East Africa is an African region that houses several countries. Its one of a kind in East africa. This is mainly boosted by the services sector. Kenya is also Classified as Lower-middle income economy while the rest of east african countries are classified as least developed countries. 10. The services sector accounts for around 79.7% of the GDP, followed by industry at 17.3%, and agriculture at 3%. The Central African Republic, for example, is the second-poorest country in Africa and has a population of 4.7 million people and a life expectancy of 52.9 years. The Republic of Namibia came into existence in 1990. leading other East African countries. Eritrea has a GDP of 1,103, which is one of the lowest in the world, but the economy of Eritrea has experienced considerable growth in recent years. The country with the highest gross domestic product value in Africa is Equatorial Guinea , and the country with the lowest GDP is Somalia. Required fields are marked *. About 42,729,036 people call Uganda home. Top KES Conversion: USD/KES. With a GDP of 2,642, the country has recovered somewhat. The GDP (PPP) of the dependent or integral territories of the United Kingdom, France, Italy, Spain, Portugal, Yemen and Malta within the African continent are not included in this list. The Republic of Djibouti is a country located in the higher part of east Africa, called the Horn of Africa. For proof, these are the 10 richest countries in Africa listed by World Atlas, which in turn, is using data on GDP per capita from the International Monetary Fund for 2017: 10. Mike Adenuga ($7.7 billion), Nicky Oppenheimer ($7.7 billion) and Johann Rupert ($6.6 billion) completes the top 5 richest in Africa. Among these countries, the trio of Tanzania, Kenya, and Uganda are considered the leading giants. The country’s neighbors are Ethiopia, Sudan, the Central African Republic, the Democratic Republic of the Congo, and of course Uganda and Kenya. In fact, the country is the leading in Africa in production of palm oil. Luxembourg is among the world's richest countries. In fact, most of the richest musicians in East Africa are also the richest musicians in Uganda.. Further, the list contains a variety of musicians, for example, rappers, singers, as well as vocalists. This is mainly boosted by the services sector. The country has a GDP per Capita of 3,652, and the economy is boosted by strong gold prices. Nigeria, the leading among richest countries Africa mostly depends on oil as her major economic recourse. {{The capital city Nairobi was founded in 1899 by the colonial authorities in British East Africa, as a rail depot on the Uganda Railway}}. Top 10 Richest Men In Africa 2021 and Net worths (Forbes) . We want to discover the most economically vibrant and wealthiest countries in East Africa. There are very few resources to mine, and the manufacturing sector is underdeveloped. The countries that are close to Kenya are Uganda and Tanzania. Officially known as the Republic of Tanzania and has a total population of 57.31 million led by John Magufulli as the president. Currently, Equatorial Guinea is the richest country in Africa, with a per capita income of $34,865. Rwanda is one of the smallest countries on the African mainland and is home to 12,374,397 people. Richest countries in Africa: Equatorial Guinea is a country located in Central Africa. Agriculture is the most important sector of Somalia’s economy. About 11,865,821 people call Burundi home. Main sectors that contribute to the economy include  agriculture,fishing, manufacturing, tourism and financial services. Uganda GDP per Capita: $2,753. Closing On The Wealthiest Countries In East Africa. Namibia sits in Southern Africa. The country is the third largest economy in sub-Saharan Africa after Nigeria and South Africa. The country has a GDP of 2,702 and is one of the fastest-growing economies in the world. Namibia – $11,528. Somalia has the longest coastline on Africa’s mainland, meaning that there is so much potential in shipping and international trade. RICHEST MAN IN EAST AFRICA 20187 HERE ARE THE TOP 5. Eritrea has a landmass of about 117,600 km2 and a population of about 6,081,196. Nelson Ontita is the founder and chief editor at Technish.co.ke. Many sectors were not spared and the foreign exchange reserves were badly hit. The country has a population of 15,893,219. It makes sense, then, that Ethiopia is Africa’s second most populous country. Hello and welcome to Technish.co.ke, the largest resource site in kenya . Tanzania is an East African country located within the African Great Lakes region. They produce sorghum, millet, barley, wheat, legumes, vegetables, fruits, sesame, linseed, as well as cattle, sheep, goats, and camels. There is the potential to export hydroelectric power. It accounts for about 65% of the GDP and 65% of the workforce is engaged in Agriculture. Mohammed Dewji has built his family business from […] Similarly, we also covered the richest musicians in Kenya in the current year. Net Worth: $500 Million. The cost of living is comparatively high. Would love your thoughts, please comment. It has joined other countries in the world as an oil exploration country. Kenya has abundance of natural resources. Kenya is also the economic, financial, and transport hub of East Africa. Rwanda is a country located in East Africa. Kenya has developed a modern railway system (standard gauge railway) that runs from the port of mombasa to Nairobi. 