Nominal GDP in African countries this Oct. This are African countries with a GDP greater than US$ 20 billion.
1 Nigeria $ 397.472 B
2 South Africa $376.679 B
3 Egypt $249.471 B
4 Algeria $188.342 B
5 Morocco $118.178 B
6 Angola $114.504 B
7 Kenya $89.591 B
8 Ethiopia $83.836 B
9 Tanzania $55.645 B
10 Ghana $51.815 B
11 Côte d’Ivoire $45.875 B
12 Libya $43.236 B
13 Democratic Republic of the Congo $42.692 B
14 Tunisia $41.662 B
15 Cameroon $38.445 B
16 Sudan $33.249 B
17 Uganda $27.855 B
18 Zambia $25.778 B
GDP per capita in the same countries;
1 Libya $6,638.60
2 South Africa $6,560.04
3 Algeria $4,449.79
4 Angola $3,924.35
5 Tunisia $3,573.37
6 Morocco $3,355.42
7 Egypt $2,572.38
8 Nigeria $2,050.15
9 Kenya $1,865.21
10 Côte d’Ivoire $1,791.37
11 Ghana $1,786.65
12 Cameroon $1,544.96
13 Zambia $1,450.409
14 Tanzania $1090.099
15 Ethiopia $890.565
16 Sudan $795.273
17 Uganda $717.496
18 Democratic Republic of the Congo $478.321
East Africa has a bright future, and if D.R. Congo gets good leadership in the upcoming elections, they will follow suit. The growth of Tanzania, Ethiopia and hopefully Congo will have a positive effect on Kenya.
We discussed this the last time. We will overtake Ethiopia despite having half its population because their economy is slowing down, their numbers were inflated and our economy is steadily growing.
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Update your records,
They have a hungry, young leader who is not fucking with Chinese. The only person being entertained there is crown prince of Abu Dhabi with conditions.
They will go far.
Also I think we should over take them not because they are slowing but because we are moving faster than them.
Hakuna kitu umesema hapo. You are reading a few western media headlines as fact. China first of all is the biggest bilateral trade and investment partner of Ethiopia for the last decade. All their infrastructure projects have been built by them. From power plants, power transmission, roads, railways, stadiums, special economic industrial zones etc. However three things went against them, non existence of private sector in Ethiopia, inflated economic numbers by Ethiopia government to enhance growth/revenue that was not accurate and modest growth of tax collection at 3% increase annually 7 months ago Ethiopia had only one month of fired left before they go broke. For an economy that grows for 7% annually for a decade, it didn’t make sense. The changed leadership at the top and called Saudi Arabia and UAE to provide emergency loan of $2 billion each. China on its part did them the best favour, it rescheduled its loans from 10 years to 30 years reducing its annual payment by 66%. That means they will repay only 33% of their loans payments saving a lot of forex that is needed desperately in the country. The warning signs were there for a while, all projects has stalled or slowed down. Getting forex in Addis was a hustle, you issue £, $, € in bole airport you get change in local currency. Getting your forex back will require you apply for permission at central bank.
I don’t rely on Western media but I do most of my business there, also not everything you Google is correct since the media is biased every where.
If you have been there for the last 3months you can feel the spirit.
What does spirit have to do with economic figures. What’s the rot in their system? It took them a decade to get to this point, how long will it take for them to rectify it and overnight feelings can’t change that suddenly. Yes they made peace with Eritrea, thats great and that was a necessity since they couldn’t afford to be at war footing forever in unnecessary war. Peace time had arrived. However in the last one month 75,000 people have been displaced from internal infighting. A gang of people are moving around attacking one community while the police and army stays away. Is that even in the news. Their biggest project ever GERD dam 6000MW built by local engineers after Egypt made sure it will threaten all parties from funding it or building has stalled. PM Ably review of the project led to suspension of build. Its foundation is weak, its too big and holding too much water such that cracks are present at its crust foundation. Chinese firms have now been drafted in for remedial repair and to complete the project. The Ethiopian chief engineer of the project committed suicide. Is that in the media. Their is a lot more going on behind the scenes. I wish them well in the period of changes and reforms however I know this inflated figures wouldn’t be possible anymore.