Africa's Top Companies - African Business (2022)

Africa's Top Companies - African Business (1)

Africa’s Top 250 Companies in 2022

For over 16 years African Business magazine has been running its ranking of Africa’s Top 250 Companies, taking the top listed companies from national and regional stock exchanges across Africa. See who’s moved up and down the rankings in our 2022 survey, as well as who features from your country and how they fare against their peers elsewhere.

The lions that dominate Africa’s business landscape are flourishing where driven by excellent strategy, top management and well-placed investing. Dynamic businesses in our annual ranking of Africa’s Top 250 Companies – the premier annual survey of the health of African businesses – are showing formidable growth and the promise that this is only the beginning.

It is not that the environment has been favourable, as businesses have been buffeted by a succession of global shocks. The pandemic brought lockdowns, supply-chain disruption, loss of tourism and huge volatility in commodity prices, and much of the continent is not in the clear yet.

As African economies were hoping to accelerate post-Covid recoveries, global central banks including the US Federal Reserveand the UK’s Bank of England tackled inflation by hiking interest rates. In previous cycles, global investors tended to abandon emerging market currencies and rush into dollars.

A move away from emerging currencies would impact the South African rand, which is the most liquid emerging market currency.

Increasing global interest rates and depreciating local currencies increase the debt burden for deeply indebted African governments and make it harder to reissue new debts when existing bonds expire.

How will rising commmodity prices affect Africa?

Russia’s invasion of Ukraine and resulting Western sanctions are also pushing up global prices for oil and gas. This is good news for exporters such as Nigeria – where growth prospects were recently revised upwards – and Angola. But countries in Africa dependent on fuel imports are likely to be badly affected.

(Video) Africa's manufacturing sector in 2021 [Business Africa]

Food is another looming crisis exacerbated by the conflict. Food commodity prices had already climbed a record 23% in 2021, with forecasts for 2022 starting at an additional 22% hike and potentially spiralling higher.

Russia and Ukraine are major global producers and exporters of wheat, sunflower oil and other foods. The war and port blockades hinder production and block exports from Ukraine. Russia also halted exports of wheat and some other cereals to protect domestic supply, and sanctions will affect trade.

As urban populations soar in the rest of the continent, demand for wheat is also growing. According to the African Development Bank (AfDB), Africa’s trade with Ukraine was $4.5bn a year, of which half was wheat, and its trade with Russia was $4bn, of which 90% was wheat. Nearly all East Africa’s imported wheat comes from the warring countries.

Food prices are often linked to political unrest. Even though there were many more significant underlying factors, the Arab Spring followed major spikes in the FAO Food Price Index in 2010-11. Food prices are major contributors to growing inflation. Higher food prices will also depress local consumer demand.

Although global rice production is not directly affected, food production – including in many African countries – will also be severely hit by shortages of key fertiliser inputs. War sanctions have affected potash production and exports from Russia and its ally Belarus, and Russia is a key supplier of nitrogen and natural gas used to manufacture fertiliser.

The war and rising inflation may delay the longed-for recovery in tourism, a major contributor to African economies from Mauritius and Kenya to Tunisia and Morocco. Other European demand may be affected, including fruit, flowers and vegetables grown in East Africa.

Furthermore, Africa is among the regions worst affected by the global climate crisis, facing severe storms, floods and drought, and damage to farming and food production. Even if the world succeeds in limiting global warming to 1.5 degrees Celsius, Africa’s GDP will be diminished. Warmer temperatures will have significantly worse effects.

Opportunities amid the gloom

Yet dynamic African businesses will still find great opportunities. There is likely to be renewed interest in African producers of oil and gas, as well as exports of solar energy and hydrogen. Natural gas production in Africa is set to double from 1.3m barrels of oil equivalent per day in 2021 to 2.7m in 2030 as massive new deep-water gas resources come on-stream in Mozambique, South Africa, Senegal, Mauritania and Tanzania.

Some 420bn cubic metres of gas are to come online in the next three decades, including ocean shelf and land-based reserves, while liquefied natural gas (LNG) production is set to recover in Nigeria, Angola, Ghana and Mozambique.

Investors are also stepping up the flow of funds into renewable and clean energies, where Africa has significant geographic advantages over other continents. This includes solar, geothermal and the production and export of hydrogen.

