Egypt ranked as Africa’s richest country followed by Nigeria and then South Africa

Although we are headquartered in Washington D.C. USA, our reporters and editors are working around the globe to cover what you care about. Click here to become one of our members and help us keep our quality news free and available for all.

The ranking would surprise many people who often think South Africa and Nigeria are the richest countries in Africa. Wealth, it turns out, is not just about the amount of dollars you receive or have stashed in foreign reserves, it also has do with the Gross Domestic Product (GDP) and the Purchasing Power Parity (PPP).

This seems to make sense. What if one man has all the money and everyone else is hungry, broke, busted and depressed?

According to the International Monetary Fund‘s ranking of the African nations by Gross Domestic Product (GDP) at Purchasing Power Parity (PPP), Egypt is the richest country in Africa, followed by Nigeria and then South Africa.

The ranking does not take into account the GDP (PPP) of the dependent or integral territories of the United KingdomFranceItalySpainPortugalYemen and Malta within the African continent.

For the purpose of the data published by the International Monetary Fund, the GDP (PPP) Zanzibar is included as part of that of Tanzania, the GDP (PPP) of Western Sahara is included as part of that of Morocco, and the GDP (PPP) of Somaliland is included as part of that of Somalia, which will anger many many many people.

The full ranking can be found below.

Read full article

List

Region
Rank
CountryPeak value of GDP (PPP) as of 2019
Billions of International dollars
Peak Year
Africa6,906.2222018
1 Egypt1,391.7342019
2 Nigeria1,214.8272019
3 South Africa813.1002019
4 Algeria684.6492019
5 Morocco330.3812019
6 Ethiopia240.7052019
7 Ghana211.1272019
8 Angola203.7632019
9 Kenya190.9702019
10 Libya187.7962010
11 Tanzania186.0602019
12 Sudan177.6782018
13 Tunisia150.8342019
14 Côte d’Ivoire117.0302019
15 Uganda104.8932019
16 Cameroon101.1242019
17 Democratic Republic of the Congo77.4412019
18 Zambia76.5202019
19 Senegal47.3352018
20 Mali44.0282018
21 Madagascar42.7052018
22 Botswana41.5562018
23 Burkina Faso38.7942018
24 Mozambique38.6792018
25 Gabon38.5822018
26 Equatorial Guinea37.6892012
27 Zimbabwe35.5652018
28 South Sudan35.2542011
29 Chad30.5632015
30 Republic of the Congo29.7492018
31 Mauritius29.1872018
32 Guinea28.6372018
33 Benin27.4712018
34 Namibia27.4442018
35 Rwanda26.9972018
36 Malawi23.6822018
37 Niger23.4752018
38 Somalia19.5682018
39 Mauritania18.1192018
40 Togo13.8862018
41 Sierra Leone12.6192014
42 Eswatini (Swaziland)11.4962018
43 Eritrea9.9972018
44 Burundi8.1842018
45 Lesotho7.2312018
46 Liberia6.4402018
47 Central African Republic4.2932012
48 Cape Verde3.9832018
49 Djibouti3.9642018
50 Gambia3.8842018
51 Guinea-Bissau3.3852018
52 Seychelles2.8732018
53 Comoros1.3842018
54 São Tomé and Príncipe0.7262018
Simon Ateba
Simon Ateba
Based in Washington, District of Columbia, United States of America, Simon leads a brilliant team of reporters, freelance journalists, analysts, researchers and contributors from around the world to run TODAY NEWS AFRICA as editor-in-chief. Simon Ateba's journalistic experience spans over 10 years and covers many beats, including business and investment, information technology, politics, diplomacy, human rights, science reporting and much more. Write him: [email protected]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

MOST POPULAR

239 scientists from over 30 countries urge WHO to tell the world about airborne spread of coronavirus

At least 239 scientists from over 30 countries are urging the World Health Organization to address the airborne transmission of COVID-19, a...

SEE IT: Certified true copy of the conviction of Nigeria’s House of Representatives Speaker Femi Gbajabiamila in the United States for $25,000 theft

The Speaker of the Nigerian House of Representatives Femi Gbajabiamila was convicted in the state of Georgia in the United States...

WHO warns access to HIV medicines severely impacted by COVID-19 as AIDS response stalls

Seventy-three countries have warned that they are at risk of stock-outs of antiretroviral (ARV) medicines as a result of the COVID-19...

Nigeria’s anti-corruption czar Ibrahim Magu who was arrested for financial fraud on Monday expected to be arraigned in court and removed from office after night in police custody

Nigeria's anti-corruption czar Ibrahim Magu who was arrested for alleged financial fraud on Monday is expected to be arraigned in...

Coronavirus update: Zambia, Ivory Coast and Malawi

Coronavirus numbers keep changing in Africa where more than 6200 people have now died and more than 233000 have contracted the...
- Advertisement -

LATEST STORIES

Ivory Coast’s Prime Minister and presidential candidate for ruling party Amadou Gon Coulibaly dies after ministerial meeting

Ivory Coast's Prime Minister and presidential candidate for the ruling party Amadou Gon Coulibaly has died after falling ill at a...

South African President heartbroken as COVID-19 kills Her Majesty Queen Noloyiso Sandile of the AmaRharhabe Kingdom

President Cyril Ramaphosa has expressed his profound sadness at the passing of Her Majesty Queen Noloyiso Sandile, Regent of the Royal...

Harvard University and MIT sue Trump admin over order to deport all foreign students, including tens of thousands of Africans, taking classes online amid COVID-19

Harvard University and Massachusetts Institute of Technology on Wednesday asked a federal court to temporarily block an order by the Trump...

Africa records over 500 000 COVID-19 cases

COVID-19 infections in Africa today surpassed 500 000, and there is concern as a growing number of countries are experiencing a sharp...

Residents describe mass executions as graves with over 180 bodies are found in Burkina Faso

Common graves containing at least 180 bodies have been found in a northern town in Burkina Faso in recent months, and available evidence...

[/read_more]

Read full article

error: Alert: Content is protected !!
Share
Tweet
Share
Pin
WhatsApp