Top 20 Richest Countries In Africa (2024)

Seychelles, Mauritius, Gabon, Botswana, and Libya stand out as the top five richest countries in Africa in terms of GDP per capita. Seychelles and Mauritius flourish through their robust tourism and financial sectors, while Gabon and Libya derive substantial wealth from their abundant oil resources.

To see which countries have the most riches at their disposal, let’s look at the rundown of Africa’s top 20 richest countries by GDP per capita.

The list below compiles the top 20 richest countries in Africa according to their GDP per capita.

**GDP per capita is a measure of a country’s economic output that accounts for population. It divides the country’s gross domestic product by its total population. That makes it the best measurement of a country’s standard of living. It tells you how prosperous a country feels to each of its citizens.

20. Mauritania – (GDP per capita: $2,350)

Mauritania, located in West Africa, has a GDP per capita of $2,350. The country’s economy is primarily driven by its natural resources, including iron ore, petroleum, and fishing. However, despite its rich resource base, Mauritania faces significant challenges in terms of poverty and infrastructure development. The country’s arid climate also makes agriculture difficult, limiting its ability to diversify its economy.

19. Angola – (GDP per capita: $2,430)

Angola, one of Africa’s largest oil producers, has a GDP per capita of $2,430. Its economy is highly dependent on oil exports, which make up a significant portion of government revenues. Despite vast natural resources, Angola has faced economic challenges, including the need to rebuild after decades of civil war, corruption, and inequality. The country has been making efforts to diversify its economy, focusing on agriculture and infrastructure.

18. Republic of the Congo – (GDP per capita: $2,460)

The Republic of the Congo, also known as Congo-Brazzaville, has a GDP per capita of $2.460. It is rich in oil, which dominates its economy, along with timber and mining. The country faces challenges such as political instability, underdeveloped infrastructure, and a reliance on fluctuating oil prices. Despite these challenges, there is potential for growth, especially in its untapped agricultural and mining sectors.

17. Cote d’Ivoire – (GDP per capita: $2,720)

Côte d’Ivoire also known as Ivory Coast is a country located on the south coast of West Africa.

Cote d’Ivoire is the largest economy in the West African Economic and Monetary Union, constituting over 40% of the monetary union’s total GDP. The country is the world’s largest exporter of cocoa beans, and the fourth-largest exporter of goods in sub-Saharan Africa. It is the 17th richest country in Africa and the richest country in West Africa with a GDP per capita of $2,720.

16. Sao Tome and Principe – (GDP per capita: $3,170)

Sao Tome and Principe is acountry in central Africa, located on the Equator in the Gulf of Guinea. The country’s economy has historically been dependent on agriculture, and much of the total agricultural area of the two islands belongs to the state. It is the 16th richest country in Africa with a GDP per capita of $3,170.

15. Egypt – (GDP per capita: $3,220)

Egypt is a transcontinental country with territories stretching from Africa’s northeast corner to Asia’s southwest corner across the Sinai Peninsula. Egypt shares its borders with the Gaza Strip and Israel, the Red Sea, Gulf of Aqaba, Red Sea, Sudan, and Libya. Cairo is the capital of the country. It ranks fifteenth on this list of richest countries in Africa with a per capita GDP of $3,220.

The economy of Egypt depends on agriculture, tourism, natural gas, and petroleum imports, as well as revenues from the Suez Canal. A large number of Egyptians also work abroad. The remittances of these workers contribute to the wealth of the nation.

14. Morrocco – (GDP per capita: $4,080)

Morocco, officially the Kingdom of Morocco, is the northwestern most country in the Maghreb region of North Africa. It is the fourteenth richest country in Africa with a GDP per capita of $4,080.

13. Djibouti – (GDP per capita: $4,180)

Djibouti, is a mostly French and Arabic speaking country located in the Horn of Africa. Djibouti is the richest country in East Africa and the 13th richest country in Africa.

Djibouti’s economy is largely concentrated in the service sector. Commercial activities revolve around the country’s free trade policies and strategic location as a Red Sea transit point. The GDP Per capita income is around $4,180.

12. Eswatini – (GDP per capita: $4,320)

Eswatini is a landlocked country in Southern Africa. Eswatini’s economy is very closely linked to the economy of South Africa, from which it receives over 90% of its imports and to which it sends about 70% of its exports.