African businesses can seize giant opportunities to improve the productivity of farming and boost the continent’s contribution to domestic and global food production.

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In recent decades, Middle Eastern countries and Egypt have turned to Sudan, Ethiopia and other countries for their food supplies. More African companies could make the running and grow and produce food for local and international markets to fill the global supply gap.

In March, the AfDB announced plans to raise $1bn to invest in food production. According to AfDB President Akinwumi Adesina: “If there was ever a time that we needed to drastically raise food production in Africa, for Africa’s food security, and to mitigate the impact of this food crisis arising from this war, it is now.”

According to the World Economic Outlook, published by the International Monetary Fund on 19 April 2022, growth for sub-Saharan Africa is estimated at 4.5% for 2021 and forecast at 3.8% in 2022 and 4% in 2022.

The IMF’s predicted star economies for forecast GDP growth over 2022-27 include: Benin, Democratic Republic of the Congo, Côte d’Ivoire, Djibouti, Egypt, Ethiopia (although civil war is slowing growth this year), The Gambia, Kenya, Mozambique, Rwanda, Senegal, Tanzania and Uganda.

However, Africa’s overall growth lags emerging and developing Asia, where growth is estimated at 6.8% in 2021 and projected at 5.4% and 5.6% in 2022 and 2023, driven by China and India.

North Africa

West Africa

Southern Africa

East Africa

Africa’s lions

Every year, the African Business Top 250 Companies charts the rise of innovative, strategic and resilient African businesses that straddle the continent, make huge profits and invest billions into Africa-wide strategies to seize future opportunities.

Telecommunications firm MTN Group soars from #13 to #4 on this year’s ranking after more than doubling its market capitalisation to $24.5bn, up from $11.1bn in 2021.

The company has raised cash by listing its operations in Nigeria, Ghana, Uganda, Rwanda and other countries, also boosting the development of local capital markets. It has ploughed the cash into new networks, infrastructure and data centres. MTN Nigeria is at #18 on the ranking (up from #23), Scancom (MTN Ghana) is #76 and MTN Uganda is a new entry at #105.

(Video) 2022 $3000 Businesses to start in Africa | business opportunities in Africa

Other leading South African businesses spanning the continent include Firstrand (#3), Standard Bank Group (#5), Vodacom (#6), Absa (#16) and Sanlam (#17). Fast-growing giants in other countries include Dangote Cement headquartered in Nigeria (#15) with production capacity of 48.6m tonnes across 10 countries in sub-Saharan Africa.

Sugar Refinery is down from #157 to #185. Morocco’s Attijariwafa Bank (#19) is building a strong group across 14 West and North African countries, including Société Ivoirienne de Banque (a new entry at #213) and CBAO Sénégal.

Market value drives the ranking

The total market capitalisation of the 250 companies on the list is down to $701.4bn, a little lower than $710.2bn in the 2021 survey and far below the $887.1bn recorded in 2018 and the highest level of $948.3bn achieved in 2015. The total market capitalisation, as in most years, is heavily affected by changes at the top of the list.

Changes in methodology mean that the survey focuses ever more heavily on Africa-focused companies which derive at least half their revenues on the continent, and which are accessible to African investors because they are listed on an African stock exchange. The years to 2021 saw nearly $243bn of market cap lopped off by tightening the criteria for companies.

In the current year we have removed African-originating companies which derive less than 50% of their revenues from the continent. The biggest casualty is last year’s #2 ranked global mining giant Anglo American, which had a market capitalisation of $53.2bn in March 2021, although its South African subsidiary Anglo American Platinum still makes the cut.

Others removed include miner South32, Mediclinic International and Steinhoff International, accounting for a combined $14bn in market capitalisation.

Naspers (ranked #1), which first emerged as an Afrikaans media conglomerate, is a global internet giant with its primary listing on the JSE. Since last year’s ranking, the market capitalisation of Naspers is down from $104.2bn to $49.6bn.

The share price has fallen partly because investors are worried about China’s crackdown on tech firms including Tencent, in which Naspers took a huge stake in 2001 and which propelled Naspers to become a global giant.

However, viewed another way, the precipitous fall at Naspers and the removal of Anglo American means the market capitalisation of the rest of the companies in the survey grew by a massive $112bn.

