The billion people living in Africa are not just limited to the weakest economies; there is also an incredible diversity of culture and natural resources. Five African countries make up part two of our list, including Ethiopia and four others: South Sudan, Rwanda, Liberia & Ghana. These six nations have a combined GDP that ranks them among some other verse wealthiest places across all five continents!
Despite their large population, much of Africa remains poverty-stricken. However, some countries on the continent have managed to become highly prosperous due to having rich mineral resources like gold and diamonds with a high economic value per unit weight. These nations can be referred to as “rich mints”.
We will look at what makes them so successful while also examining some challenges they face along with ways such as human rights violations or lack of infrastructure needed for development which plans how to overcome these issues moving forward.
The Richest African Countries 2022
| Rank | Country | GDP |
|---|---|---|
| 1 | Nigeria | $480.482 Billion |
| 2 | South Africa | $415.315 Billion |
| 3 | Egypt | $396.328 Billion |
| 4 | Algeria | $163.812 Billion |
| 5 | Morocco | $126.035 Billion |
| 6 | Kenya | $109.491 Billion |
| 7 | Ethiopia | $92.757 Billion |
| 8 | Ghana | $75.487 Billion |
| 9 | Angola | $70.339 Billion |
| 10 | Tanzania | $69.238 Billion |
| 11 | Cote D'Ivoire | $68.845 Billion |
| 12 | DR Congo | $54.832 Billion |
| 13 | Cameroon | $44.806 Billion |
| 14 | Uganda | $43.243 Billion |
| 15 | Tunisia | $42.733 Billion |
| 16 | Sudan | $35.919 Billion |
| 17 | Senegal | $27.576 Billion |
| 18 | Libya | $27.300 billion |
| 19 | Zimbabwe | $25.791 Billion |
| 20 | Zambia | $21.699 Billion |
With 54 countries in Africa, there has been a lot of growth and development recently. Some nations have outperformed their predicted rates, while others struggle with dismal economic conditions.
The GDP (GNP) of African countries is growing rapidly. The five nations with the highest annual growth rates are Angola, Ghana, Mozambique, Mohammedia Arabia and Sudan, ranking within the top 20 worldwide for this category! Three out of four continents have now been covered by our analysis,
This shows that North American and Western European economies still lag compared to their emerging market counterparts regarding today’s generation’s success. Of course, a lot has changed since last year’s article. But, as you can see from these updated stats on Nigeria (USD 514B), Africa continues its leadership role among world regions.
Dependency on oil
Oil is a mineral that powers many African countries, making certain economies dependent on the industry. For example, Libya has considerable revenue from oil rents accounting for over 40% of GDP or more than significant export products such as coffee and bananas, which represent 13%.
The rise to power throughout much if not all parts of Africa by leaders who were once rebels due mainly because they had to access tv money fueled fears among locals about how their lives would change the following independence; however, what was overlooked at first glance soon afterwards appeared: without ample resources like natural resources there can be nothing.
The giants do not make the ranking.
The GDP per capita measures an economy’s productivity and standard of living in terms of dollars earned by each person. The ten African countries with the highest currencies are mainly located near Eastern Europe rather than Western Asia, which may explain why they’re so cheap to live on compared without their small population sizes!.
The biggest economies across all corners on this planet can be found within Africa – but there’s not one single country that stands out as having above-average prosperity among these vast numbers… unless you happen upon Lesotho (the smallest nation) where life seems much more affordable at just under $2/dayexperience level.
