Hearing about Africa, many people think about
the numerous peoples and tribes most of
which live in extreme poverty. Nevertheless,
there are many countries on the continent that
enjoy prosperity and have thriving economy.
This is not surprising because Africa provides many opportunities for high economic
indicators. This is greatly facilitated by a
favorable climate, abundant natural
resources, and raw materials. From this
article, you will find out which country is the
richest in Africa.
10. SWAZILAND
kING: Mswati III
FLAG: 
This state is the smallest on the African continent. The
majority of the adult population is employed in
agriculture, which is considered the main source of
income. People are actively engaged in cultivation of
cotton, sugar cane, tobacco, rice, corn, pineapples,
and other crops. Animal husbandry is also well developed. Most of GDP (45%) falls on the industrial sector:
mining of coal, iron ore, production of sugar, timber,
and textile. Economically, Swaziland is heavily
dependent on South Africa, which is its main trading
partner - 80% of imports and more than 60% of
exported goods.
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9. TUNISIA
PRESIDENT: Beji Caid Essebsi
FLAG:
Tunisia is the ninth richest country in Africa. It’s
washed by the Mediterranean Sea. The basis of the
local economy is agriculture. About 50 million olive
trees grow here. Therefore, one of the main sources
of income is the export of olives and olive oil. Tunisia
confidently takes the 4th place in this sphere. In total, the country produces up to 10% of the world's stock
of olive oil. Another lucrative area is growing of date
fruits which Tunisians love to eat themselves. The
state is on the 9th place in the world on the supply of
dates. One more lucrative area is a well-developed tourism
industry: a warm and comfortable climate, proximity
to the Mediterranean, magnificent white sandy
beaches, European service and world-famous
thalassotherapy centers. All these factors combined
with a rich history of the state attract hundreds of thousands of tourists to Tunisia.
8. Namibia
PRESIDENT: Hage Geingob
FLAG: 
The country is located on the territory of South Africa.
Almost half of the able-bodied population is
employed in agriculture. However, most of the
revenues to the budget come from the mining, sale of
diamonds and uranium. Namibia is the largest
exporter of these resources in the world market. In the bowels of the earth, there are also large deposits
of gold, silver, copper, tin, zinc, and lead. Recently,
fishing and tourism have started to develop actively. Although the state is among the rich African
countries, there is rather high unemployment - over
30%. Salaries of workers are relatively low.
7. Egypt
PRESIDENT: Abdel Fattah el-Sisi
FLAG:
Egypt is surrounded by the Mediterranean Sea in the
north and by the Red Sea in the east. The two seas
are connected by the Suez Canal. The collection of
fees from foreign ships passing the Suez Canal is the
main source of state revenue. This measure brings
more than one billion dollars to the treasury annually. Other weighty sources of replenishment of the
budget are oil and a developed system of tourism
which is contributed by hot climate, the proximity of
the two seas and the rich history. Agriculture continues to play a significant role in the
life of the country, but its share in exports fell to
15.4%. Nevertheless, some problems are particularly acute
for Egypt. The general impoverishment of the state
continues. The threat of hunger is very actual. The
unemployment rate is high - more than 19%.
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6. South Africa
PRESIDENT: Cyril Ramaphosa
FLAG: 
South Africa has quite strong world positions. It is on
the list of twenty countries with the most developed
economy (G20), has an impressive reserve of natural
resources. Production of diamonds, platinum, gold
exports is widespread, as well as engineering,
manufacturing of equipment and chemical products. Despite the arid climate, agriculture and fishing
develop actively, wine-making flourishes. All these
factors contribute to the growth of the state
economy. According to estimates of specialists, GDP
per person in South Africa is 10 thousand dollars. The
standard of living is quite high. But the difference between the richest and the poorest parts of the
population is still enormous.
5. LIBYA
PRESIDENT: Mohammed Magariaf
FLAG 
Libya is a country in North Africa, the fourth largest
African state. About 90% of its territory is occupied
by deserts. Previously it was the Italian colony. In the
middle of the last century, Libya gained
independence. Thanks to oil production that began in
the 1960s, the beggar country quickly turned into a prosperous state. Huge oil reserves are still the main
local wealth. Unfortunately, the war that lasted for several years
made great negative changes to the life and
economy of Libya. Oil production and exports fell
several times. The lack of cash led to unprecedented
inflation. In the conditions of political instability and
shock, the import of goods into the country practically ceased. The prices for essential products jumped to
incredible heights.
4. ALGERIA
PRESIDENT: Abdelaziz Bouteflika
FLAG: 
Algeria is the largest state on the continent located in
North Africa and close to the Mediterranean Sea. Until
the 60s, the country was considered a French colony.
After gaining independence from France in 1964,
Algeria's economy began to develop at a rapid pace. Now the state is in the lead in the production of
natural gas and holds the 4th place in the world for its
exports. Algeria has an impressive oil reserve, ranks
the 15th in the world and 11th in terms of oil exports.
Sales of oil and gas jointly bring the country 30% of
GDP and more than 60% of budget revenues. Despite impressive achievements, many able-bodied
citizens of Algeria do not have a specialized
education. Unemployment is quite high. There is a
sharp shortage of professional staff at many
enterprises.
3. BOTSWANA
PRESIDENT: Ian Khama
FLAG: 
The climatic conditions in Botswana can't be called
favorable. This country has no access to the sea.
More than 70% of its territory is occupied by the large
Kalahari Desert which dictates its strict laws. Despite the disadvantageous location, the state is rich
in minerals. It produces gold, oil, copper, nickel, zinc,
lead, coal, chrome, sulfur, platinum, and silver. The
country firmly holds the leading position in the
extraction of diamonds which are famous for their
highest quality and are often used for making jewelry.
2. GABON
PRESIDENT: Ali Bongo Ondimba
FLAG: 
The second richest country in Africa is Gabon. Until
1960, it was considered a colony of France. The
combination of a low population (1.8 million people),
an impressive supply of high-quality wood, oil,
uranium and manganese ore made Gabon one of the
most prosperous states on the continent. The local standard of living is much higher than in most African
countries. However, speaking about the welfare of Gabon, we
should note the huge difference between the major
cities and small villages located in the deep African
jungle where life hardly changed over the centuries.
80% of the citizens are urban residents.
1. EQUATORIAL GUINEA
PRESIDENT: Teodoro Obiang Nguema Mbasogo
FLAG: 
Equatorial Guinea is the richest African country. This
tiny state is situated in the central part of the
continent, very close to the equator. The budget is
replenished by a large oil reserve. The good
geographic location of the state also maintains the
best economy in Africa. There is a direct access to the Atlantic Ocean. Oil is delivered to Europe and America
from there. Due to the export of oil, Equatorial Guinea
has a high GDP rate by which it has bypassed many
European countries. Other sources of income are the cultivation of coffee
and cocoa beans, the export of sawn timber. The
fishing system is very developed. Now you know what the best country in Africa is in
terms of economy. We hope that it was interesting to
read this article.
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