African Economies 5-28-24

Prior to 1619, African Kings who had conquered neighboring countries began to sell their captives into slavery. In 1619 the British became major importers of African slaves to North America. 

In 1652, the Dutch established a trading company in South Africa. In 1691 the Dutch began to colonize South Africa and established farms. The British took over South Africa in 1806 and the Dutch farmers remained.

The era of European colonialism in Africa ran from 1884 to 1914, when European countries seized control of many African countries. Decolonization occurred slowly after 1945. The power voids that resulted from decolonization resulted in civil wars between power-based factions that further damaged the economies of many of these countries from 1945 to the 1980s. Islamic terror groups continued the violence by invading countries from the 1980s to 2020s. 25% of Africa is desert.

Africa has 51 countries. Nominal GDP totals $3.1448T, Per Cap totals $2150.6, Debt to GDP 63.5%

Africa’s total Population is 1.460,481,772. Inflation is reported from 2021 to 2024 at 17.8%, but is actually higher.

Country          NGDP $B  PerCapGDP   Population   Debt to GDP

Egypt              398.397B     3770.13     112,716,598        92.7%

Nigeria            390.002B     1755.32     223,804,632        38.8%

S Africa           380.906B     6190.74      60.414,595         73.9%

Algeria            244.107B     4874.71      45,606,480         32.6%

Ethiopia          155.804B     1473.36    126.527,060         33.0%

Morocco         147.343B     3979.87      37,840,044         69.7%

Kenya             112.749B     2118.00      55,100,586         67.0%

Angola              93.796B     2550.00      36,684,202         80.5%

Tanzania          84.033B     1326.63      67,438,106         37.0%

Ivory Coast       79.430B     2728.08      28,873,034         34.5%

Ghana              76.628B     2328.97      34,121,985          71.1%

DRCongo         67.512B      675.48     102,262,808          58.2%

Uganda            52.390B    1163.03       48,582,334          52.0%

Tunisia             51.271B    4190.60      12,458,223           79.0%

Cameroon        49.262B    1721.95      28,647,293         123.0%

Libya                40.194B    5872.22        6,888,388           81.0%

Zimbabwe        32.424B    2005.87      16,665,409         284.9.%

Senegal           31.141B    1714.65      17,763,163           74.0%

Zambia            29.536B    1435.89      20,569,737           65.0%

Sudan             25.569B      533.84      48,106,006          256.0%

Guinea            23.205B    1542.76      14,190,612           35.5%

Mozambique   21.936B      647.13      33,897,354           96.4%

Mali                 21.309B      912.64      23,293,698           38.3%

BurkinaFaso   20.785B      888.03      23,251,485            61.2%

Botswana       20.756B    7758.37        2,675,352          123.0%

Benin             19.940B     1449.11     13,712,828            53.0%

Gabon            19.319B    8831.82       2.436,566             57.4%

Niger              17.073B       630.80    27,202,843               3.9%

Madagascar   15.763B      529.56     30,325,732             54.0%

Mauritius        14.819B   11751.51      1,300,557             69.3%

Congo             14.407B    2857.61      6,106,869             13.3%

Rwanda          13.927B    1031.69    14,094,683              63.3%

Malawi            13.176B      579.70    20,931,751              68.0%

Namibia          12.647B    4785.68      2,604,172              68.5%

Chad              12.596B      702.85    18,278,568               43.2%

Somalia          11.515B      717.41    18,143,378                6.0%

Mauritania      10.357B    2337.91      4,862,989              48.1%

Eq Guinea      10.041B    6502.19      1,714,671              37.7%

Togo                 9.111B   1004.46      9,053,799               66.0%

S Sudan           6.267B     417.44     11.088,796              60.8%

Liberia              4.347B     800.21       5,418,377              54.5%

Djibouti             3.873B   3761.24      1,136,455               41.8%

Sierra Leone    3.519B      414.96     8,791,092                89.0%

Burundi            3.190B     245.81    13,238,559                72.7%

C African R      2.760B     539.24      5,742,315                50.1%

Cabo Verde     2.598B   4502.78         598,682              113.1%

Gambia           2.388B     903.29       2,773,168                75.8%

Seychelles       2.085B   20889.55       107,660               123.0%

Guinea Bissau 1.991B   1028.22      2,150,842                 77.8%

Eritrea             1.982B        56.73      3,748,901               146.0%

Cameros         1.364B     1377.02       852,075                101.8%

Totals         3.1448T       $2150.6        1.46B                      63.5%

https://en.wikipedia.org/wiki/List_of_African_countries_by_GDP_(nominal)

https://www.worldometers.info/geography/how-many-countries-in-africa/

Exports include petroleum, petroleum products and other raw materials and commodities. Mining gold, diamonds, minerals and rare earth minerals continue to be exported.

Imports include mineral fuels, industrial goods, machinery, transport equipment and durable consumer goods

Africa needs clean water and cheap energy. There are 87 hydroelectric plants in Africa,

There are 718 million Christians and 598.5 million Muslims. In 2023, Nigeria had the largest Muslim population in Africa, with around 99 million people who belonged to an Islamic denomination. Egypt and Algeria followed with 87.5 million and 41.2 million Muslims, respectively. Apr 28, 2023

In 2023, 957 thousand (45%) Africans lived in urban areas. 687 thousand live in rural villages.

The highest inflation rates in 2021-2021 in Africa are in Zimbabwe, Sudan and Ethiopia.

Africa has adapted to the technologies needed to continue and expand trade and want to include manufacturing to their exports to create jobs. If Africa can increase consumption by its citizens, it will increase demand and demand will increase trade and Nominal GDP. African citizens need to focus on their economies and increase their productivity.

Norb Leahy, Dunwoody GA Tea Party Leader