Top 20 Most Prosperous Countries in Africa (2024)

Mauritius, Seychelles and South Africa are among the most prosperous countries in Africa, according to the latest prosperity index.

The Legatum Prosperity Index is an annual ranking developed by the Legatum Institute, a division of the United Arab Emirates- based private investment firm, Legatum.

Top 20 Most Prosperous Countries in Africa, 2024

According to this year’s prosperity index, which was published on LPI’s official website, Mauritius is the most Prosperous country in Africa. Globally, the country secured the 47th position and clinched the top spot in Africa. The index highlights Mauritius’ exceptional performance in governance and social capital.

Seychelles holds the second position on the list of the most prosperous countries in Africa. According to the index, the country performs best in health and governance.

Africa’s second biggest economy, South Africa also made it into the list of Most prosperous countries in Africa, the country was ranked 85th globally and 3rd in Africa. According to the index South Africa performs best on social capital, governance and investment environment.

1. Mauritius

Mauritius consistently ranks as one of the most prosperous countries in Africa. Its stable political environment, robust economic policies, and strategic location have contributed to its success. With a well-diversified economy spanning tourism, finance, and information technology, Mauritius shines as a leader in African prosperity.

Pillar Rankings
Mauritius performs most strongly in governance and social capital. The biggest improvement compared to a decade ago came in Education.

2. Seychelles

Seychelles, an Indian Ocean archipelago celebrated for its natural beauty, has achieved prosperity through sustainable development. The nation’s commitment to effective governance and the environment has propelled it into the ranks of Africa’s most prosperous countries. Seychelles’ investments in fisheries, renewable energy, and eco-tourism further solidify its standing.

Pillar Rankings
Seychelles performs most strongly in health and governance. The biggest improvement compared to a decade ago came in Economic Quality.

3. South Africa

As the continent’s economic powerhouse, South Africa holds a prominent position on the list of prosperous African countries. With a diverse economy, abundant natural resources, and a well-established infrastructure, South Africa plays a vital role in regional economic dynamics. The country’s commitment to inclusive development has contributed to its sustained prosperity.

Pillar Rankings
South Africa excels most strongly in social capital, governance and investment environment. The most significant improvement compared to a decade ago has been in Social Capital.

4. Cape Verde

Cape Verde, an island nation off the northwest coast of Africa, has emerged as a success story in terms of economic growth. The country has diversified its economy beyond traditional sectors, such as agriculture and fishing, and has invested in tourism and services. Cape Verde’s stability and strategic positioning have attracted international investments, further boosting its prosperity.

Pillar Rankings
Cabo Verde performs most strongly in economic safety and security, personal freedom, governance and market access but is weakest in economic quality. The biggest improvement compared to a decade ago came in Health.

5. Botswana

Botswana, known for its stable political environment and commitment to good governance, remains one of Africa’s success stories. The country has effectively managed its diamond resources and invested in education and healthcare. Botswana’s focus on sustainable development and prudent economic policies has contributed to its prosperity.

Pillar Rankings
Botswana performs most strongly in governance, personal freedom and cconomic quality but is weakest in Health. The biggest improvement compared to a decade ago came in Economic Quality.

6. Sao Tome and Principe

Sao Tome and Principe, a small island nation in the Gulf of Guinea, has experienced economic growth driven by sectors like cocoa production and tourism. The government’s efforts to attract foreign investments and promote sustainable development have positively impacted the country’s prosperity.

Pillar Rankings
Sao Tome and Principe performs most strongly in Safety & Security and Personal Freedom but is weakest in Investment Environment. The biggest improvement compared to a decade ago came in Economic Quality.

7. Namibia

Namibia’s prosperity is rooted in its commitment to economic diversification and sustainable development. The country has harnessed its natural resources, including minerals and tourism, to drive economic growth. Namibia’s stability and effective governance have played a crucial role in its journey toward prosperity.

Pillar Rankings
Namibia performs most strongly in Governance and Personal Freedom but is weakest in Health. The biggest improvement compared to a decade ago came in Safety & Security.

8. Morocco

Morocco’s strategic location, coupled with its efforts in economic diversification, has positioned it as a prosperous nation in Africa. The country has invested in sectors like agriculture, renewable energy, and tourism, contributing to its overall economic well-being. Morocco’s stable political environment and infrastructure development have attracted international businesses and investors.

Pillar Rankings
Morocco performs most strongly in Safety & Security and Market Access & Infrastructure but is weakest in Social Capital. The biggest improvement compared to a decade ago came in Safety & Security.

9. Ghana

Ghana’s sustained economic growth and stable political climate have propelled it into the ranks of Africa’s prosperous nations. The country’s commitment to good governance, coupled with investments in agriculture, oil, and technology, has played a crucial role in its prosperity.

Pillar Rankings
Ghana performs most strongly in Personal Freedom and Governance but is weakest in Economic Quality. The biggest improvement compared to a decade ago came in Social Capital.

10. Tunisia

Tunisia, with its strategic location on the Mediterranean coast, has made significant strides in economic development. The country has diversified its economy, focusing on industries such as manufacturing, services, and tourism. Tunisia’s efforts in fostering a business-friendly environment and implementing economic reforms have contributed to its prosperity.

Pillar Rankings
Tunisia performs most strongly in Governance and Living Conditions but is weakest in Natural Environment. The biggest improvement compared to a decade ago came in Personal Freedom.

Top 20 Most Prosperous Countries in Africa, 2024