Top 10 Richest Countries in Africa Africa is the world's second most populous continent. According to the United Nations, the African continent is formally divided into 54 countries. We've compiled a list of Africa's top 10 wealthiest countries based on GDP. Many of the world's poorest countries are found in Africa. Several African economies are in trouble, poverty is widespread, and the continent's recovery from the COVID-19 pandemic is hampered by a vaccine shortage. Many African countries, including Cameroon, Chad, Nigeria, and Somalia, are at war with terrorist insurgencies or with one another, putting additional strain on their economies. Despite these challenges, Africa's 54 countries have among the fastest growing economies in the world. Agriculture, trade, and natural resources are expected to propel the African economy to $29 trillion in GDP by 2050. The region has an eager and expanding workforce, with 20 million new job seekers per year in Sub-Saharan Africa alone. In terms of technology, Africans are catching up with the rest of the world. Every day, over 90,000 people in Sub-Saharan Africa use the internet for the first time. Africa may be the least developed of the continents, with even the richest African countries trailing far behind the world's richest, but its potential is enormous and undeniable. Today, we'll take you on a tour of Africa's wealthiest countries. Stay tuned as we progress through the countdown. Please consider subscribing to Africa Reloaded. 10. Angola $66.49 billion Angola drops from 7th to 10th place in 2020. Since the end of the Angolan Civil War in 2002, the government has implemented political and structural changes to aid in the stabilization of the country's oil-based economy. Crude oil sales accounted for more than a third of its GDP, and 90% of its export profits in 2020. Despite its reputation as a candidate for significant economic growth in Africa, recent attempts have failed. Its GDP will fall from $91,527 billion in 2017 to $66.49 billion in 2021. However, recent news suggests that the country may be emerging from a multi-year slump. 9. Coat Devar $70.99 billion Coat Devar, or the Ivory Coast, is a West African country known for its beaches, rainforests, and French colonial history. The main urban center is Abagen, which is located on the country's Atlantic coast. For the first time, the Ivory Coast has entered the top 10 wealthiest countries in Africa by GDP, ranking 9th. Despite two civil wars in the last 20 years, the country's strongest industries are services, industry, and agriculture, which account for the majority of the country's consistent growth. 8. Ghana $74.26 billion Ghana is one of Africa's economic dark horses. Quietly increasing its GDP from $67,077 billion to $74.26 billion by 2021 and climbing one spot on the list. Ghana's main exports are cocoa, crude oil, gold, and lumber. In the first quarter of 2019, the country's economy grew by 6.7% with non-oil growth of 6%. Last year, Ghana was put to the test as concerns about its energy sector grew due to high costs and a lack of natural gas supply, but it survived the COVID-19 outbreak and other problems. 7. Ethiopia $93.97 billion Ethiopia has surpassed Angola, which ranked last among Africa's wealthiest countries in terms of GDP last year. Recent investments in Ethiopia telecom and other state-owned enterprises have allowed the Ethiopian government to open up the country's notoriously closed-knit economy to international investors. Ethiopia's government and prime minister, on the other hand, have recently come under international scrutiny for their apparent inaction in the face of alleged Tigrayan war crimes. 6. Kenya 106.04 billion dollars East African country with an Indian Ocean coastline Despite the COVID-19 outbreak, which cost the country over 700,000 jobs and sent it into its first economic downturn since 1992 Kenya, one of Africa's fastest growing economies remains on the list. Recent investments and focus have aided Kenya's economy in recent years. cementing it as one of Africa's future governments. However, the country's agriculture sector remains heavily reliant on it to keep the country afloat. Coffee, tea, and corn are among the crops grown in the country's agricultural sector, which accounts for approximately 3-5% of GDP. While the country's industrial sector generates the remaining GDP. 5. Morocco 124 billion dollars Morocco is known for its Berber, Arabian, and European cultural influences. It is located in North Africa and borders the Atlantic and Mediterranean seas. The Jema LFNA square in Maraikashis Medina, a maze-like medieval enclave, provides entertainment as well as salks, marketplaces, selling pottery, jewelry, and mevel lanterns. Morocco's ranking as Africa's wealthiest country has not changed since last year. Morocco's powerful service sector generates the lion's share of the country's GDP, followed by manufacturing and agriculture. 4. Algeria 151.46 billion dollars Algeria is a country in North Africa with a Mediterranean coast and a Saharan desert interior. Many empires, such as the ancient Roman ruins, have left their mark into Paza. Algeria's ranking remains unchanged from the previous year. The hydrocarbons industry accounts for more than 70% of the North African countries' GDP. Non-hydrocarbon development is still being driven by commercial services, industrial, construction, and public works, and agriculture. Recent tensions with Morocco and France, specifically the closure of a major gas pipeline, could have an impact on the country's economy this year. 3. South Africa 329.53 billion dollars South Africa, as the continent's southernmost country, is endowed with a diverse range of ecosystems. In terms of GDP, the country dropped to third place on the list of the wealthiest countries in Africa. After two quarters of negative GDP growth, South Africa will enter a recession in 2020. The COVID-19 outbreak and subsequent lockdowns wreaked havoc on the country's economy and Eskum. The country's main power provider has been blamed for contributing to the country's dwindling economy, which was once the continent's leader. 2. Egypt 394.28 billion dollars Egypt, which connects Northeast Africa and the Middle East, dates back to the pharaohs. Ottoman landmarks such as Mohammed Ali Mosque and the Egyptian Museum, a treasure trove of antiquities can be found in Cairo the capital. Egypt will overtake South Africa as Africa's second wealthiest country in 2021. According to GDP, Egypt's GDP has been driven by gas extraction, tourism, wholesale and retail commerce, real estate and construction, and when combined with economic reform programs and rising employment levels, the country remains an outstanding example of an African powerhouse nation. 1. Nigeria 514.05 billion dollars A country on the Gulf of Guinea in Africa with many natural wonders and animal reserves. Since her appointment to the Continental Leadership Board in 2018, Nigeria has been the continent's wealthiest and largest country in terms of GDP. Despite the hardships of the COVID-19 epidemic, the country's GDP increased from 446,543 billion to 514.04 billion dollars. Nigeria is Africa's largest crude oil supplier and has one of the continent's most prosperous agricultural sectors. Nigeria is the African country with the highest agricultural output, with key agricultural exports including cocoa, peanuts, rubber and palm oil. Nigeria's oil and petroleum industry accounts for more than 10% of the country's GDP. The African community has agreed to move forward with reforming international tax regulations, specifically by making major adjustments to the allocation of taxation rights. In order to address the current imbalance that benefits rich countries, residents at the expense of poor countries based on the G20 department restructuring forum. They also call in the international community to work together to find a long-term multilateral, consensus-based solution to the fiscal challenges posed by economic digitalization. Thank you for sticking with us until the end. If you enjoyed this video, please like, share, comment and subscribe to Africa Reloaded for more updates.