4. The concentrated efforts there could be some change on the way because the country has petroleum, iron ore, copper, chromium ore, zinc, tungsten, mica, silver, gold, and even diamonds. Egypt was considered to be the richest country in Africa for many years but the revolution that took place in 2011 during the Arab uprising slowed things down. Ethiopia is a country in East Africa. Tanzania GDP per Capita: $3,652. Interestingly, East Africa is home to both one of the fastest-growing economies, and then one of the poorest in the world. This nation with its stable living conditions, an established coffee and tea sector, and rapidly growing agricultural sector is the wealthiest in southeast and central Africa. The ... 2. Human Development Index categorises kenya to have a medium human development index while the rest of East african countries have a low human development index. Tobacco, tea, sugar, hides and skins, cocoa beans, beans, and even flowers. In recent decades, India, […] Some of the fastest-growing economies, and also some of the most stable societies in Africa can be found within this region, making it a subject worth studying and for us to know the richest countries in East Africa presently. At Technish.co.ke our main goal is to provide cutting-edge helpful tutorials that are easy to understand for individuals and small businesses . The capital city of kenya, Nairobi, is the financial hub of east africa. Top 10 Richest Countries In East Africa 2020. It is generally agreed that east Africa has seen a lot of growth and development within the past 10 years, but that has not happened at an equal pace across the region. Your email address will not be published. The country has a total area of 23,200 km2 and a population of 921,804 people. The country’s economy is boosted by export income from coffee,  oil re-exports, base metals and products, fish, maize as well as cement. Africa’s Billionaires: Forbes ranks Africa’s wealthiest business people. Kenya is the second richest country in East Africa. Tanzania’s capital city is Dodoma. The Tanzanian is … It all goes without saying that the music industry in East Africa has tremendously prospered over the past 1-2 decades. It is widely regarded as the area where modern man emerged from so, if you trace back far enough, we're all a little bit Ethiopian. The country has a vibrant mining sector. With GDPs going up as high as $38,700. Agriculture constitutes around 85% of the country’s workforce. Home » Blog » Travel » Richest country in east africa 2020. Coffee and tea are the major cash crops that are grown for export. According to statistics provided by the IMF, the Top 10 richest countries in Africa are- based on GDP The apparent powerhouse in East Africa, as far as wealth generation is concerned, is Djibouti, and closely followed by Kenya. Although Macau is the wealthiest territory in the world where citizens receive annual cheques from the government, its poverty rate is often reported as high as 10%. With a GDP of south Sudan is 1715. Kenya is the richest country in East Africa. Although the number of countries with dollar billionaires in Africa has increased from four to eight over the past decade to 2020, this year there was not even one Kenyan in the list of Africa’s 20 richest men and women. 70% of the Eritrean workforce is employed in agriculture. The northeastern and eastern parts of Eritrea have an extensive coastline along the Red Sea. If you check all of the countries in East Africa, Kenya has the highest one. About 12,778,250 people call the country home. This is a list of the African nations ranked by Gross Domestic Product (GDP) at Purchasing Power Parity (PPP). Near the eastern shore of the continent lies not only a beautiful but also a prosperous country called Kenya. At the moment, Tanzanian Mohammed Dewji is the wealthiest man in East Africa. EAST AFRICA is a region within Africa that identifies geographically as well as economically. Somalia has a GDP of 888 USD, making it one of the poorest in the world. Cheers! The country is landlocked; bordered by Uganda, Tanzania, Burundi, and the Democratic Republic of the Congo. The country is sparsely populated with a total population of roughly two million. Nigeria also has a good number of people who have made appearances on Forbes Magazine as the richest blacks in the world. Uganda, the fourth wealthiest country located in East Africa. Agriculture employs more than 90% of the population, although they are mostly subsistent farmers. 5. It is neighbors with Uganda, Kenya, Comoro Islands and is exposed to the Indian Ocean to the east. Within the range of economies among the African countries, Kenya shows the tenth highest level of Gross … Human Development Index uses life expectancy ,education , and per-capita income to rank countries. Rwanda was a scene of a bloody genocide that completely wrecked its economy. The country is the third largest economy in sub-Saharan Africa after Nigeria and South Africa. Figures are given in international dollars according to the International Monetary Fund.. 