The market capitalisation of the median company, South Africa’s KAP Industrial Holdings (#125), was $848m on 31 March, up 15.7% over last year’s #125 (Tanzania Cigarette Co.), which had market capitalisation of $733m. The market capitalisation threshold to be featured at #250 on the top ranking was $286m this year, up 10.4% compared to $259m last year.

Continued market distortions in Zimbabwe also affect the ranking. Local investors worried about inflation, potential devaluations and cash shortages poured money into the Zimbabwe Stock Exchange, where share prices and the indices continued to soar. For the Top 250 Companies rankings, local share prices are converted at the official rate on the RTGS dollar (ZWL), which still remains at about ZWL$362 to the dollar.

The Zimbabwe Stock Exchange All Share Index climbed more than threefold over the 12 months since last year’s ranking, when Zimbabwean stocks were already distorting the market capitalisation figures. Figures by research house African Markets show the ZSE All Share Index is up 4,645% over two years to 14 April 2022.

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Finance is king

Finance firms and banks tightened their dominance of the stock markets, making up 90 of the Top 250 Companies, with total market capitalisation of $227bn, or 32% of the total, up from $168.8bn in 2021 (24% of the total).

The survey has simplified the number of sectors, consolidating metals and mining into “non-energy materials” (ie excluding oil and gas). This sector contributes 38 companies and 25% of the total market capitalisation to the ranking.

The sector includes #2 ranked Anglo American Platinum, Sasol (up from #18 to #8), Kumba Iron Ore (#9), Gold Fields (#10) and Impala Platinum Holdings (#11). If more African miners added local listings to their Canadian or other international listings, the sector would grow.

Consumer non-cyclicals made up 17% of the total market capitalisation across 55 companies. It is heavily dominated by Naspers which made up $49.6bn of the total $119.1bn and contributed to the relative decline. Other companies include Shoprite (#21), Africa’s largest fast-moving consumer goods retailer with 2,400 shops and subsidiaries in 14 countries.

Billions of dollars and other currencies are being poured into building telecommunications infrastructure including data centres and fibre cables and the wider sector continues to pour out profits to investors and grow in importance. There are 17 telecommunications companies in the ranking, contributing $104.1bn or nearly 15% of the total, up from $89bn last year (12.5%).

© Data provided by Emerging Markets Investment Management Limited and also in-house research. Data as at 31/03/2022. Data relates to listed companies only. Listed companies with less than 50% of their revenues in Africa and companies that are not listed or dual-listed on an African exchange were excluded.

Methodology – who we include in the ranking and why

The African Business Top 250 Companies survey focuses on the biggest companies that are listed on an African stock exchange, with the ranking determined by the market capitalisation (total value of the listed shares) at 31 March 2022. The market capitalisation is converted into US dollars on the same date.

Some of the African giants who are not in the Top 250 Companies are government-owned companies, including state-owned enterprises Commercial Bank of Ethiopia and Sonangol in Angola. Last year Egypt and Namibia led the way with privatisations which raised funds. Namibia’s Mobile Telecommunications Ltd (locally better known as MTC Namibia) joined the ranking at #204 with $411m of market capitalisation after the government sold 49% of its shares and listed the company on the Namibian Stock Exchange in November 2021.

The Top 250 Companies survey excludes companies which have African heritage and roots but no longer earn at least 50% of their revenues in Africa. The biggest example is Prosus, Europe’s largest listed consumer internet company, which became an independent entity from its parent, South Africa’s Naspers. It listed on Euronext Amsterdam and the JSE in September 2019. Miner Anglo American, previously #2, was removed this year. South32 and Mediclinic International were also taken off the listing.

Companies with more than 50% of their revenues from Africa are excluded if they are not listed on an African stock exchange. The biggest of these is Shenzhen Transsion Holding Co, listed in Shanghai, which makes mobile phones under the TECNO, itel, and Infinix brands, as well as smart accessories and home appliances, and provides mobile internet services. It operates in Nigeria, Kenya, Tanzania, Ethiopia and Egypt as well as internationally, with total market capitalisation of $12.1bn (down from $25.6bn a year earlier). If Transsion had an African listing, it would be #12 on the ranking – and potentially higher as its share price may not have been so badly affected by adverse global investor sentiment towards Chinese tech companies.

