Despite the continent being plagued with corruption, and low economic value financially analyst reckons growth indicators that can work for African countries.
Here are 10 countries in 2020 that are using available resources to yield progress and grow their nation’s wealth irrespective of population.
Popular for its tourism destination and cool islands. Seychelles economy has developed a considerable growth within the last decade. With her population standing at 95,843, the island country as the 50th highest GDP in Africa
Having its top money earner from sugarcane planted on 90% of the country’s arable land. Mauritius is one of the most promising countries in Africa. Standing has the 27th highest GDP in Africa, with 12.43 billion USD.
The presence of infrastructure and boastful standard of living of Algeria populations reflects how good the economy stands. The country is on record to have achieved the remarkable feat of reducing poverty in the country by 20% within the last 20 years. Algeria is the 4th highest GDP in Africa, with 170.41 billion USD
Tunisia has turned around to be one of Africa’s growing and stable economies. With histories of conflict that had stunt human and socio-economic development. Tourism, agriculture, and electrical/mechanical exportation are the countries stronghold. They are 14th highest GDP in Africa with 75.9 billion USD
Once on record to be the poorest country on the continent. Botswana has grown greatly to become a model to others in Africa. It has maintained an average of 5% growth per annum over the last decade. The country’s economy is the 20th highest GDP in Africa and a GDP of 67.6 billion USD
Emerged in the top 30 countries of the World Bank’s Doing Business Report in 2019 for the first time with a remarkable score of 77.88. This effort could be associated with Government reforms and leadership to boast capital development and culture since the 1994 genocide.
With a GDP of 9.14 billion USD, they rank 33rd highest in Africa
Fun fact: Gabon is home to 80% of Africa’s Gorilla population. The country is the 50th largest oil producer in Africa and boasts of one of the highest urbanization rates on the African continent. Gabon is the 23rd highest GDP in Africa with 14.62 billion USD
With its respected significance on the continent, South Africa boasts of a highly developed economy and advanced infrastructure. They ranked 2nd highest GDP in Africa with 349.4 billion USD. SA is one of the world’s largest exporters of gold and platinum.
Export of goods and services, improvements in foreign exchange reserves and a more dynamic tourism sector have contributed significantly to the development in Egypt. Currently, the 3rd highest GDP in Africa with 235.4 billion USD
The Kingdom of Morocco has a versatile economy and has benefitted from various industries over the last decade. Fun fact: Morocco Has Nine UNESCO World Heritage Sites
The country is the 6th highest GDP in Africa, with 109.1 billion USD
Note: In actual sense, higher GDP should equate to greater human progress, but GDP does not even capture this traditional economic value very well. Reasons some wealthy countries didn’t make the list.