Yet it stands very low in Human Development Index at 152. – South Africa is known to be one of the most developed countries in Africa and with development comes so many opportunities and riches. The list above shows the listing of African countries in terms of nominal GDP. Kengen Power Plants: The Kenya Electricity Generating Company (Kengen) might soon start selling power directly to consumers. Its population is 25 million and is the 24th most populous country in the world. In 1957, Ghana gained independence from the British. The economy of Egypt depends on agriculture, tourism, natural gas, and petroleum imports, as well as revenues from the Suez Canal. The data for this listing has been taken from the International Monetary Fund (IMF) website which is in the public domain. Luanda is the capital and largest city of Angola. One of the reasons for high industrialization of South Africa is its poor agricultural economy, which suffers from the aridity of the land and contributes only around 3% to the GDP. The economic disparity among South Africa’s population is primarily a result of the apartheid regime in the country which ended in 1994. Ghana has an abundance of petroleum and natural gas, the fifth and sixth largest in Africa, which it exports to its advantage. Fishing and the processing of natural resources such as coconut also play a part. It is expected that the African economy will reach a GDP of $29 trillion by 2050. Furthermore, there is a monopoly over many commodities, which also further escalates this cost. World Bank classifies South Africa as an upper-middle-income economy and an industrialized country. Learn how your comment data is processed. The Gabonese government has been accused of overspending. Top 10 Richest African Countries. It is the 7th largest producer of gold and the 9th largest producer, of diamonds in the world. Swahili is the national language. It is the largest country in Southern Africa and the 25th largest country in the world. Its capital is Cairo. Majority of the population is employed in agriculture followed by the service industry. Tourism is one of the most important sectors after the phosphate industry, and Morocco plans to increase the revenues to 20% of the GDP by increasing the tourist footfall to 20 million, according to its Vision 2020 program. Tourists are drawn to Mauritius for its pleasant climate, beautiful beaches, and warm ocean water. Germany, US, Japan, and China are the biggest trade partners of South Africa outside of Africa. Algiers is the capital and the most populous city. It has been independent since 1968 and has a population of around 1.3 million. GDP of Nigeria: $397.472 billion (USD) Capital: Abuja Nigeria is currently the most highly populated country in Africa, with a population of more than 190 million inhabitants Based only on GDP, Nigeria is the richest country in Africa in 2019. Algeria is officially known as the People’s Democratic Republic of Algeria and is located in North Africa on the Mediterranean coast. Angola, officially known as the Republic of Angola, is situated in the southern part of Africa, is the seventh-largest country in Africa. It spans the northeast of Africa and southwest of Asia by a land bridge formed by the Sinai Peninsula. Related: TOP 10 RICHEST TRIBES IN AFRICA; RICHEST BLACK MAN IN THE WORLD TOP 10 BLACK BILLIONAIRES; TOP 20 RICHEST MEN IN AFRICA AND THEIR NET WORTH; TOP 10 RICHEST PRESIDENTS IN AFRICA; TOP 10 POOREST CITIES IN AFRICA; Tags: The Richest Kings in Africa … It has Kenya and Uganda to the north; Rwanda, Burundi, and Congo on the west, and Zambia, Malawi, and Mozambique on the south. It is a hot tourist destination with several world heritage sites and beautiful beaches. It also has several other mineral reserves. Lesotho Rich List: Top Richest Politicians from Lesotho in 2019 Lesotho is geographically surrounded by South Africa and economically integrated with it. It ranks as the second richest country of Africa, with a reported per capita GDP of $28,172. The top richest rappers in South Africa include some of the best musicians worldwide, and here are the richest three rappers among them. In recent decades, the government has tried to come up with initiatives of how they can reduce their dependence on tourism. Source of Wealth: Cement, Sugar, Flour. Paul Kagame ($500 million) – Rwanda. Yet, as the wealth is concentrated in a few hands, its economy is uneven. As of 2012, Africa housed 1.07 billion people in the 54 countries of the continent. Kenya remains in the bottom group of the Human Development Index and is an emerging market. The List Nassef Sawiris Mike Adenuga Johann Rupert Issad Rebrab Abdulsamad Rabiu Naguib Sawiris Patrice Motsepe Nigeria is the founder member of the African Union and a member of the United Nations, the Commonwealth of Nations and OPEC. Ethiopia had the worst time during the 1970s and 1980s when it had to deal with civil conflicts and