Africa is considered to be the poorest continents but it holds many riches. The continent which is thought to be the cradle of the humanity is not giving up without fight but it is trying hard to catch up.
Immense possibilities lay in Africa and these countries are certainly using it. They are the steam engine of its economy and the greatest hopes of this continent.
Here is the list of top 10 richest countries in Africa.
Libya GDP (PPP) — 62 Billion Dollars
Libya is rich in one of the most resources today and it is the oil also known as the black oil. This represents the great asset for Libya and its people but recent turmoil’s had devastated the country’s economy reducing it by 12.01 billion dollars.
Tunisia (PPP) — 105 Billion Dollars
Due to implementation of new fiscal policies Tunisia’s GDP is constantly growing. The economy is based on agro-food, car parts, phosphates, oil, manufacturing and tourism. It includes so many diverse industries so we can see the certain success of Tunisia.
Ghana GDP (PPP) — 117 Billion Dollars
Ghana is one of the rising economies that have a lot of potential. There are huge golden mines and Ghana is the greatest producer of cocoa one of the most important commodities of the modern world. The bright future awaits Ghana.
Angola (PPP) — 130 Billion Dollars
Angola is rich in resources such as diamond, oils, natural gas and agriculture the latter one is only used and not to its full extent. The Civil war which lasted for 27 years left the economy in the bas state but since its end in 2002 the GDP is steadily growing.
Ethiopia GDP (PP) — 132 Billion Dollars
Ethiopia had gone through the process of privatization. The country’s economy is developing quickly especially in an agricultural sector where Ethiopia has a lot of chances to grow and export its products.
Morocco GDP (PPP) — 189 Billion Dollars
Morocco is a liberal economy which makes a catching place for the investors. The service sector accounts for the third percent while other industries include manufacturing and constructions. Telecommunication, tourism and textile industry are simply booming in Morocco.
Algeria GP (PPP) — 551 Billion Dollars
Algeria is extensive in many sectors such as agriculture, manufacturing, banking, fishing and tourism, in addition to these traditional sectors Algeria is also developing carbon-hydrate industry. These are big steps forward to Algeria and they fit in the shoes.
South Africa GDP (PPP) — 711 Billion Dollars
South Africa is one of the richest countries on the continent having large deposits of gold, diamonds and profiting from tourism and industry. It is a large country with lot of resources that can be used really well.
Egypt GDP (PPP) — 996 Billion Dollars
Egypt had been introducing new fiscal policies which helped them raise their GDP but as there was a conflict between the Army and Ex-President Morsi the country’s GDP is in decline. Egypt like throughout history has a strong agriculture, industry, water resources manufacturing and tourism. These factors represent Egypt’s chance to develop and grow.
Nigeria (PPP) — 1 Trillion Dollars
Nigeria is one of the biggest emerging economies and it is going to be in top 20 world’s economies by 2020. It has a strong mining, agricultural, oil drilling and exporting sectors. It is a mixed economy where most of population belongs to the middle class. This represents the push for the constant growth.