1 spot as the richest country in the world, the constitutional monarchy’s economy is necessarily diversified. The population measures at around 1,222,245. 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. Libreville is the capital and biggest city of the country. It is the 6th richest country in Africa with a GDP per capita of $15,000. However, in recent years, the economy has diversified. It comes in first place with a GDP per capita of $34,865. In fact, the situation is so bad that the World Bank actually named it the country with the worst income inequality in the entire world in 2018. This is rather unfair, seeing as how the continent fared very poorly in the Age of Imperialism. Which was the richest country in the world 2019? The country’s economy relies greatly on hydrocarbons (petroleum and natural gas). This is a list of List of Richest Countries In Africa as of 2020.Mauritius, Seychelles, and Equatorial Guinea are the richest countries in Africa according to the latest research. It is actually made up of around 115 small islands. South Africa. It is a mixed racial country of both White and Black. The economy of Egypt depends on agriculture, tourism, natural gas, and petroleum imports, as well as revenues from the Suez Canal. Botswana is located in southern Africa. Having one of the most developed cities in the world. Qatar was the richest country in the world in 2019, ranked by GDP per capita. A large number of Egyptians also work abroad. 10. In 2019, Kenya made a huge step towards being one of the richest countries in Africa based on GDP by posting a 5.7% growth. Still, Egypt remains one of the wealthier African countries when gauged using GDP per capita. Richest countries in Africa: Agriculture, human resources, and industry are the major components of the African economy. It is the seventh-largest country in Africa, bordered by Namibia to the south, the Democratic Republic of the Congo to the north, Zambia to the east, and the Atlantic Ocean to the west. Its capital is Abuja. Top 50 Richest Countries In The World 2020 – New year started with most individual tagging it as their year of success but what most people fail to realize is a successful nation is a product of the people in it and vice versa, hence the reason why a country with a thriving economy is most likely to produce affluent individuals. To say more correctly the country is made up of 115 small islands. The infiltration of terrorist groups and internal rebellions also serve to damage the country’s economic stability. The economic disparity among South Africa’s population is primarily a result of the apartheid regime in the country which ended in 1994. Currently, a number of African countries are among the poorest while others have some of the fastest growing economies in the world. It has been applauded for its free economy. South Africa is a country with a mixed economy that isn’t too reliant on a single thing. Kenya it is. Although it has been suspected that Seychelles may harbor offshore oil reserves, to this date none have been found. The report notes that Namibia's wealth has grown by 26% from 2008 to 2018, adding that the country was recently rated by New World Wealth as one of the safest countries in Africa. Namibia can be found in Southern Africa. There is a common perception that Africa is rich in resources but has failed to use them to fund the creation of prosperous societies. Seychelles is home to fewer than 100,000 people. Said country is seeking to bridge the gap between its rich and its poor, but it remains to be seen how well it will be able to do so in the times to come. Richest in Africa is a very low bar to clear, Libya is still far more developed than your average sub-Saharan African country (and more peaceful than quite a few), and they still have their oil. It ranks ninth on our list with a per capita GDP of $12,994. In 2019, the country experienced a high jump to a GDP value of 86,362 USD. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. The GDP of Norway ranks as the second-largest in the world. The economy of Mauritius is greatly centered around tourism. Richest countries in Africa: Equatorial Guinea is a country located in Central Africa. The country promotes innovation and entrepreneurship. It is relatively small, covering only around 10,830 square miles. It is partly this low population that helps the GDP to remain relatively high. The economy of Botswana grew very quickly. Algeria does well enough. What Does it Cost to Stay in a Retirement Home? With a per capita GDP of $11,528, it is the tenth richest country in Africa. Gradual improvements in the country’s economy have occurred since then. Briefly.co.za made a list of the 10 African billionaires and their net worth. Some examples range from high child mortality rates to a very poor human rights record. In the present time, Egypt is struggling with various issues such as political instability and the drying up of the Nile, which are hindering it from reaching its true potential. Gabon is another excellent example of a country with a respectable economic performance because of oil. However, it is also estimated that the disparity in income will deter the wealth distribution among the people of the continent. South Africa is enlisted among the top 10 countries in the world for income inequality. The list of Richest Billionaires in Africa 2019 as published by Forbes is out and Nigeria’s Aliko Dangote remains on top of the list.. Aliko Dangote, Richest Man in Africa This year’s list shows that the number of African billionaires shrunk to 20 down from 23 a year ago. The country is known for its reputation as a stable democracy. 