Top 10 Richest Countries In Africa (2022)

Some people are confused about who the top 10 richest countries in Africa are. The top 10 richest countries in Africa in this article have their Gross Domestic Product (GDP).

It is quite interesting to know that some country in Africa is very rich even though they are facing some challenges. Some of these countries have had economic growth and development over the years.

Africa as a continent is blessed with so many countries that have some interesting natural resources which help in the increase of their GDP.

The list of the top 10 richest countries in Africa have not just the richest countries but also the countries that were able to put their natural resources together for the betterment of their citizens.

The table below comprises the list of the top 10 richest countries in Africa:

1. Egypt

Egypt has natural resources such as crude oil, petroleum, natural gas, phosphates, and so on is the richest country in Africa. However, Egypt has a strong Information Communication Technology sector, a strong economy, agriculture, fossil fuel, and so on which helps to boost their GDP per capita.

With a population of 102.3 million, it is among Africa’s most populated countries. It was officially the Arab Republic of Egypt located in the northeast part of Africa.

Currently, Egypt is Africa’s largest economy and it has a GDP of $1.38 trillion making it the richest country in Africa.

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2. Nigeria

Nigeria is second on the list of the top 10 richest countries in Africa with a GDP of $1.14 trillion. However, Nigeria has economically valuable raw materials that made them appear on the list of the richest countries in Africa.

Among some of these natural resources in Nigeria are Crude Oil, Coal, Limestone, Bitumen, Iron Ore, Gas, Gold, Tin, Niobium, and Arable Lands.

Currently, Nigeria is the continent’s biggest economy and the largest economy in Africa. Though Nigeria’s population of 2o6 million made it among the most populated countries in Africa, it still does not affect its economy.

Upon being the second richest country in Africa, Nigeria struggles with political instability, natural disaster, and armed conflict over the years.

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3. South Africa

The third on the list of the top 10 richest countries in Africa is South Africa with a GDP per capita of $861.93. South Africa has a variety of natural resources such as iron ore, platinum, manganese, chromium, copper, uranium, silver, beryllium, and titanium.

The country has the largest industrial economy with an economy dominated by mining especially the mining of gold. Among the largest oil company in sub-Saharan Africa is Sasol in South Africa.

Although South Africa appears on the list of richest countries in the world, the country is faced with poverty and unemployment. With a population of 59.31 million 30% of the people in South Africa live in poverty.

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4. Algeria

Algeria officially the People’s Democratic Republic of Algeria is one of the richest countries in Africa. The country has abundant natural resources including oil, gas, solar energy, iron, zinc, lead, silicon, and helium.

In gas production and exportation, Algeria ranks among the World’s proven gas resources, and its GDP per capita is $532.57 billion.

Currently, their population is 43.85 million and the country is faced with external challenges.

5. Morocco

Another country on the list of the top 10 richest countries in Africa is Morocco. As of 2022, Morocco has a total population of 37 million people in the area.

As one of the richest countries in Africa, Morocco is ranked among the countries with the annual GDP review, with a GDP of $302.77 billion.

Morocco has natural resources such as iron, zinc, lead, copper, fluorine, silver, manganese, salt, cobalt, and gold.

6. Ethiopia

Among the richest countries in Africa is Ethiopia with a GDP per capita of $298.57 million and a population of 115.57 million. The country is among the most populated in Africa with some good natural resources. Some of the natural resources in Ethiopia are gas, gold, copper, platinum, potash, and wildlife

Ethiopia is considered to be one of the fastest-growing economies in the region. However, the country is faced with a problem of internal conflicts.

7. Kenya

Kenya has a GDP per capita of $269.29 with a total population of 53.77 million. They are among the countries to have achieved high growth and development in the economy and in mineral resources.

The country is rich in minerals which do only make them rich but also sustain them. Some of these mineral resources include zinc, soda ash, salt, limestone, gemstones, gypsum, fluorspar, diatomite, hydropower, petrol, and hydropower.

8. Angola

Angola is the second oil-producing country in Sub-Saharan Africa. The country has its major income from the production and exportation of crude oil, and mining.

Though Angola is among the least developed country with a population of 32.87 million, its still rich in mineral resources.

Some of the mineral resources in Angola are copper, manganese, gold, phosphates, uranium, feldspar, and platinum.

9. Ghana

Ghana is among the richest countries in the world with citizens who work hard for their country to get better. However, the country’s economical growth and development over the years are attributed to the people’s hard work.

Apart from the people’s hard work in the country, the country also has other essential natural resources that made them appear on this list. Some of these natural resources include Timber, Gold, Diamond, Bauxite, Manganese, and oil.

10. Sudan

Rounding off the list of the top 10 richest Countries in Africa is Sudan officially the republic of Sudan. Gold, Chromium ore, Copper, Oil Ore, and so on are some interesting natural resources in Sudan.

Though Sudan has some problems arising from political tension they have a GDP of $183.87 which made them appear on this list.

However, Sudan has a population of 43.85.

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Below is the graphical representation of the Top 10 Richest Countries In Africa:

Summary

In Conclusion, Africa has countries with the fastest growth in the economy, below is a brief summary of the richest countries in Africa.

1. Egypt
2. Nigeria
3. South Africa
4. Algeria
5. Morocco
6. Ethiopia
7. Kenya
8. Angola
9. Ghana
10. Sudan

Which country is the richest country in Africa?

As of 2022, Egypt which has natural resources such as crude oil, petroleum, natural gas, phosphates, and so on is the richest country in Africa.

However, some of the key things which help to boost their GDP per capita and made Egypt the richest Country in Africa are:

• Strong Information Communication Technology sector
• Strong Economy
• Arable Land for Agriculture
• Fossil Fuel/Natural Gas
• Petroleum and so on

With a population of 102.3 million, it is among Africa’s most populated countries. It was officially the Arab Republic of Egypt located in the northeast part of Africa.

Apart from being the richest and most populated country in Africa, Egypt is also the most powerful country in Africa.