Top 10 richest African countries between 2022 and 2027
Here we have a list of the Top 10 richest African countries between 2022 and 2027. Africa is growing. Even though some countries owing to their corrupt nature aren’t making any significant progress.
Africa is a continent that covers 6% of the Earth’s surface and 20% of the land’s surface. Its area is 30,415,873 km² with the islands, making it the third largest in the world if we count America as a single continent.
The International Monetary Fund (IMF) has updated its growth projections for the period 2022-2027. In Africa, the fund’s forecasts show a strong concentration of the continent’s wealth in fifteen countries.
The IMF’s growth projections for the world economy over the period 2022-2027 are based on Gross Domestic Product (GDP). Regarding the continental forecast, Africa’s GDP is expected to increase from $2,980.11 billion in 2022 to $4,288.08 billion in 2027, an increase of 43.89%. The fifteen most economically powerful countries are expected to post a GDP of $2,487.56 billion in 2022, or 83.47% of the combined GDP of the fifty-four countries on the continent. In 2027, this ratio should increase slightly to 84.49%. Countries endowed with natural resources are among those expected to post significant GDP growth during the period 2022-2025. Several factors can contribute to confirming or invalidating these forecasts, in particular the surge or fall in the price of hydrocarbons, inflation,
Based on IMF projections for the past five years, significant changes are expected in the ranking of the most economically powerful countries. Nigeria should maintain its rank as the leading African economic power (2022-2027), or even widen a gap over its closest pursuers, Egypt and South Africa. With more than 210 million inhabitants, Nigeria’s GDP should increase from 504.20 billion dollars to 945.34 billion, an increase of 87.49%. Thus, in 2029, Nigeria alone should weigh 22.05% of the continent’s GDP. This IMF projection corroborates that of the World Bank. Far behind, Egypt should consolidate its position as the second economic power of the continent with a GDP which should increase from 469,
South Africa, Africa’s third-largest economy and the continent’s most industrialized country, is expected to maintain its rank, with GDP expected to increase from $411.48 billion in 2022 to $490.57 billion in 2027, an increase of 19.22%. The economy of the rainbow country will grow much less quickly than that of Nigeria and Egypt, because of structural problems (electricity cuts, decline of the mining sector, corruption). These three powers are followed from afar by Algeria and Morocco. Algeria should see its GDP increase from 187.15 billion dollars in 2022 to 224.04 billion in 2027, an increase of 19.80%. As for Morocco, its GDP should grow (2022-2027) by 30.11%. Ethiopia’s economy is expected to continue to show solid growth over the next five years and climb to fifth place in 2027,th in 2022), Angola (6th in 2022) and Kenya (7th in 2022 and 8th in 2027).
Regarding the top 15 economic powers in 2027, at the level of West Africa in particular, Côte d’Ivoire, 11th in 2022 with an estimated GDP of 68.63 billion dollars, will outclass Ghana, 10th _in 2022. Accra is expected to register less growth over the period 2022-2027, with GDP increasing by 15.26%, from 76 billion dollars to 87.57 billion, while Ivorian GDP is expected to grow by 46.44 % to reach 100.49 billion dollars in 2027. This is also the case of the Democratic Republic of Congo, in Central Africa, with a GDP expected to experience a big jump, going from 63.90 billion dollars in 2022 to 100.81 billion in 2027, i.e. a growth of 57.76%, allowing the country to join the top 10 of African economic powers in 2027, just ahead of Côte d’Ivoire. However, these growth projections depend on a series of assumptions that may or may not come true for a country, depending on the reasons given above.
List of the top 10 richest African countries between 2022 and 2027
| Rank | Country | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|
| 1st | Nigeria | 504.20 | 574.27 | 651.34 | 737.97 | 835.82 | 945.34 |
| 2nd | Egypt | 469.09 | 471.36 | 510.85 | 558.07 | 608.77 | 663.99 |
| 3rd | South Africa | 411.48 | 422.35 | 438.57 | 455.36 | 472.61 | 490.57 |
| 4th | Algeria | 187.15 | 190.25 | 196.62 | 205.43 | 215.54 | 224.04 |
| 5th | Morocco | 142.87 | 150.59 | 158.72 | 167.41 | 176.31 | 185.89 |
| 6th | Angola | 124.79 | 135.56 | 142.20 | 149.08 | 156.46 | 164.41 |
| 7th | Kenya | 114.86 | 117.56 | 125.10 | 134.24 | 143.96 | 153.41 |
| 8th | Ethiopia | 111.18 | 126.18 | 140.05 | 156.81 | 175.40 | 192.09 |
| 9th | Tanzania | 76.58 | 84.93 | 93.31 | 101.55 | 110.86 | 121.31 |
| 10th | Ghana | 75.99 | 70.08 | 73 | 76.97 | 81.75 | 87.57 |
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