Business

Top 10 African countries with the highest exports within the continent

Published

Wednesday, 9 April 2025, 1:50 pm

Top 10 African countries with the highest exports within the continent 1

Top 10 African countries with the highest exports within the continent, Additionally, trade strengthens the overall economic prospects of the continent by contributing to the growth of its GDP.

When compared with other regions, intra-African trade which contributes just about 15% to Africa’s total trade comes far below the scoreboard unlike Asia (58%), and Europe – (over 70%).

Intra-African trade involves both imports and exports and majorly involves the trade of goods and services across the continent from country to country. These goods range from different categories like fuels, machinery, vehicles, ores, slag and ash, and iron and steel.

The African Trade Report (2024) lists the top five traded goods during the period as; mineral fuels, machines/mechanical appliances, fertilisers, Iron/steel and vehicles.

Several African countries have been at the forefront of bolstering trade in the continent and according to the African Trade Report (2024) published by the African Export-Import Bank (Afreximbank), the following countries were responsible for fostering cross-border commerce across the continent.

Rank	Country	Intra Africa Import ($)	Intra Africa Export ($)	Total Intra Africa Trade($)
1	South Africa	29.6	9.59	39.19
2	Côte D’IVoire	11.38	4.7	16.08
3	Egypt	6.61	1.63	8.24
4	Nigeria	5.63	2.36	7.99
5	Zimbabwe	2.9	4.73	7.63
6	Mali	2.52	5.03	7.55
7	Ghana	6.02	1.33	7.35
8	Zambia	3.17	3.75	6.92
9	DR Congo	3.34	3.55	6.89
10	Namibia	3.15	3.12	6.27

On a regional scale, Southern Africa emerged as the intra-African trade powerhouse as it accounted for a larger share of intra-African trade in 2023. West Africa sealed its position as the second largest region for intra-African trade, accounting for 25.7% of total intra-African trade during the period.

East Africa emerged as the third-largest intra-African trading subregion contributing 14.1% while North and Central Africa accounted for about 12.4% and 6.6% respectively, of total intra-African trade.

According to the Trade in Transition report, a research programme led by Economist Impact, several factors have been noted to actively hamper intra-African imports and exports which include Increased inflation and economic uncertainty, higher transport costs, unfavourable foreign exchange, political instability and high tariff costs.

The introduction and subsequent ratification of the African Continental Free Trade Agreement (AfCFTA) is expected to resolve some of these bottlenecks and also boost intra-African trade by 52.3% by 2025, increasing Africa’s income by up to US$450 billion by 2035.

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Business

Airlines slash fares to Europe on FX rate, low season

Published

2 hours ago

April 9, 2025

John

The worlds 10 best low cost airlines in 2024

Low travel season and reduction in exchange rates are seeing airlines operating from Nigeria to Europe slash fares and offer

read more Airlines slash fares to Europe on FX rate, low season

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Business

Meet Forbes’ Top 5 Black Billionaires of 2025

Published

5 hours ago

April 9, 2025

John

Contents

1. Aliko Dangote: $23.9 billion 2. David Steward: $11.4 billion 3. Robert F. Smith: $10.8 billion 4. Alexander Karp: $8.4 billion 5. Mike Adenuga: $6.8 billion

The 2025 list of Black billionaires shines a spotlight on some of the most influential figures in the global business arena. Their achievements span diverse industries, including manufacturing, technology, investment, and telecommunications, and serve as a testament to their ability to redefine success.

Below is a closer look at five outstanding individuals who have reached billionaire status, along with their net worth and the remarkable journeys that have brought them to the forefront of global business.

1. Aliko Dangote: $23.9 billion

Aliko Dangote, Nigeria’s business magnate, tops the list with an astonishing net worth of $23.9 billion. As the founder and chairman of the Dangote Group, he has built an empire that spans cement production, sugar refining, and flour milling, among other sectors.

His relentless pursuit of growth and his visionary investments have not only transformed Nigeria’s economy but have also positioned him as a leading figure in African industry.

2. David Steward: $11.4 billion

David Steward is the co-founder and chairman of World Wide Technology, a thriving enterprise in the information technology sector. With a net worth of $11.4 billion, Steward’s journey from humble beginnings to becoming one of America’s richest Black businessmen is both inspiring and instructive.

His leadership and commitment to creative solutions have been central to the company’s rapid expansion and its influence in the global tech market.

ALSO READ: Top 10 richest people in the world (2025)

3. Robert F. Smith: $10.8 billion

Robert F. Smith, the founder and CEO of Vista Equity Partners, has a net worth of $10.8 billion. Smith has earned acclaim for his remarkable achievements in private equity and investment management. Under his stewardship, Vista Equity Partners has grown into one of the most successful firms in its field.

His philanthropic efforts, particularly in education and social justice, further underscore his commitment to giving back to the community.

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EXPLORE: How these lucky women met their billionaire husbands

4. Alexander Karp: $8.4 billion

Alexander Karp, CEO and co-founder of Palantir Technologies, boasts a net worth of $8.4 billion. Known for his forward-thinking approach to data analytics and software solutions, Karp has played a pivotal role in driving digital transformation across industries.

His leadership at Palantir reflects a unique blend of technological insight and strategic thinking that has been instrumental in establishing the company’s global reputation and success.

5. Mike Adenuga: $6.8 billion

Mike Adenuga rounds out the list with a net worth of $6.8 billion. As the founder of Globacom, one of Africa’s largest telecommunications companies, Adenuga has been a key force in expanding Nigeria’s telecom and oil sectors.

His entrepreneurial spirit and strategic investments have helped reshape the business landscape, making him a role model for aspiring entrepreneurs across the continent.

These remarkable individuals exemplify the power of vision, determination, and creativity in overcoming obstacles and achieving extraordinary success.

Their stories inspire not only future generations of Black business leaders but also all who dare to dream big and redefine the meaning of success on a global scale.

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