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With a GDP per capita of $15,000, the country ranks in at 6th although unemployment remains a problem, especially among its youth. Djibouti GDP per Capita: $5,855. Here we discuss the ten richest countries in Africa in terms of GDP per capita, and the nature of their economies. Connect with him on facebook, twitter, instagram and linkedIn. The country’s neighbors are Somalia, Ethiopia, Eritrea, and the Red Sea. Kenya, a country in East Africa well known for its vast landscapes and wildlife is next on Africa’s richest country list, having a GDP of almost $100 Billion. Burundi is a landlocked country that comes last on our list of richest countries in East Africa. The population measures at around 1,222,245. Its neighbors are Ethiopia, the Gulf of Aden, the Guardafui Channel, and Kenya. Therefore, there exists the question of what countries are have spearheaded the economic boom that has recently been witnessed in East Africa. Read also : Biggest Economies In Africa 2020. Subsistence agriculture is highly important in the country; Potatoes, beans, sweet potatoes, cassava, wheat, and maize are important food crops. This is Kenya’s current President and the only presidential character on the list of the Richest Men in East Africa. With a GDP of 4,078, Kenya is East Africa’s richest country. Other nearby countries are Mozambique, Malawi, Zambia, Rwanda, Burundi, and Congo DR. Tanzania is home to Mount Kilimanjaro, Africa’s highest mountain. The business mogul owns Mohammed Enterprises Tanzania Limited (METL), which deals with real estate venture, textile industries, several acres of land for agriculture and transport business. Equatorial Guinea used to be under the control of the Spanish before earning their independence in 1968. This is a list of List of Richest Countries In Africa as of 2020.Mauritius, Seychelles, and Equatorial Guinea are the richest countries in Africa according to the latest research. The country’s neighbors are Sudan, Ethiopia, and Djibouti. Tanzania is famous for having the highest mountain known as Mount Kilimanjaro and also for its wildlife-rich national parks such as the Serengeti Nation Park. Djibouti has quite a developed economy; the GDP per capita stands at 5,855 USD making it the richest country in East Africa. Kenya GDP per Capita: $4,078. With a population of 47,564,296 (2019 census) people ,Kenya has a GDP per capita of $2,010 (nominal, 2019 est.) It comes in first place with a GDP per capita of $34,865. Hence, East African musicians are making more money than ever before, engaging audiences past their native countries. Kenya is by far the richest country in East Africa. The country is landlocked and shares borders with Eritrea, Djibouti, Somalia, and Kenya. With a GDP of 724, Burundi is perhaps the poorest country in the world. The country has a Nominal GDP of $98 billion. However, most of the produce is exported without processing. The richest rappers in East Africa own high-end properties, flashy cars, and boast of an executive lifestyle, desired by fans. The last country on our list and the richest country in Africa in terms of per capita income is Equatorial Guinea. No dout about that. Your email address will not be published. Kenya is also the economic, financial, and transport hub of East Africa. Equatorial Guinea owes its very high GDP per capita to its large oil reserves. Uhuru Kenyatta. Tanzania is generally a safe country to visit with very friendly locals. Major companies and organisation in the world are head quatered in Nairobi. With a current GDP that is just slightly below $450 Billion, Nigeria sits firmly as the richest country in the Africa. (adsbygoogle = window.adsbygoogle || []).push({}); Top 10 Richest Countries In East Africa 2021, Djibouti has quite a developed economy; the GDP per capita stands at 5,855 USD making it the richest country in East Africa. It is partly this low population that helps the GDP to remain relatively high. Significantly, Uhuru Kenyatta is a child of Kenya’s first President and the impressive aspect of his reputation is that he is Kenya’s … Country: Kenya. Most of them are building new ties with emerging markets, alliances that are believed will be critical in the coming years against a backdrop of China-US trade tensions and growing policy uncertainty in the United Kingdom owing to Brexit. Kenya is position 6 in Africa and 61 in the world in terms of nominal GDP. Equatorial Guinea is a small country located on the west coast of central Africa. Other sectors of the economy are tourism, telecommunications, and banking sectors. All figures are from the 2017 International Monetary Fund data. Significantly, METL has business operations which span across transportation, agriculture, textile making and real estate. In this article, we shall list the Forbes top 10 richest musicians in East Africa for the year 2021. This shows the potential power of the Kenyan Shilling. The country’s neighbors are Rwanda, Tanzania, Democratic Republic of the Congo, and the country has Lake Tanganyika on its southwestern border. The country has a population of 10,411,220. 