﻿5 richest countries in West Africa
West Africa is a region made up of a group of countries having the same trends and a common
heritage. West Africa can also be described as a community of peoples which tends to reconstitute
itself politically through the Economic Community of West African States (ECOWAS).
West Africa consists of Senegal, Mali, Niger, Benin, Burkina Faso, Cape Verde, Côte d’Ivoire,
Gambia, Ghana, Guinea, Guinea -Bissau, Liberia, Sierra Leone, Togo, Nigeria, and Mauritania.
ECOWAS, consist of these same countries with the exception of Mauritania, which left ECOWAS
in 2000 to join the Arab Maghreb Union. Let’s take a look at the 5 wealthiest countries in
the beautiful community of West Africa and choose with country will make good on our investments.
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our new videos 5. Mali
The top 5 of the richest countries in West Africa ends with Mali, which in 2020 has a GDP estimated
at 19.02 million dollars. Mali is a fairly poor country with no significant mineral resources.
However, population growth is strong (in 2017, for example, the fertility rate was six children
per woman). The Malian economy is driven by the primary and tertiary sectors, particularly
agriculture, mining and commerce. Agriculture in Mali is however weakened because of the vagaries
of the climate which also represent a risk for the country’s food security. In terms of extraction,
Mali exports oil. It is also the fourth largest gold exporter in the world. However, forecasts say
that if China and the European Union experience a limited economic slowdown and if the price of oil
drops by 25%, the country’s GDP growth is expected to decline to 4.9% in 2020 compared to the year
2019 during which the growth was 5.1%. 4. Senegal
Senegal has an estimated GDP of 25.77 billion dollars. Senegal’s economy is based on mining,
construction, tourism, fishing and agriculture. Agriculture is the main sources of employment in
rural areas. The main industrial companies export the phosphates and fertilizers they produce,
fishery and agricultural products. According to the macroeconomic outlook,
real GDP growth should reach 6.3% in 2020 and 6.8% in 2021 with a low risk of debt distress.
3. Côte d’Ivoire Although Ivory Coast has presented
an average economic growth estimated at around 6% over the last decade. Real GDP growth was
7.4% in 2018 and 2019 and could remain above 7.0% over the period 2020-2021 if climatic conditions,
especially rainfall are favorable. Ivory Coast has an estimated GDP of 48.35 billion dollars in 2020.
The largest contributions to the GDP comes from, the commercial and secondary tertiary sectors.
Forecasts predicted that the private investment and services sectors
would drive economic growth through new activities in transport, commerce and telecoms in 2020 and
growth in private investment is also expected to support agricultural transformation through 2021.
2. Ghana Ghana is the second richest country in West Africa
with a GDP of $ 69.76 billion. It has a population of about thirty million people. In recent years,
there has been an increase in the prices of raw materials, a new agricultural and industrial
dynamic, and the realization of many large-scale infrastructure projects. Equally, we observe
the exploitation of new oil areas and the digital advancement. Ghana with its many economic, social
and political assets has thus risen to the second place among the richest countries in West Africa.
1. Nigeria The Gross Domestic Product (GDP)
is used in the estimation of the wealth of all the countries of the world and will be used in
the case of the countries of West Africa as well. Nigeria, which is the richest country in Africa,
is obviously the richest country in West Africa. It had a GDP of 494.83 billion dollars.
The abundant reserves of crude oil and natural gas are the country’s main sources of income. Nigeria
is the largest producer of black gold in Africa. In which of these countries do you want to invest?
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