(Video) Brand Africa names best African companies

Mega mining companies are also excluded such as Canada’s Ivanhoe Mines (with market capitalisation of $11.3bn) and Endeavour Mining ($6.2bn). Ivanhoe’s flagship Kamoa-Kakula project in Democratic Republic of Congo could become the world’s biggest copper mine and it also has zinc and platinum projects. Endeavour is a gold miner in Senegal, Côte d’Ivoire and Burkina Faso. In contrast, B2Gold is ranked (#38) because it is listed on the Namibian Stock Exchange in line with Namibian government policy to make locally active miners available to local investors.

The ranking also excludes real estate investment trusts (REITs) and other real estate investment and finance companies. However, if the company develops properties, then it could remain in the ranking, such as Travaux Généraux de Construction de Casablanca.


What are the most profitable business in Africa? ›

5 Most Profitable Business Ideas In Africa
  • Waste Management. Many deadly bacteria and viruses that have been eliminated from the rest of the world are still wreaking havoc in African continent. ...
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15 Sept 2022

What is the fastest growing business in Africa? ›

Agriculture, telecommunication, banking, infrastructure, and oil & gas are some of the most rapidly growing sectors. Although Africa's growth prospects are impressive, they differ from country to country and sector to sector.

Who is No 1 richest in Africa? ›

Aliko Dangote

What are the 5 most profitable businesses? ›

Most Profitable Business Ideas
  1. Business Consulting. If you're an expert in your industry and have been working at it for years, you should consider consulting. ...
  2. IT Support, Technology Consulting, and Repair. ...
  3. Cleaning Services. ...
  4. Accounting and Tax Preparation. ...
  5. Auto Repair. ...
  6. Real Estate.

Which business is best to get rich? ›

  • Financial Services.
  • Eldercare.
  • Business Consultancy.
  • Investment Firm.
  • Education and Training Service.
  • Insurtech.
  • Cleaning Business.
  • Healthcare Consultancy.
11 May 2022

What can I sell in Africa to make money? ›

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20 Jan 2022

What's a good business to start in Africa? ›

5 Most Profitable Business Ideas In Africa
  • Waste Management. Many deadly bacteria and viruses that have been eliminated from the rest of the world are still wreaking havoc in African continent. ...
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  • Retail Business. ...
  • Affordable Housing. ...
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15 Sept 2022

What are the 5 fastest growing economies in Africa? ›

Real GDP Growth Rates in Africa
RankCountryGDP growth rate (%)
3Ivory Coast7.6
50 more rows

Which small business is best in Africa? ›

Here are the best small business entrepreneurs want to start in Africa.
  • Nigeria - Point of sale (POS)
  • Ghana - Real Estate.
  • Kenya - M-Pesa.
  • Tanzania - Clothing.
  • Uganda - Wholesale.
  • Ethiopia - Real Estate.
  • Zimbabwe - Recycling.
  • South Africa - Cooking Gas Refill.
16 Jul 2022

Who is Africa's top 10 richest? ›

  • Aliko Dangote. $13.9 B. Manufacturing.
  • Johann Rupert & family. $11 B. Fashion & Retail.
  • Nicky Oppenheimer & family. $8.7 B. Metals & Mining.
  • Nassef Sawiris. $8.6 B. Construction & Engineering.
  • Abdulsamad Rabiu. $7 B. Diversified.
  • Mike Adenuga. $6.7 B. Diversified.
  • Issad Rebrab & family. $5.1 B. Food & Beverage.
  • Naguib Sawiris. $3.4 B.
24 Jan 2022

Who is the No 1 company in world? ›

This list comprises the world's largest companies by consolidated revenue, according to the Fortune Global 500 2022 rankings. American retail corporation Walmart has been the world's largest company by revenue since 2014.

Who is the youngest richest man in Africa? ›

Dewji served as Member of the Tanzanian Parliament for Chama Cha Mapinduzi (CCM) from 2005 to 2015 for his home town of Singida. As of October 2022, Dewji has an estimated net worth of US$1.5 billion, Africa's 17th richest person and youngest billionaire.

