Africa
The Republic of South Africa is the second richest country in Africa and it is situated in the South. It is interesting that they have three capital cities: Pretoria (executive), Bloemfontein (judicial), and Cape Town (legislative). Their GDP is 376,679 billion dollars. Most of the people work in the formal sector, and the most valuable source of their income is tourism. South Africa is famous for its biodiversity and many tourists go on so-called Eco tours. The most famous national park is The Kruger National park where many various animals and plants can be seen.
3. Egypt
The Arab Republic of Egypt is a Mediterranean country situated in the northwest of Africa. The capital city of Egypt is Cairo. Their economy revolves around agriculture, media, petroleum imports, and tourism. Their GDP goes up to 249,471 billion dollars. Most of their income comes from tourism. More than 12.8 million tourists visit Egypt every year. One of their most popular tourist attractions is the Giza Necropolis for it is the only one out of Seven Wonders of the Ancient World still in existence. Egypt is one of the largest producers and exporters of oil.
4. Algeria
The People’s Republic of Algeria is a country in North Africa. Algeria is the tenth-largest country in the world and its capital, Algiers, is the most populated city in all Algeria. The economy of Algeria is reliant on the production and export of petroleum and their yearly income goes up to 188 342 billion dollars. It is interesting to mention that Algeria has great reserves of natural gas and oil. There are several UNESCO World Heritage Sites worth visiting in Algeria which helps their development of tourism.
5. Morocco
The Kingdom of Morocco is the fifth richest country in Africa located in the Maghreb region in the North. The capital is called Rabat, but the largest and most popular city is Casablanca. Their GDP goes up to 118,178 billion dollars. The most important branch of Morocco’s economy is tourism. It is well developed and concentrated on the country’s culture, history, and coast. Casablanca is their most famous port and touristic site due to the Humphrey Bogart’s movie Casablanca. Another important branch of their economy is agriculture. They export barley, wheat, and other cereals, but also citruses, olives, plains, and wine grapes.
6. Angola
The Republic of Angola is a country situated on the west coast of Southern Africa. It is interesting that this area has been inhabited from the Paleolithic age and thanks to this it has a large variety of ethnic groups. The capital of Angola is Luanda and it is also their largest city. Their yearly income goes up to 114,504 billion dollars. The most important source of Angola’s economy is natural resources; mainly diamonds, oil, copper, and fossil fuels. It also has rich wildlife and forests. Besides diamonds, which make up to 60% of Angola’s economy, forestry is another branch with economical potential. Angola was the major exporter of bananas, coffee, and sisal, but since the civil war this is not possible and thus they depend on expensive food imports.
7. Kenya
The Republic of Kenya is situated in the southeast of Africa. Its capital and largest city is Nairobi. Kenya’s economics revolves around tourism, agriculture, manufacturing, and transport. Their GDP goes up to 89,591 billion dollars. Tourism is the most successful economical branch of Kenya. The main tourist attractions are 60 national parks, beaches, wildlife, and mountains. The principal plants that are exported are coffee, tea, sisal, pyrethrum, corn, and wheat. They also export coconuts, pineapples, cashew nuts, cotton, and sugarcane.
8. Ethiopia
The Federal Democratic Republic of Kenya is situated in the Horn of Africa and its capital and largest city is Addis Ababa. It is the second-most populous country on the African continent. Their yearly income is around 83 836 billion dollars. The most prominent branch of economics is agriculture. Around 85% of the laborers are farmers. The main products they have and export are coffee, oil seeds, cereals, legumes, sugarcane, potato, maize (corn), and vegetables. It is interesting to mention that Ethiopia is the number one producer of coffee on the African soil. Other main export items are cattle, khat, gold, and leather products. Also, they are among number one exporters of flowers and plants in general.
Conclusion
Africa is one of the richest continents with respect to natural resources and wildlife. Most of the African countries are rich in noble metals, fossil fuels (oil, petrol, and natural gas), diamonds, but also cattle, wildlife, forests, and flowers. It is one of the most popular touristic destinations; everyone wants to see the pyramids, lions in their natural habitat, the snow on Kilimanjaro and the like.
I hope that this article on the richest countries in Africa was helpful. If you are interested, visit the Country Rankings Page!
