TOP 3 African GDPs in 2024: Two exploits, one in Maghreb and one in South…

In the latest update from the International Monetary Fund (IMF) in December 2023, Nigeria had already lost its position as the leading African economic power to Egypt. South Africa ranked second, while Nigeria had been downgraded to third, and Algeria ranked fourth. According to the updated IMF data for 2024, the situation deteriorated for Nigeria as it no longer even holds a spot in the top three economies in Africa.

At the top of the continent’s GDP rankings, we discover South Africa, despite the pervasive issue of endemic corruption, a scourge that undermines the integrity of the state. The nation, synonymous with the global icon Nelson Mandela, has still managed to set an economy worth $373 billion. This accomplishment should urgently be leveraged to address the ongoing social inequalities between blacks and whites, a chronic ailment that fuels crime and insecurity, posing significant challenges to economic prosperity.