Top 10 Richest African Countries in terms of GDP
Many of the world’s poorest nations are in Africa. Numerous African economies are unstable, poverty is widespread, and poor access to vaccines is slowing the entire continent’s recovery from the COVID-19 pandemic and the war in Ukraine by Russia. Moreover, many African countries, including Cameroon, Chad, Nigeria, and Somalia, are currently at war with either terrorist insurgencies or one another, which puts further strain on their economies.
Government policies and programs that are not friendly with the economy of some countries are also factors that are adding pressure on economic growth and sustainability.
Notwithstanding these challenges, Africa’s 54 countries include some of the fastest-growing economies in the world. The African economy is expected to reach a GDP of $29 trillion by 2050, powered by its agriculture, trade, and natural resources sectors. The region has an eager and expanding workforce, with 20 million new job seekers a year in sub-Saharan Africa alone. Africans are starting to catch up with the rest of the world technologically as well: Every day, more than 90,000 residents of sub-Saharan Africa log on to the internet for the first time. Africa may be the least developed of the major continents—even the richest African countries lag far behind the wealthiest countries in the world—but its potential is both substantial and undeniable.
