The continent has more than 100,000 millionaires with nearly two dozen billionaires.
With a population of more than a billion people, we’re letting you know just how rich Africa is!
As the second largest continent in the world, Africa has a booming economy with millions of visitors annually. In addition, the continent has more than 100,000 millionaires with nearly two dozen billionaires.
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From Morocco to Nigeria, we’ve got all that you need to know about the five wealthiest countries in Africa!
Coinage. Life, well spent. Presented by Geico. Africa is the second largest continent in the world, home to 1.2 billion people, over 150,000 of them millionaires, but only 21 are billionaires. Africa is one of the wealthy continents in the world in terms of natural resources with vast amounts of gold, diamonds, oil, timber and more. These are the richest nations in Africa. Morocco has Africa's fifth largest economy, with a GDP of nearly $170 billion. The biggest driver of Morocco's economy is agriculture. Morocco is also one of Africa's top tourist destinations, with over 10 million visitors annually. Algeria has a GDP of $272.5 billion The North African country has gained most of its wealth from its rich oil deposits. Egypt has a GDP of nearly $285 billion dollars. Egypt's main export include Cotton, Oil, and Petroleum. The country also thrives on its tourism and manufacturing industries. South Africa has a GDP of $341 billion, making it the second strongest economy in Africa. Mining, manufacturing, wholesale trade, and financial sectors all play a key role in contributing to South Africa's GDP. And leading the pack, Nigeria. Home to most of Africa's billionaires, Nigeria has the richest economy in Africa. The supersized economy has been growing for years. And although it has hit some rough patches, economists say the young nation will continue to thrive. [MUSIC] [SOUND] Coinage, life, well spent. Presented by Geico.