20 Richest African Countries 2015: See How The Giants Have Fallen

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Africa is one of the largest continents in the world in terms of land mass. But when it comes to monetary wealth, Africa has most of the poorest countries in the world. However, not all African countries are poor; there are equally some wealthy countries in Africa but the number is far less than that of the poor ones. The ranking of richest African countries is based on the Gross Domestic Product (Purchasing Power Parity) GDP (PPP) which gives the value of all the final goods and services produced within a country in any given specific year.

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A nation’s GDP at purchasing power parity (PPP) exchange rates is the sum value for all goods and services produced in the country in any given year assessed based on prevailing prices of the same products in the United States. This is the measure adopted by most economists when comparing living conditions or use of resources across countries.

Top 20 Richest Countries In Africa

20. Namibia, GDP: $15,743 Billion

Foreign Exchange Reserve: $2, 267 Million

Namibia

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The Namibian economy has a modern market sector, which produces most of the country’s wealth, and a traditional subsistence sector. While Namibia is quite wealthy, its wealth is not evenly distributed among the citizens and as a result, over a half of the population are living below poverty line. The economy is sustained by the production of minerals like diamonds.

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Flip through the pages using the link below to see which countries have been shaken off

19. Mauritius

GDP: $19,270 Billion

Foreign Exchange Reserve: $3, 919 Million

Port-Louis

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The growth of the economy of Mauritius is all thanks to the kind of government it has. The free-market economics that has been followed by the successive governments, created a highly competitive market with ample room for growth. With no natural resources to explore, the economy o Mauritius has relied heavily on tourism, ICT and financial services.

18. Gabon

GDP: 24,571 Billion

Foreign Exchange Reserve: $2,470 Million

Gabon

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With the declining state of oil production in Gabon, it is still one of the highest producers of oil in sub Saharan Africa. Over the last forty years, the country has been quite dependent on oil to sustain its economy. But more recently, it is trying to diversify and branch out into many other areas so as to have a diversified economy.

  • Western Sudan (غرب السودان)

    firstly support Education EducationEducationEducationEducationEducationEducationEducationEducationEducationEducationEducation it’s the only way we can develop and go forward Stop fighting for religions because all of them from the god live as brothers do think as one nation stop thinking about tribes do something better for your life be useful apply human rights support kill the discriminations dat’s it
    hope see all African countries on the top because you’re the cradle of man kind must be the leader
    peace Sudan

  • koketso ramatsetse

    I’m proudly SOUTH AFRICAN. We are climbing the ladder to be top 10 richest countries in the world

  • Welbeck

    But the most developed countries in Africa are South Africa & Morocco.

  • Kelkay S

    It is great news for Ethiopia, top 10 economy in Africa even without oil.

  • amanuel

    ethiopia??????????????

  • Nuurjahan .

    Ethiopia? Are you for real? I been to Ethiopia many time, and it is a shit country in Horn of Africa. It’s better if you replace that country with Djibouti.

    Ethiopia 8th richest country in Africa? Not true!

  • wondimagegn

    People
    can’t eat GDP.Most of the people are still very poor that is the reason
    why numbers don’t matter or can’t tell you the living slandered of the
    country.still we need to work hard as well as to have balanced wealth
    distribution!!!

  • Nuorah

    I love Africa

  • ibrahim tarawallie

    Why,Sierra Leone is not part of the top 10 richest country in African?

  • Buddy

    Fake GDP comparison. This needs to be seen against population size in which case Ethiopia will stand at the bottom of the list with its current population of over 96 million. Come on we are talking about riches which concerns the people. This is a failed state where no system of basic services work – electric power interruptions, no water on the pipe, no telephone and internet network, no fuel, no sugar, no cement, artificial inflation of land and house prices (more expensive than in new York and London), no cement, no iron, no freedom of expression….nothing there….

  • Tshidiso King Diale

    No where I would want except for in my country South Africa… I have heard about it all but to me my country is the best…

  • http://standardorigin terefe habte

    I love africa

  • sun

    U r a shit nuurjahan

  • sub

    U r shit nuurjahan!!!!

  • truvane

    Please update your reports. According to the 2015 IMF World Outlook Database, Nigeria is the richest country in Africa and the 21st richest in the world with a GDP of $1.109 trillion!!! They are closely followed by Egypt with GDP of $989.9 billion, South Africa is a far third with GDP of $725 billion.

  • truvane

    Buddy, if we are to take your analysis that GDP should be divided by population size i.e, GDP per capita, then Qatar will be the richest country in the world and countries like China and the U.S will not be among the top 10, countries like San Marino and Singapore will be richer than the U.S, in fact China which is presently the richest will be 87th. In Africa, if GDP per capita is used, Equatorial Guinea will be the richest, closely followed by Gabon, and we all know that this is not the current situation. Therefore, my conclusion is that the GDP of a particular country rather than the GDP per capita is the true reflection of the state of economy in that country…