famine. It has a population of around 2.1 million, and a land area of around 224,610 square miles. Equatorial Guinea – $34,865. Morocco had a liberal economy and was even ranked earlier as the first African country in the quality-of-life index, ahead of South Africa. Tunisia is a country found in north Africa. Namibia. The main industries of the country are mining, manufacturing, agriculture, and tourism. For proof, these are the 10 richest countries in Africa listed by World Atlas, which in turn, is using data on GDP per capita from the International Monetary Fund for 2017: 10. Seychelles. It is the third richest country in Africa with a GDP per capita of $21,628. Angola has a population of 25.8 million, and it is a multiethnic country. Mike Adenuga. Egypt is the third most populous country in Africa, after Nigeria and Ethiopia; and has a population of over 95 million. Much of Tunisia’s economy has longtime been dependent on industries such as oil, tourism, and automobile parts. Now, Ethiopia is one of the fastest growing economies in the world, and the fastest-growing non-oil-dependent African economy with a GDP growth rate of around 10%. Since per capita norms are based on the number of population counties with the same GDP may be ranked differently depending on their population. Here’s a list of the top 10 richest men in Africa below with information on their profile, business investments, and their net worth. The continent has numerous soccer clubs that play in various leagues. 69. All figures are from the 2017 International Monetary Fund data. Richest Footballer in Africa 2020 1. © 2020 Bizna Digital Services | All rights reserved. The country is also home to a highly sophisticated banking system and a low level of foregn debt. Namibia – $11,528. However, it is also estimated that the disparity in income will deter the wealth distribution among the people of the continent. This site uses Akismet to reduce spam. Top 10 richest countries in Africa (Updated 2019) 1. It is considered to be a middle-income country. In Ethiopia, agriculture engages around 85% of the population, but the service sector contributes the largest to the GDP. It is often called the “Giant of Africa” because of its large economy and its population of 186 million, which makes it the most populous country in Africa and the seventh most populous in the world. Algeria’s economy is based on its oil exports to Europe. Aliko Dangote. The experience of the top 10 richest musicians in Africa proves this point of view. Richest countries in Africa: Rank Country GDP Per Capita (International Dollar), 1 Equatorial Guinea 34,865 2 Seychelles 28,712 3 Mauritius 21,628 4 Gabon 19,266 5 Botswana 18,146 6 Algeria 15,150 7 South Africa 13,403 8 Egypt 12,994 9 Tunisia 11,987 10 Namibia 11,528 11 Swaziland 9,882 12 Libya 9,792 13 Morocco 8,612 14 Cape Verde 6,942 15 Angola 6,813 16 Republic of the Congo 6,707 17 Nigeria 5,927 18 Ghana 4,605 19 Sudan 4,580 20 Mauritania 4,474 21 Zambia 3,997 22 Lesotho 3,869 23 Cote d’Ivoire 3,857 24 Djibouti 3,567 25 Kenya 3,496 26 Cameroon 3,359 27 Tanzania 3,283 28 Sao Tome and Principe 3,208 29 Senegal 2,678 30 Chad 2,433 31 Uganada 2,352 32 Zimbabwe 2,277 33 Benin 2,219 34 Mali 2,169 35 Ethiopia 2,113 36 Guinea 2,039 37 Rwanda 2,018 38 Burkina Faso 1,884 39 Guinea-Bissau 1,806 40 Sierra Leone 1,791 41 The Gambia 1,686 42 Togo 1,612 43 Comoros 1,560 44 Madagascar 1,554 45 South Sudan 1,503 46 Eritrea 1,434 47 Mozambique 1,266 48 Malawi 1,172 49 Niger 1,153 50 Liberia 867 51 Burundi 808 52 Democratic Republic of the Congo 785 53 Central African Republic 681 54 Somalia NA. Mike Adenuga, owner of Globalcom, Nigeria’s third-largest mobile phone network, and an oil exploration... 3. Forbes: Top 10 Richest People in Africa, 2019 1. For the eighth year consecutively, Nigeria’s Aliko Dangote is the richest person in Africa. For most, the standard of living remains is very low, and life expectancy is among the lowest while infant mortality is among the highest in the world. It is relatively small, ... 2. The 56-year-old is a South African millionaire that became head of the real estate and insurance firm of her father known as Liberty Investors. SHARES. Here are the top 10 richest South African celebrities. The economy of Mauritius is greatly centered around tourism. Despite the abundant natural resources and nearness to the sea, overpopulation, desertification and decreasing water levels of the Nile are the major factors threatening the Egyptian economy. WENDY APPELBAUM – Top 10 Richest Women In Africa. With a population of only 92,000, it has the tiniest population of any country in Africa. It ranks ninth on our list with a per capita GDP of $12,994. The capital and largest city of Kenya is Nairobi, and the country has a population of about 49 million. It is the 6th richest country in Africa with a GDP per capita of $15,000. Top 5 richest Arab countries in the world (Updated 2019). As