Who is the trillionaire in Africa? ›

As of 2021, Nigerian billionaire Aliko Dangote is the richest person in Africa, and the African countries with the most billionaires are Egypt (5), South Africa (5), Nigeria (3), and Morocco (2).

Who is the richest woman in Africa? ›

Folorunsho Alakija is ranked by Forbes as the richest woman in Nigeria with an estimated net worth of $1 billion as of 2020.
Folorunso Alakija
7 more rows

Which country is rich in Africa? ›

Wealthiest countries in Africa 2021. South Africa concentrated the largest amount of private wealth in Africa as of 2021, some 651 billion U.S. dollars. Egypt, Nigeria, Morocco, and Kenya followed, establishing the five wealthier markets in the continent.

Who is the richest black family in the world? ›

Aliko Dangote

Aliko Dangote is the richest black billionaire, with a net worth of $14 billion (11.5 in 2021). He is the founder of Dangote cement company, where he controls approximately 88% of the shares. Dangote has also amassed wealth from other investments in salt and sugar manufacturing companies.

Who is the richest in Africa 2022? ›

The wealthiest man on the continent in 2022 is Aliko Dangote. He has a net worth of $11.6 billion.

What businesses make money fast? ›

6 Businesses That Make Money Right Away (In 1-3 Months or Less)
  • Freelance or Consulting.
  • Online Coaching.
  • Online Clothing Consignment.
  • Create Online Courses.
  • Start an Online Store (Ecommerce)
  • Starting a Saas Product or App (Beta)
24 Aug 2022

What businesses grow fast? ›

Fastest Growing Industries to Start a Business
  • Travel & Hospitality – 201% aggregate growth rate.
  • Media – 198%
  • Energy – 174%
  • Security – 171%
  • Real Estate – 168%
14 Feb 2022

What businesses are in highest demand? ›

40 in-demand business ideas for you to be your own boss in 2022
  • Business Ideas in the Food Industry.
  • Business Ideas in Arts and Crafts.
  • Business Ideas in Fashion.
  • Business Ideas in the Beauty Industry.
  • Business Ideas in Education.
  • Business Ideas in Sports.
  • Business ideas in the events industry.
1 Feb 2022

What businesses make millions? ›

What entrepreneur businesses make the most money
  1. Business Consulting: ...
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  3. Courier Services: ...
  4. Personal Chef: ...
  5. Tutoring, both face to face and online: ...
  6. Property Management: ...
  7. Technology Consulting and Repair. ...
  8. Marketing Services:

Which business will grow in next 5 years? ›

20+ Future Business in India for 2025
  • 1) Outsourcing business. ...
  • 2) Internet of things (IoT) industry. ...
  • 3) Rise of co-working space. ...
  • 4) 3D printing. ...
  • 5) Consumer goods and services business. ...
  • 6) Business in real estate. ...
  • 7) Healthcare industry. ...
  • 8) Consultancy business.
1 Oct 2022

How can I make R5000 a day online? ›

Sponsored posts are a great way to make money online as they allow you to partner with brands who are looking to reach your audience. By writing quality content, you could easily make R5000 a day online for one sponsored post!

What items sell the fastest? ›

The 20 Best Things to Sell for Quick Money Right Now
  1. Jewelry and watches. ...
  2. Video game consoles. ...
  3. Old phones and accessories. ...
  4. Purses, wallets, and backpacks. ...
  5. Yard equipment. ...
  6. Jeans, workwear, and designer clothing. ...
  7. Furniture. ...
  8. Baby gear.

Which African country is easy for business? ›

South Africa

South Africa is by far the most industrialized economy and one of the easiest countries to do business in Africa with its advanced legal and financial structures.

What businesses are needed in Africa? ›

10 Business Opportunities in Africa That Will Create More Millionaires in 2022
  • Media and Entertainment. ...
  • Food & Agribusiness. ...
  • Retail. ...
  • Fashion & Beauty. ...
  • Real Estate. ...
  • Internet & Tech. ...
  • The Green Revolution. ...
  • Building and Construction Supplies.

