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Top 10 Richest Country in Africa [Update 2023]

Let’s have a glimpse of the top ten African countries with the highest GDPs in this article. Africa is such a developed continent of the world that has plenty of natural resources, industries, and a massive number of business opportunities.

 Also, there are about 54 countries on the African continent. The comprehensive list is formed by comparing these countries’ GDP growth rates. So, without any delay, let’s get through the list.

 Top 10 Richest Country in Africa List

According to the highest Gross Domestic Products in 2021, Nigeria is the 1st richest country in Africa. Get the complete list in the top 10 ranking from below:

  1. Nigeria

Region Rank 1
GDP  $480.48 Billion
GDP Per Capita $2,272

In terms of GDP, Nigeria is the wealthiest country in Africa. This country refers as the Giant of Africa according to the large population and economy. Moreover, this largest economic largest country is the world’s largest country by nominal GDP. As of 2021, the GDP of the country is about $480.48 Billion, where $2,272 per capita. 

Read more: Top 10 Richest In Nigeria

2. South Africa

Region Rank 2
GDP $415.32 Billion 
GDP Per Capita $6,860

South Africa is the 2nd largest southernmost country of Africa based on GDP. The country has a highly developed economy with all advanced infrastructures. Moreover, it is on the list of the world’s fast developing countries. Also, it is the world’s one of the largest exporters of raw materials like gold, diamonds, platinum.

Check also: Top 10 Richest Musicians in Nigeria


Region Rank 3
GDP $396.33 Billion
GDP Per Capita $3,850

Egypt of officially known as the Arab Republic of Egypt. It is the 3rd wealthiest country in Africa based on the recent GDP server of $396.33 Billion. The country is highly developing in the economy for natural gas resources, tourism, manufacturing, and construction. Moreover, it has formed an energy market based on coal, oil, natural gas, and hydropower

4. Algeria

Region Rank 4
GDP $163.81 Billion
GDP Per Capita $3,640

Algeria is currently holding the third spot on the rich list of the African wealthiest country. Along with this, it is the largest country in Africa by the measurement of total area. The country’s estimated GPD is about $163.81 Billion as of recent years. The development of the economy of this North African country depends on hydrocarbons.

5. Morocco

Region Rank 5
GDP $126.04 Billion
GDP Per Capita $3,470

Morocco is ranked 5 on this list of richest countries in Africa in terms of GDP. According to recent years’ statics, Algeria has a GDP size of $126.04 billion. The country is economically stable and developed that is dominated by mining and manufacturing. Also, for owning a number of industries, a large amount of money has been added to Morocco’s GDP over the last decade.

6. Kenya

Region Rank 6
GDP $109.49 billion
GDP Per Capita $2,200

Kenya is the country of East Africa, which is the 6th wealthiest country in the list of African top richest countries. The country is has a GPD size of $106.04 billion. It is considered one of the fastest-growing economies in Sub-Saharan Africa. The economy of the country mostly depends on its agriculture sector, which contributes to 35% of the GDP, with the main products being coffee, tea, and maize.

7. Ethiopia

Region Rank 7
GDP $92.76 Billion
GDP Per Capita $939.51

Ethiopia, or the Federal Democratic Republic of Ethiopia, is the seventh richest country in Africa. The estimated GDP of this country is $92.76 Billion, according to Statista. This is Africa’s higher coffee and honey producer country. Legumes, oily seeds, and cut flowers are also on the list of export products.

8. Ghana

Region Rank 8
GDP $75.49 Billion
GDP Per Capita $2,410

With a GDP rate of $75.49 Billion, Ghana is the eighth richest country in Africa. This is the second West African country on our list. It is a highly natural resource enriched country for possessing industrial minerals, hydrocarbons, and precious metals. The economy of the country is driven by the industry sector, especially oil, gas, and mining.

9. Angola

Region Rank 9
GDP $70,34 Billion
GDP Per Capita $2,200

With a GDP of over $70 Billion, Angola is tanked on 9 in the list of African top richest countries. The economy of the country is driven by natural gas and oil. The production of crude oil plays a vital role in foreign exchanging adds a larger amount to the overall GDP of here.

 10. Tanzania

Region Rank 10
GDP $69,24 Billion
GDP Per Capita $1,160

Tanzania is the 20th richest country of Africa, with a GDP rate of $70 billion over the last year. It is basically the country of east Africa. The economy of the country is highly dependent on agriculture, from where about 25% amount adds to the GDP. Industries including mining, manufacturing, construction, electricity, natural gas, and water supply are also significant parts of GPD growth of there. 

 Wrapping Words:

Hopefully, now you know about the top-ranked wealthiest countries of Africa comparing different countries around this continent. Thank you for being with us.

Ubali hussaini

I am the founder and editor of I love to share education news from various sources to keep readers informed.

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