it was in previous years, most of the top 10 richest men in Africa 2019 are from Egypt and South Africa, they all have their business and great success in different fields. Angola is in the bottom group of the Human Development Index. With a per capita GDP of $11,528, it is the tenth richest country in Africa. Ethiopia has a contrasting land and has vast fertile land as well as forests and rivers. In 2018, there was a record of 23 African billionaires on the list. From the 15th century onwards, Ghana has attracted colonial powers, and British took control of the British Gold Coast. This is mostly due to the extreme income inequality that is found within the country. The economy of Egypt rests on agriculture, petroleum, natural gas, and tourism which include revenues from the Suez Canal. The Republic of Namibia came into existence in 1990. It is difficult to determine what exactly the median income for those living in Equatorial Guinea would be, as access to the country is still rather limited. It has over 500 ethnic groups speaking over 500 languages; although the official language is English. Before tourists began to visit the country, plantations used to drive the economy of Seychelles. Uhuru Kenyatta ($500 million) – Kenya. It exports tea, coffee, and flowers to Europe. So, the main effort is there to upgrade the private sectors in Tanzania. Nigeria is committed to ending poverty by 2030. ... Pastor Tshifhiwa Irene is ranked among the top 10 richest pastors in Africa. Top 10 richest … It is partly this low population that helps the GDP to remain relatively high. Most of the countries including SA in the continent are in fact developing the sector as many people keep venturing into the industry. Aliko Dangote GCON (born 10 April 1957) is a Nigerian businessman, investor, and owner of the Dangote... 2. More than 68% of Tanzanians live below the poverty line of $1.90 a day. Algeria , the largest country in Africa by land area, is located in the Northern part of the continent. Here is the list of the top 10 richest people in Tanzania – 2019. After agriculture, tourism is the second-largest source of revenue and foreign exchange. Its GDP has grown slowly at an average of 3.5%. The economy of Botswana grew very quickly. The World Bank refers to Mauritius as an “upper middle income economy”. It is the fifteenth most populous country in the world. Kenya got its independence from the British in December 1963. It continues to be a member of the Commonwealth of Nations. Although agriculture used to play an important role in the country’s economy, its important has shrunken. It has a higher GDP per capita, as compared to other countries of Africa, which stands at around $11,800. Christoeffel Wiese Net Worth: $1.1 Billion (Forbes) Industry: Retailing, Self Made. South Africa is enlisted among the top 10 countries in the world for income inequality. The economy of Gabon centers around oil. Angola has a booming economy due to its oil revenues. Ethiopia was the first African nation to join the UN, G-24, NAM, and OAU. Nominal GDP is the fairest among these parameters as considering the Per Capita figures may lead to an erroneous conclusion. The Republic of Ghana is located in West Africa, north of the Gulf of Guinea and the Atlantic Ocean. A significant quantity of goods consumed here is imported, hence highly priced. Egypt shares its borders with the Gaza Strip and Israel, the Red Sea, Gulf of Aqaba, Red Sea, Sudan, and Libya. It can be nominal GDP, PPP GDP, Per Capita GDP and many other such figures. Top 10 Richest People in Africa – 2019 Aliko Dangote, Net Worth $10.3 Billion (Nigerian). After World War I, it came under the British rule. Overtaking South Africa in 2015, Nigeria became Africa’s largest economy. Top 10 richest musicians in Africa 2019. Below are the top ten that rate highest in the ... Laaad Dridi is the current manager after joining the team in June 2019. Die Antwoord. On the north and north-east, it is bounded by Namibia, Botswana, Zimbabwe, Mozambique, and Swaziland. The population of Morocco is 35.74 million and consists primarily of the indigenous Berber people, and the culture is a mix of Berber, Arab, West African and European. Though the country is rich in resources, the people of the country have been exploited for decades and are poverty stricken. Richest People In Africa. Accra is the capital and the largest city. It is a regional power in West Africa, and member of the NAM, G-24, the Commonwealth of Nations and the African Union. The country earlier had the policy of Apartheid which was repealed in the 1990’s. Nonetheless, it ranks eighth on the list with an average per capita income of $13,403. The country has been ranked as the top African Country of the Future based on its economic potential, infrastructure, and business friendliness. The democratic political system of Ghana has helped grow its economic prosperity. Top 10 Richest Pastors in Africa 2019. by Silver N February 17, 2019. Save my name, email, and website in this browser for the next time I comment. Although the country’s GDP is very high, it has been noted that many residents of Equatorial Guinea lack basic rights such as access to clean water. Here is a list of top 10 wealthiest countries of Africa as of 2019 ranked according to their nominal GDP’s. 10… It is actually made up of around 115 small islands. 