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3 Top African Countries To Look Into For Investment Purposes

3 Top African Countries To Look Into For Investment Purposes.

African Countries regardless of what’s portrayed have tremendous economic potential, with rewarding opportunities for investors and partners.

According to statistics, these countries have the highest Gross Domestic Product (GDP).
1. Nigeria
The country’s gross domestic product stood at $514 billion in 2021, emerging as the African country with the highest GDP. According to the National Bureau of Statistics (NBS), Nigeria’s GDP rose by 4.03% in Q3 of 2021.
Also, according to Trading Economics, communication, information, and services represent 10% of the total output. Agriculture, natural gas, and crude petroleum account for 11%, while construction, industry, and main exports account for 16% of GDP.

Read Also, FG’s plans to increase oil, gas reserves on course – DPR

2. Egypt
A report by Reuters indicates that Egypt’s economy soared by 9.8% in Q1 of the 2021-22 fiscal year that started in July 2021. And according to statistics, Egypt is one of the wealthiest African countries by total GDP for 2021.
Egypt has the second-highest GDP in Africa at $394 billion. The country has a mixed economy profiting from fossil fuels, agriculture, and tourism, ideal for investors.

3. South Africa
According to Trading Economics, South Africa is the most developed country in Africa, with services representing 73% of its GDP.
And data show that South Africa’s GDP in 2021 stood at $329.53 billion. The country’s GDP benefits from business and government services, real estate, finance, communication, transport, and more.
Also, according to data by Bloomberg indicate that Africa’s most industrialized economy could grow by 2% in 2022 and 2.1% in 2023. With the largest stock exchange on the continent, macro-economic stability and rewarding opportunities in social services expenditure.

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