Eswatini’s economy is diverse, with agriculture, forestry and mining accounting for about 13% of GDP, manufacturing (textiles and sugar-related processing) representing 37% of GDP and services – with government services in the lead – constituting 50% of GDP. It ranks 12th on our list with a per capita GDP of $4,320.

11. Tunisia – (GDP per capita: $4,440)

Tunisia is a North African country bordering the Mediterranean Sea and Sahara Desert. The country has a per capita GDP of $4,440. Tunisia is the 11th richest country in Africa and the fourth richest country in North Africa.

10. Cabo Verde – (GDP per capita: $4,660)

Cabo Verde, also called Cape Verde, country comprising a group of islands that lie off the west coast of Africa. The country has a per capita GDP of $4,660, and is the 10th richest country in Africa.

Since the early 1990s, Cape Verde has been a stable representative democracy, and has remained one of the most developed and democratic countries in Africa. The economy of Cape Verde is service-oriented, with commerce, transport, and public services accounting for more than 70% of GDP. In 2008 the country graduated from Least Developed Country to Middle Income Country status.

9. Namibia – (GDP per capita: $4,750)

Namibia is located in Southern Africa. The country has a per capita GDP of $4,750, it is the ninth richest country in Africa. Mining, agriculture, manufacturing, and tourism all play large parts in the country’s economy. The country is sparsely populated, with a population of around 2 million.

8. Algeria – (GDP per capita: $5,720)

Algeria, the largest country in Africa, is located in the Northern part of the continent. It is the eighth richest country in Africa with a GDP per capita of $5,720. The country has a population of over 40 million. Like many countries on this list, it is considered by the World Bank to be an upper middle country.

7. South Africa – (GDP per capita: $5,970)

South Africa, the southernmost country on the African continent, is bordered by Namibia, Zimbabwe, Botswana, Swaziland, Lesotho, and Mozambique. The country has a mixed type of economy and has a relatively high GDP compared to other African countries. The country ranks seventh on the list with an average per capita income of $5,970.

6. Equatorial Guinea – (GDP per capita: $6,733)

Equatorial Guinea is a country located in Central Africa. It is relatively small, covering only around 10,830 square miles. The population measures at around 1,222,245. It is partly this low population that helps the GDP to remain relatively high. It comes in sixth place in the list of richest countries in Africa with a GDP per capita of $6,733.

5. Libya – (GDP per capita: $6,988)

Libya is a country in the Maghreb region in North Africa. Libya is the fourth largest country in Africa and is the 7th largest country in the world. Libya has the 10th-largest proven oil reserves of any country in the world. In the early 1980s, Libya was one of the wealthiest countries in the world; its GDP per capita was higher than some developed countries. Currently the country is ranked fifth in the list of richest countries in Africa with a GDP per capita of $6,988.

4. Botswana – (GDP per capita: $7,887)

Botswana is located in southern Africa. The country is known for its reputation as a stable democracy. It is the richest country in Southern Africa and the 4th richest country in Africa with a GDP per capita of $7,887.

3. Gabon – (GDP per capita: $9,310)

A Central African country, Gabon is located on the west African coast and is bordered by Equatorial Guinea, Cameroon, and the Republic of the Congo. Libreville is the capital and biggest city of the country. It ranks third on the list of richest Countries in Africa with an average GDP per capita of $9,310.

2. Mauritius – (GDP per capita: $12,970)

Mauritius is an island country located in the Indian Ocean off of the southeast coast of the African continent. Throughout its history, the country has been at times a Dutch colony, a French colony, and a British colony. It has been independent since 1968 and has a population of around 1.5 million. It is the second richest country in Africa with a GDP per capita of $12,970.

1. Seychelles – (GDP per capita: $21,880)

Seychelles is an island country found in the Indian Ocean. It is actually made up of around 115 small islands. With a population of less than 100,000, it has the tiniest population of any country in Africa. It ranks as the richest country in Africa, with a reported per capita GDP of $21,880. Seychelles is also the most developed country In Africa.

Top 20 Richest Countries In Africa (2024)

Top 20 Poorest Countries In Africa, 2024

Source: World Bank World Bank National Accounts Database.

Last modified in November 2024