Top Countries in Africa for Lucrative Business in 2022 : Current School News

Top Countries in Africa for Lucrative Business in 2022

Filed in Education by on January 14, 2022 0 Comments

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– Top Countries in Africa –

Africa is one of the largest continents in the world in terms of landmass. But with 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.

Top Countries in Africa

Africa is the world’s second-largest and second-most-populous continent, after Asia in both cases.

At about 30.3 million km² including adjacent islands, it covers 6% of Earth’s total surface area and 20% of its land area.

With 1.3 billion people as of 2018, it accounts for about 16% of the world’s human population.

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The ranking of the 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.

We will look at the top richest African countries for business, their GDP and their foreign reserves.

Best Countries in Africa for Business

Africa has the reputation of a continent with fertile soils and vast natural resources.

Beyond rich resources, Africa is also home to some of the top-ranked countries according to the World Bank’s ease of doing business index.

Rank Country Name GDP Per Capita (International Dollar)
1 Equatorial Guinea $38,700
2 Seychelles $28,000
3 Mauritius $20,500
4 Gabon $19,300
5 Botswana $16,900
6 Algeria $15,000
7 Libya $14,200
8 South Africa $13,500
9 Egypt $12,100
10 Namibia $11,800
11 Tunisia 11,700
12 Swaziland $9,800
13 Morocco $8,400
14 Angola $6,800
15 Republic of the Congo $6,800
16 Cape Verde $6,700
17 Nigeria $5,900
18 Sudan 4,500
19 Ghana $4,400
20 Mauritania $4,400
21 Zambia $3,900
22 Côte d’Ivoire $3,600
23 Djibouti $3,400
24 Kenya $3,400
25 Cameroon $3,300
26 São Tomé and Príncipe $3,300
27 Lesotho $3,100
28 Tanzania $3,100
29 Senegal $2,600
30 Chad $2,600
31 Mali $2,300
32 Benin $2,200
33 Uganda $2,100
34 Rwanda $1,900
35 Ethiopia $1,900
36 Burkina Faso $1,800
37 South Sudan $1,700
38 Zimbabwe $1,700
39 The Gambia $1,700
40 Sierra Leone $1,700
41 Guinea-Bissau $1,600
42 Comoros $1,500
43 Togo $1,500
44 Madagascar $1,500
45 Guinea $1,300
46 Eritrea $1,300
47 Mozambique $1,200
48 Niger $1,100
49 Malawi $1,100
50 Liberia $900
51 Burundi $800
52 Democratic Republic of the Congo $800
53 Central African Republic $700
54 Somalia $400

Since 2010, the continent has witnessed enormous innovation, particularly within the digital technology space
Its huge number of highly educated population has made it an epicentre for transformative growth.
According to the World Economic Forum, Africa is home to 50% of the world’s fastest-growing economies.
As recently as 2018, countries like Ghana and Ethiopia recorded outstanding real GDP growth north of 8%, almost three times the world average.

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