10 of the Most Clever Stock Ticker Symbols of 2016, How Virtual Reality Game Entropia Universe Plans To Create 3 Million Jobs, How Online Ticket Brokers are Scamming Millions of Dollars Using Bots, 10 Potential Scenarios For Life at the New DreamWorks Animation Studios, Steven Rothberg Shares The Secret to CollegeRecruiter.com’s Business Longevity, Dissecting the Multi Billion Dollar Business of Televangelism, How Virtual Reality Game Entropia Universe Plans …, How Online Ticket Brokers are Scamming Millions …, Steven Rothberg Shares The Secret to CollegeRecruiter.com’s …, 10 Things You Didn’t Know About Ian Watson, The History of and Story Behind the Vineyard Vines Logo, 10 Things You Didn’t Know about Julia Hartz, The History of and Story Behind The Indeed Logo. Tunisia is one of the countries that make up the Maghreb. … All figures are from the 2017 International Monetary Fund data. Currently, Equatorial Guinea is the richest country in Africa, with a per capita income of $34,865. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. In the present time, Egypt is struggling with various issues such as political instability and the drying up of the Nile, which are hindering it from reaching its true potential. This was made possible by the War of Namibian Independence, which was fought between the People’s Liberation Army of Namibia and the South African Defense Force. Algeria , the largest country in Africa by land area, is located in the Northern part of the continent. However, it has seen some very respectable economic gains over the course of its history, which becomes less surprising when one learns that it has been a stable democracy ever since it gained independence. The World Bank refers to Mauritius as an “upper middle income economy”. Though the country is rich in resources, the people of the country have been exploited for decades and are poverty stricken. However, it has one of the highest GDPs per capita on the entire African continent, which can be attributed in considerable part to its tourism sector. 2019 15 Uganda: 123.653: 2020 16 Cameroon: 100.604: 2019 17 Democratic Republic of the Congo: 83.151: 2019 18 Zambia: 75.857: 2019 19 Senegal: 66.438: 2020 20 Madagascar: 53.409: 2020 21 Burkina Faso: 48.553: 2020 22 Mali: 48.443: 2020 23 Mozambique: 45.990: 2020 24 Botswana: 43.907: 2019 25 Gabon: 38.582: 2018 26 Equatorial Guinea: 37.689: 2012 27 Zimbabwe: 35.565: 2018 28 … However, many of its residents continue to live in poverty. 18. ... April 2019. Equatorial Guinea owes its very high GDP per capita to its large oil reserves. Traditionally seen by the West as one of the world’s poorest continents, there’s unquestionably an extreme amount of poverty in Africa. Africa is one of the richest continents in the world in terms of land-soil, favorable weather, and many more, but has rich as the continent is, its totally different story to most countries as Africa serve has to site for some of the poorest countries in the world. Seychelles is characterized as a highly developed country. Norway. It is located in the west-coast of south-central Africa. Namibia. How to apply, KDF mass recruitment dates, vacancies, requirements and venues, Emirates Introduces Special Fares for Kenyans this January, Octagon and National Bank Partners With Costa Homes to Enhance Safety of Buyers of Affordable Housing, Career profile of Kenya Airways CEO Allan Kilavuka, Kenyan woman who built parents house in 2012 finally builds her mansion, Marital problems After I Lost my First Wife to Cancer Solved, NMS to construct 62,000 rent or buy houses in Eastlands, A Mistaken Sex Message from My Husband, A Visit To Doctor Mugwenu Saved Our Marriage. Something that can be traced to the not too distant past. Image credit: Nate Hovee/Shutterstock.com. Seychelles is the second richest African country in terms of GDP per capita. Following given is a list of the top 10 richest countries in Africa as of 2019 based on their GDP per capita. Richest Tribes in Africa… Africa is one of the continents with different ethnic groups each with its own languages and culture.Africa is said to have over 3,000 tribes. Equatorial Guinea is a tiny country with a big oil sector. Which is the richest country in the world 2020? This site uses Akismet to reduce spam. Regardless, while Africa is still struggling with a wide range of issues, there are some African countries that have managed better economic performances in recent decades than others. Egypt is the third richest country in Africa with a GDP of About 249.247 billion dollars. Tourism is one of the biggest revenue generating industries in South Africa. Switzerland It is the third richest country in Africa with a GDP per capita of $21,628. Mining, agriculture, manufacturing, and tourism all play large parts in the country’s economy. The prevailing favourable microeconomic environment that was witnessed from 2018-2019 was a huge driver in this growth. However, cost of living in Namibia remains relatively high. Petroleum exports account for 10% of … How Often Should You Use Your Credit Card to Keep it Active? Mauritius is a true success in spite of the odds being stacked against it at the time of its independence. The country is sparsely populated, with a population of around 2 million. Nigeria is currently the most highly populated country in Africa, with a population of more than 190 million inhabitants. The country has a population of over 40 million. GDP: $444.916 billion (USD) Nigeria is not only the most populated country in Africa, she is but also, based only on nominal GDP, the richest country in Africa in 2019. 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