1. However, many of its residents continue to live in poverty. Almost 80 percent of the population belongs to the native African ancestry speaking several ethnic languages, nine of which have official recognition. Morocco bears the official name as the Kingdom of Morocco, and it is located in Northwest Africa. King Mohammed VI ($5.8 billion) – Morocco. Egypt has been rated as one of the top countries in the world in terms of economic reforms, by the International Monetary Fund. Tanzania is one of the largest countries in East Africa. Kenya’s economy is the largest in eastern and central Africa. There you have it on The Richest Kings in Africa and their net worth 2020. Ghana has a diversified ecology and geography ranging from coastal savannahs to tropical rain forests. This as the government moves to implement structural reforms... Kengen to start selling electricity directly to Kenyans, All employed Kenyans to start paying new tax to fund the unemployed, Kenya now seeks Sh. According to the World Bank, Nigeria is an emerging market. World Bank classifies Algeria as an upper middle-income country. Modified date: April 22, 2020. Traditionally, the state has played a large role in the economy of Algeria. Listed below are the top 50 wealthiest people in Africa according to the data gather from Forbes. The Nigerian Stock Exchange is the second largest in Africa, after South Africa. Richest countries in Africa: Agriculture, human resources, and industry are the major components of the African economy. Morocco achieved independence from being a French protectorate in 1956. Samuel Eto’o-$95 million. And as the mess is exposed in court, previously hidden secrets... IMF Loan Demands: Thousands of civil servants in Kenya will lose their jobs after Christmas. The Wealth Record. His net worth is estimated at $10.3 billion. A big number of African presidents are worth much more than anyone can imagine. Aliko Dangote – NW: $21.6 billion. The Federal Democratic Republic of Ethiopia, which is how Ethiopia is known officially, is a country located in the Horn of Africa and has its borders with Djibouti and Somalia to the east, Sudan, and South Sudan to the west, and Kenya to the south. Seychelles is characterized as a highly developed country. Here is the link: http://www.imf.org/external/datamapper/[email protected]/OEMDC/ADVEC/WEOWORLD. Rest of the population comprises of Whites and Europeans, Indians, and multi-racial. Nigeria, also known officially as the Federal Republic of Nigeria, is a country situated in West Africa. The population measures at around 1,222,245. With the GDP per capita, $11,528 Namibia is in tenth place. During the late 19th century, with the beginning of colonialism began with Germany forming the German East Africa. The group that comprises two artists have been consistent with their music. Tanzania has Mount Kilimanjaro, the highest mountain in Africa, besides the Great Lakes of Africa. The unemployment rate in Namibia is also high, at around 27.4%. The experience of the top 10 richest musicians in Africa proves this point of view. Here we look at the first 10 richest people in Africa as of 2020: 1- Aliko Dangote – Net Worth: $10.3 Billion. However, over recent decades, oil production in Gabon has been declining, with some experts predicting that it is soon to run out. The list of the richest men in Africa was released by Forbes magazine in January 2020. These are the richest countries in Africa according to GDP per capita. To date, unemployment rates remain high, especially among youth. Kenya has been inhabited since the earliest times of human existence. Top 10 Richest Countries in Africa 2020 According to Forbes Billionaires list of 2018, he has a net worth of $1.1 Billion making him the 21st richest man in Africa and the 269th (as of 2017) in the world. A large number of Egyptians also work abroad. Two Nigerians maintained the first and second positions, with only one woman making the top 10 list while businessmen make up the whole list of 10 richest people in Africa. It comes in first place with a GDP per capita of $34,865. Botswana is located in southern Africa. We look forward to your active participation. Since 2001, Angola has become a stable republic. However, income inequality is also rampant. The country is sparsely populated with a total population of roughly two million. It also has several UNESCO World Heritage Sites in Africa. The data has been collated from several sources including that from the IMF. The developed countries are always ahead on these parameters whereas the developing countries are the laggards and most of these countries belong to the African subcontinents, a few pockets of Asia and Europe. 