South Africa’s economic dominance within Africa is once again highlighted in a recent report by Africa Facts Zone, revealing the nation’s tax revenue for the 2023/2024 fiscal year to be a staggering $115.24 billion. This figure dwarfs the combined tax revenue of Nigeria ($12.37 billion), Egypt ($25.17 billion), Ethiopia ($9.35 billion), and Morocco ($27.2 billion) – countries with a total population exceeding 482 million, nearly eight times that of South Africa’s 62 million.
Clayson Monyela, South Africa’s Head of Public Diplomacy, took to social media to point out this disparity. Monyela emphasized South Africa’s position as the continent’s economic powerhouse, attributing its success to a “bigger, most industrialized, diverse & dynamic economy.”
The combined populations of #Nigeria, #Egypt & #Ethiopia #Morocco is 482 million. Their combined Tax Revenue for 2023/24 is $74.09 billion. #SouthAfrica🇿🇦 (population 62 m) alone collected $115.24 billion. 🇿🇦 by far the continent’s economic giants, running the biggest, most… https://t.co/XT4JTwr1r5
— Clayson Monyela (@ClaysonMonyela) April 6, 2024This report sheds light on the significant economic gap between South Africa and many other African nations. While the combined population of the North and East African countries mentioned surpasses South Africa’s by a significant margin, their collective tax revenue falls far short, indicating a substantial difference in economic activity and productivity.
African Countries' Tax Revenue for 2023/2024
1. South Africa 🇿🇦 ($115.24 billion)
• Population – 62 million
2. Morocco 🇲🇦 ($27.2 billion)
• Population – 38 million
3. Egypt 🇪🇬 ($25.17 billion)
• Population – 108 million
4. Nigeria🇳🇬 ($12.37 billion)
• Population – 221…
— Africa Facts Zone (@AfricaFactsZone) April 6, 2024