Ethiopia ranked 3rd richest country in Africa

Addis Ababa, 6 February 2015 (WIC) -Africa is home to some of the richest countries in the world, in part due to its oil-rich soil and human capital, With GDPs going up as high as $594.257 billion.

According to statistics provided by the International Monetary Fund (IMF), these are currently the Top 10 richest countries in Africa.

1. Nigeria: GDP – $594.257 billion

The most populous country in Africa is a major contender on this list, its manufacturing sector being the third largest in Africa while it contributes a considerable share of the world’s oil. Taking into account this country’s population of 170 million, Nigeria is on track to becoming one of the 20 largest economies in the world by 2020.

2. South Africa: GDP – $341.216 billion

South Africa is popularly known for its mineral resources such as gold and diamond but the Gold Rush ended back in the 19th century. There are more things to look forward to in South Africa besides its jewels. Major cities like Johannesburg and Cape Town offer a unique experiences that can offer scenic routes to mountain ranges by the ocean.

3. Ethiopia: GDP – $284.860 billion

As one of the fastest growing economies in the world, Ethiopia has had to contend with the rising number of able youths eager to work. The Ethiopian economy depends largely on agriculture and learning the tools of the farming trade, although you wouldn’t find such people in the country’s capital, Addis Ababa. Most young people in Addis Ababa are into telecommunications and the financial industry.