TOP 10 RICHEST AFRICAN COUNTRIES 2018
Africa is the second largest continent in the world, housing 54 countries. Although Africa has abundant natural resources, Africa remains the world’s poorest and most undeveloped continent. However, some countries in Africa are fairly wealthy. These are the top 10 richest countries in Africa ranked by GDP (PPP) per capita.
Namibia is a country in southwest Africa. It is distinguished by the Namib Desert along its Atlantic Ocean coast. Mining remains the mainstay of Namibia’s economy, being the largest contributor to the GDP. Namibia is the fourth largest exporter of non-fuel minerals in Africa and the world’s fifth largest producer of uranium. Although Namibia is one of the wealthiest countries in Africa, the country’s income is unevenly distributed. Around half the population lives below the poverty line. The GDP per capita of Namibia is currently $11,500.
Tunisia is a North African country bordering the Mediterranean Sea and Sahara Desert. Tunisia’s economic growth has been dependent on Petroleum; Mining (Phosphate and Iron Ore); Tourism; Textiles. Tunisia has an annual GDP growth rate of 1.17%. The GDP of Tunisia is $12,000.
Egypt is a country linking northeast Africa with the Middle East. Egypt’s main source of income is Oil and gas. Due to Egypt’s great landmarks the second in line comes tourism. Most tourists come from Russia, Great Britain and Germany. Two further important sources of income are remittances and the Suez Canal. The GDP of Egypt is $13,000.
- SOUTH AFRICA
South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa, marked by several distinct ecosystems. It is the most industrialized in Africa. Some exports include corn, diamonds, fruits, gold, metals and minerals, sugar, and wool, chemicals, manufactured goods, and petroleum. Machinery and transportation equipment make up more than one-third of the value of the country’s imports. The GDP of South Africa is $13,400.
Algeria is a North African country with a Mediterranean coastline and a Saharan desert interior. Petroleum and natural gases are the country’s most important mineral resources. Algeria is currently one of the largest oil producers in Africa. Tourism is also an important source of income for Algeria. Algeria has a GDP of $15,100.
Botswana is a country in Southern Africa, which has a landscape defined by the Kalahari Desert and the Okavango Delta, which becomes a lush animal habitat during the seasonal floods. Since independence, Botswana has had one of the best economic growth rate in the world. The country’s main source of revenue is diamonds. Botswana currently supplies over a fifth of the world’s rough diamonds. The country’s current GDP is $18,100.
Gabon is a country along the Atlantic coast of Central Africa. The country enjoys a per capita income four times that of most nations of sub-Saharan Africa. Oil accounts for over 50 percent of Gabon’s income. The top industries include Petroleum Extraction and Refining; Manganese; Gold; Chemicals. Tourism is also an important source of revenue. Gabon has a GDP per capita of $19,300.
Mauritius is a country in East Africa. The Indian Ocean island nation, is known for its beaches. The main industries in the country are food processing (largely sugar milling), textiles, clothing, chemicals, metal products, transport equipment, nonelectrical machinery, tourism. The country is currently the third richest country in Africa having a diversified economy with growing industrial, financial, ICT and tourist sectors. Its current GDP per capita is $21,600.
Seychelles is a country in East Africa. The Seychelles is an archipelago of 115 islands in the Indian Ocean, off East Africa. It is home to numerous beaches, coral reefs and nature reserves, as well as rare animals such as giant Aldabra tortoises. The economy of Seychelles is based mainly on tourism. The country has invested in energy and tourism. It has numerous resorts and hotels that attracts tourists. Other important sectors include fishing, the processing of coconuts and vanilla, coir rope, boat building, printing, furniture and beverages. Seychelles is currently the second richest country in Africa with GDP per capita of $28,900.
- EQUATORIAL GUINEA
Equatorial Guinea is a Country in Central Africa. Oil discovery in 1995 turned the country’s economy around. The Spanish speaking country is one of Africa’s fastest-growing economies and sub-Saharan Africa’s third-largest oil producer. The government is trying to diversify its economy by developing its agricultural, fishing, financial services, and tourism sectors. Forestry, farming, and fishing are also major components pushing the economy currently. Although Equatorial Guinea is the richest country in Africa, the people of the country are not enjoying the country’s high income due to corruption of the officials. Equatorial Guinea is currently the richest country in Africa with a GDP per capita of $34,900.