What business is most successful to start? ›

The Most Profitable Business by Sector:
  • Accounting = 18.4%
  • Lessors of Real Estate = 17.9%
  • Legal Services = 17.4%
  • Management of Companies = 16%
  • Activities Related to Real Estate = 14.9%
  • Office of Dentists = 14.8%
  • Offices of Real Estate Agents = 14.3%
  • Non-Metalic Mineral and Mining = 13.2%
23 Mar 2022

Which African country is the best to live in? ›

1. South Africa: At 136.02, South Africa has the highest quality of life index score in Africa. The country's purchasing power index currently stands at 78.36. It has a healthcare index score of 63.97 and a cost of living index score of 42.09.

What is the safest African country? ›

According to the current GPI ranking, Mauritius is the safest country in Africa and the 28th safest country in the world. Mauritius is a cosmopolitan tourist paradise with beaches and lagoons, coral diving, water activities, the “Seven Colored Earth” of Chamarel and beautiful forests full of wildlife.

Which African country is most developed? ›

For instance, Mauritius, Africa's most developed country, was ranked 66 out of 189 countries. Mauritius: This island country has an HDI ranking of 0.804. . Seychelles: This is yet another island African country with a high HDI ranking of 0.. 796.

Which business is best and cheap? ›

If you want to start a low-cost business, these 25 ideas will help inspire your entrepreneurial passion.
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  6. Social media consultant. ...
  7. Etsy shop. ...
  8. Online courses and tutoring.

Which African country is very good for business? ›

Best African countries to start a business
CountryRegional ranking
37 more rows
4 Jul 2022

What are the 3 richest companies in the world? ›

RankCompanyAssets ($ Bil.)
1Berkshire Hathaway959
3Saudi Aramco576
4JPMorgan Chase3,955
7 more rows
13 Sept 2022

What are the 7 biggest companies in the world? ›

This can lower or even outweigh potential returns.
  • #1 Walmart Inc. (WMT)
  • #2 China Petroleum & Chemical Corp. (SNP)
  • #3 Inc. (AMZN)
  • #4 PetroChina Co. Ltd. (PTR)
  • #5 Apple Inc. (AAPL)
  • #6 CVS Health Corp. (CVS)
  • #7 Royal Dutch Shell PLC (RDS. A)
  • #8 Berkshire Hathaway Inc. (BRK. A)

Who is the richest company in the world 2022? ›

Top 12 Richest Companies In The World By Market Cap 2022. 1. Apple Inc. (AAPL) Market Cap – $2.65 Trillion: Apple develops, produces, and sells a wide variety of consumer technology products, including smartphones, laptops, tablets, wearable electronics, home entertainment gear, and more.

Who is the richest girl in world? ›

Francoise Bettencourt Meyers of France is the richest woman in the world, ranked No. 14 on Forbes' list of billionaires.

Which country has most billionaires in Africa? ›

South Africa

Who is the richest woman in Africa 2022? ›

TOPPING THE LIST OF WEALTHY POWERHOUSES IN AFRICA IS: Folorunsho Alakija - a Nigerian billionaire Fifty years ago Folorunsho started out in the fashion industry and today her business interests include real estate, oil and gas and printing.

What are the top 3 companies? ›

What Are the Biggest Companies in the World by Revenue?
  • Walmart (WMT) - $576 billion.
  • Amazon (AMZN) - $486 billion.
  • Petro China (PTR) - $443 billion.
  • Saudi Aramco (2222.SR) - $394 billion.
  • Apple, Inc. ( AAPL) - $388 billion.

What company makes the most money? ›

In fiscal year 2020, Apple posted the highest net revenue of any company in the world, with profits of 57.4 billion U.S. dollars.
Leading companies in the world in 2020, by net income (in billion U.S. dollars)
CharacteristicNet income in billion U.S. dollars
12 more rows
5 Aug 2022

What are the 5 largest industries in the world? ›

Global Biggest Industries by Employment in 2022
  • Global Consumer Electronics Manufacturing. 17,518,424.
  • Global Commercial Real Estate. 17,164,710.
  • Global Fast Food Restaurants. 13,458,146.
  • Global HR & Recruitment Services. 11,988,376.
  • Global Apparel Manufacturing. ...
  • Global Hotels & Resorts. ...
  • Global Coal Mining. ...
  • Global Tourism.