3. Wealth is determined by a country's GDP. Spread the love There is currently a lot going on in African countries. The answer is very short and simple: GDP. At 18,146 Int$, Botswana’s GDP per capita makes it the fifth richest country in Africa. The government’s solid fiscal policy and an accelerated economic growth rate has allowed Botswana to achieve upper middle-income status, a remarkable feat among African nations. They dropped from $36 billion by the end of the year 2010 to a low of $16.3 billion in January 2012. Uganda has a GDP per Capita of 2,753. If such service-based economies can grow so rapidly, and sustainably, then it shows that there is quite a lot of untapped potential in east Africa; other countries have an example by which to build their economies, ensuring that they too grow sustainably, and rapidly, thus improving the quality of life of their citizens. The ease of doing business in kenya is staggering and mind-blowing high compaired to other east african countries.The Population below poverty line is lower in kenya compared to the rest of the EA countries. In Switzerland, German-, French- and Italian-speaking citizens have co-existed peacefully and thrived together for over 800 years. Eritrea is a country in Eastern Africa, with its capital in Asmara. The country is a landlocked country. Of Africa’s 54 nations, only 8 countries have billionaires: Egypt and South Africa are tied with five billionaires each, followed by … 06 Bishops Road, Social Security House, Block  A, Eastern Wing, 10th Floor, Nairobi. It has a lot of neighbors: Tanzania, Somalia, Uganda, South Sudan... Well, you are probably more interested in Kenya and why is it in our list? You may also like : USA Vs China: Which Is The Biggest Economy In The World 2020. the discovery of oil deposits in the 1990s virtually transformed the economy overnight and turned Equatorial Guinea into the richest Africa… Returns are expected to boost the economy further by 2025 . A big reason for the recent growth of the Eritrean economy is the full-scale production of gold and silver, as well as the production of cement. Aside from being the richest country in Africa, Nigeria is also the most populous African nation. If your not convinced that kenya is the Richest country in east africa, then tell me which country you think is the richest and why on comments section below. Algeria: $15,000 per capita Algeria is the largest country in Africa by land area (919,600 square miles) with a population of more than 40 million people. See also : Biggest Economies In East Africa 2020. As one of the richest East Africans, Karmali’s net worth places him around $700 million. The pillars for Namibia’s economy are tourism, manufacturing, agriculture and mining. The services sector in Kenya is really booming; several of Africa’s largest companies are headquartered in Nairobi. South Africa is 24th on the list of world richest countries but remains the Richest African Country with a GDP of 5,700,000,000 and Egypt as 26th in the World and 2nd Richest Country inThe top 10 list of the largest companies in Kenya is created by taking into account each company's latest annual report. As a vibrant business tycoon, Mohammed Dewji happens to be the reputable owner of METL (Mohammed Enterprises Tanzania Limited). The country has a population of over 109 million inhabitants and a total land area of 1,100,000 square kilometres. Kenya is one of the biggest exporter of tea and coffee in Africa. Somalia, with the capital Mogadishu, is a country in the Horn of Africa. This huge GDP is actually a reality in Nigeria due to the abundance of natural gas and crude oil. Dubai: Qatar and UAE are the two richest nations in the Middle East and North Africa (Mena) region, with the average adult owning more than half a million dirhams, according to a new report. Top 10 Richest People In Africa 2021 Africa is a beautiful continent that boasts of hosting some of the world's richest … What makes Kenya so special? 1. The services sector accounts for around 79.7% of the GDP, fol. It is relatively small, covering only around 10,830 square miles. If you want to know how to fix something then you are in the right place.We also provide entertainment and trending news. The country has a GDP of about $11,528. Not only is Ethiopia one of Africa’s wealthiest countries, it's also steeped in history. Save my name, email, and website in this browser for the next time I comment. It is bordered by Kenya, South Sudan, the Democratic Republic of the Congo, Rwanda, and Tanzania. The economy of South Sudan is one of the world’s most underdeveloped. A significant quantity of goods consumed here is imported, hence highly priced. The Republic of Djibouti is a country located in the higher part of east Africa, called the Horn of Africa. Main sectors that contribute to the economy include agriculture,fishing, manufacturing, tourism and financial services. We base our rankings on GDP per Capita because that is the metric that most concerns the people directly. {{Due to limited rainfall, vegetables and fruits are the principal production crops.}}. South Sudan is a country in East-Central Africa. Mohammed Dewji is the richest person in East Africa. Tanzania is a country in East Africa within the African Great Lakes region.}} First, this poll of the top 10 richest musicians in East Africa lists the wealthiest artists from 2020 to 2021. 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