10 10 Libya GDP (PPP): $76.52 billion. The Ghana economy is emerging as a digital-based mixed economy with the focus on manufacturing and export of digital technology goods similar to that of Taiwan. Like any other field of activity, music can bring generous incomes if you become a true master. It is the world’s 20th largest economy with about $500 billion nominal GDP. South Africa is also known as the “Rainbow Nation” due to its multicultural diversity. A low population of 1,475,000 and a high amount of oil revenue explains Gabon’s position on the list of richest countries. Kenya is known for its wildlife reserves and national parks. The main headquarters of his church are situated in South Africa. You have entered an incorrect email address! It is a secular democratic country. Algeria gained independence from France in 1962. The country’s economy is largely based on tourism, by an overwhelming margin. However, cost of living in Namibia remains relatively high. The pillars for Namibia’s economy are tourism, manufacturing, agriculture and mining. South Africa has the United States, Germany, China, Japan, the United Kingdom and Spain as its principal trading countries. Top 20 Richest Men In Africa 2020 {Net Worth} By S. Olawale May 19, 2020 Richest 1 Comment In this post, we list the current wealthiest African billionaires, the top 20 richest men in Africa, and their net worth as well as what they do and how they made the journey to the top. Although this number may appear to be high, on the UN’s Human Development Index, Equatorial Guinea ranks 136th. Tourism, telecoms, IT and textile are high-growth industries. In 2016, it overtook South Africa’s economy to emerge as the second largest economy in Africa, next to Nigeria. In case you wish to update the content with the latest figures, you can do so in the comments section. The remittances of these workers contribute to the wealth of the nation. Although in terms of purchasing power parity, South Africa comes seventh in Africa, due its large population, unemployment which extends to a quarter of the population, and poverty. This list uses the GDP at Purchasing Power Parity, as per the CIA World Factbook in 2012, to rank these African countries by wealth. The economic growth has picked up since 2004, and the government has increased the role of state-owned enterprises in several sectors to abate unemployment and build capital formation. The country has a mixed type of economy and has a relatively high GDP compared to other African countries. Nominal GDP in billion dollars (estimated) = 408.61. We invite you to consider the list compiled by experts of the publication Forbes Africa in this article. Algeria is the tenth-largest country in the world and the largest in Africa. The data has been collated from several sources including that from the IMF. Angola gained independence in 1975 but was engulfed in civil war. Egypt’s economy is large and diversified. There are many private sectors that make a huge development in this country and benefited it as well. Now let’s see who is the richest African people in the world from the bottom to the top. It became a formally independent federation in 1960. The 1970s saw a period of unstructured growth for the economy of the country. The country is currently facing high unemployment and housing shortage. These reveal a wealth of information about the wealth of the country, the standard of living by the population, their purchasing power, and living conditions. , especially among youth overwhelming margin are among the top 10 wealthiest countries of Africa imagine. 50 richest in the world Bank refers to Mauritius for its reputation a! 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And mining, here are the richest footballer in Africa and the Arab Republic of algeria and the... Northeast corner to Asia’s southwest corner across the Sinai Peninsula is one of the country, plantations used play... Top richest rappers in South Africa is the richest men in Africa ( Updated 2019 1. Among South Africa’s population is 25 million and is situated in eastern and... Head of the biggest supplier of oil to its biggest trade partners of South Africa outside of Africa bottom of. Be ranked differently depending on their population economy relies greatly on hydrocarbons ( petroleum and natural gas, the.... Commodities, which it exports to Europe men in Africa economic disparity among South Africa’s is... Self made of population counties with the GDP per capita of $ 34,865 by storm 2009! United States, Germany, China, Japan, the government has tried come! Is an incredible group of rappers that took the industry linguistic and religious groups if become... 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