What are the 3 largest economies in Africa? ›

List of African countries by GDP (nominal)
RankCountryNominal GDP (Billion US$)
3South Africa411.480
51 more rows

What is the best business in Africa? ›

10 Business Opportunities in Africa That Will Create More Millionaires in 2022
  • Retail. ...
  • Fashion & Beauty. ...
  • Real Estate. ...
  • Internet & Tech. ...
  • The Green Revolution. ...
  • Building and Construction Supplies. ...
  • Financial services. ...
  • Investment.

What is Africa's biggest economy? ›

GDP of African countries 2021, by country. Nigeria's GDP amounted to 441.5 billion U.S. dollars in 2021, the highest in Africa.

What is the largest economy in Africa 2022? ›

Egypt was the largest economy in North Africa in 2022. In that year, its GDP amounted to 435.6 billion U.S. dollars, the second-highest in Africa after Nigeria. Algeria and Morocco followed, with the GDP totaling around 194 billion and 133 billion U.S. dollars, respectively.

Which African country is rich? ›

Wealthiest countries in Africa 2021. South Africa concentrated the largest amount of private wealth in Africa as of 2021, some 651 billion U.S. dollars. Egypt, Nigeria, Morocco, and Kenya followed, establishing the five wealthier markets in the continent.

Which is the fastest growing economy in Africa? ›

Ethiopia and Rwanda, for example, saw some of the fastest expansions in the world—an average of more than 7.5 percent per year over the past two decades.

What is the highest profitable business? ›

Most Profitable Business Ideas
  • Business Consulting. If you're an expert in your industry and have been working at it for years, you should consider consulting. ...
  • IT Support, Technology Consulting, and Repair. ...
  • Cleaning Services. ...
  • Accounting and Tax Preparation. ...
  • Auto Repair. ...
  • Real Estate. ...
  • Online courses. ...
  • Marketing and PR Services.

What business makes the most money? ›

Most Profitable Companies Ranked
CompanyProfit per Hour
3Berkshire Hathaway$4,853,995
6 more rows

How can I make easy money in Africa? ›

Recommended articles
  1. Dropshipping. Africans can earn a desirable income from the dropshipping market which was estimated at $128 billion as of 2020. ...
  2. Freelancing. ...
  3. Cryptocurrency. ...
  4. Course Creation. ...
  5. Transportation and Logistics. ...
  6. Agriculture. ...
  7. Tutoring. ...
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20 Jan 2022

What are Africa's 6 fastest growing economies? ›

Leading data and analytics company GlobalData notes that the fastest-growing economies in the region will be Morocco, Kenya, Ghana, Egypt and South Africa, which are all forecast to register above 4% real GDP growth in 2021.

What is the richest city in Africa? ›

South Africa's biggest city held 239 billion U.S. dollars in private wealth, while Cape Town followed with 131 billion U.S. dollars.
Total private wealth in major cities in Africa as of 2021 (in billion U.S. dollars)
CharacteristicWealth in billion U.S. dollars
12 more rows
1 Aug 2022

Is Africa a rich or poor? ›

The African continent is no doubt the most resource-abundant continent. Resources such as gold, diamond, oil, natural gas, copper, uranium, among others are mined in different parts of the continent. Almost every country in Africa has a deposit of natural resources, Africa is also the poorest continent in the world.

Which country in Africa will be the richest in 2030? ›

The first African country with a GDP over $1 trillion in 2030 will be Nigeria, according to experts. The calculation says the country's economy will more than double in that time frame.

Which African country is doing best? ›

South Africa is ranked the second most innovative country in 2022, followed by Botswana and Kenya in third and fourth place, respectively. Globally, only Mauritius (45th) and South Africa (61st) rank among the top 80 most innovative countries in 2022.


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Author: Edmund Hettinger DC

Last Updated: 09/23/2022

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Name: Edmund Hettinger DC

Birthday: 1994-08-17

Address: 2033 Gerhold Pine, Port Jocelyn, VA 12101-5654

Phone: +8524399971620

Job: Central Manufacturing Supervisor

Hobby: Jogging, Metalworking, Tai chi, Shopping, Puzzles, Rock climbing, Crocheting

Introduction: My name is Edmund Hettinger DC, I am a adventurous, colorful, gifted, determined, precious, open, colorful person who loves writing and wants to share my knowledge and understanding with you.