TOP 10 RICHEST COUNTRIES IN AFRICA BASED ON GDP PER CAPITA

Top 10 Richest Countries In Africa Based On GDP Per Capita {Updated To Top 20}

Welcome to Africa, the 2nd largest continent in the world in terms of land mass. An extremely colourful place, full of wildlife and endowed with so many natural resources. Africa is green but incomplete without the desert to the north. Full of many cultures, traditions, and interesting languages, Africa is home to the majority of black people in the world. But Africa is not so awesome in every other way, being home to some of the poorest people, races, and nations of the world. Interesting fact about Africa, in one of the countries in Africa we have the world 5th richest man, richest woman in the world, best players just to mention in few. Africa is not entirely backward because of the presence of some countries. Follow me as I take you on a tour through the top 20 richest countries in Africa, based on GDP per capita.

Top 20 Richest Countries In Africa Based On GDP Per Capita

 

  • 1. SEYCHELLES 

    • GDP per capita: $13963.60
Seychelles - Which Country Is The Richest In Africa

Seychelles

Topping our list for the first time is a small island located in the Indian ocean. With a population that is less than 200,000 inhabitants, this small nation is the richest African nation owing to its fishing and tourism industries. This country as small as it is, it is having the most stable, and best economy in the whole of Africa, this is own to her well-planned income from abroad, a well-structured and less corrupt countries, her citizen enjoy the benefit of good government and respect to that, they work more on fishing in which they are taking the advantages of Indian ocean close to the country, fish has been exported overtimes in which this is putting smile on their GDP on yearly basis.  More also, with beautiful artifacts, cool and nice serene has helped the country to attract tourist which is adding value to their GDP.

 

  • 2. EQUATORIAL GUINEA 

    • GDP per capita: $12028.60
Equatorial Guinea-Malabo

Equatorial Guinea-Malabo

One of the luckiest nations on the continent, Equatorial Guinea “second on our list of richest countries in Africa” is a small nation with a small population with a large oil reserve. Owing greatly to the exportation of oil and better management than most African countries, Equatorial Guinea is the second richest African nation. With a few populations, Equatorial Guinea is a country leading other Africa country excluding Seychelles in term of economic stability and GDP per capita. A purposeful and well-mined exploration of the gift of nature deposited into this country has helped the economy of the country. With few practices of corruption, the GDP rises quarterly which denotes a well manage financial funds.

 

  • 3. MAURITIUS  

    • GDP per capita: $9812.50

MAURITIUS Richest African Countries Top 10

Arguably Africa’s most developed nation, Mauritius is the third richest African nation. Essentially due to favorable government policies, this nation has an economy that thrives on the textile industry as well as sugar production and tourism. This country has done more exploit in the textile industry, a well-structured and good-looking environment which was pre-planned and well-organized plans of the government to make available environment and country attracted to investors, which is undoubted has added to the value of this nation in every retrospect.

 

  • 4. GABON 

    • GDP per capita: $9569.50
GABON Libreville

GABON Libreville

Gabon is an East African nation that is not densely populated. Owing to its large oil deposits, Gabon is one of the world’s largest oil explorer, miner, and exporter. Developed countries and neighboring Africa countries have been hovering around this country due to her inherent deposit of natural resources, her GDP has been increased owing to large shares and finances coming from countries outside Africa to invest in the oil and gas business in this country, which Is more predominate among the top Africa Countries.

 

  • 5. SOUTH AFRICA 

    • GDP per capita: $7504.30
Top 10 Richest Countries In Africa

South Africa – Richest Countries In Africa

With a properly diversified economy, SA is one of the countries with the most developed economies on the continent. SA was Africa’s largest economy until it was recently displaced by Nigeria. South Africa boasts of developed tourism, mining, media and agricultural industries. This puts them comfortably at number five on this list. Media and tourism have been the major focal point of many governors in the country, the accommodating and amazing parks, natural artifacts, tourist center have driven more revenue to the country.

 

  • 6. BOTSWANA 

    • GDP per capita: $7383.30

Once ranked among the poorest nations in the world, Botswana is now having one of the fastest growing economies on the planet. Owing all its economic powers to the mining and exportation of diamonds, Botswana is the second largest diamond producer in the world. This puts them at number six on this list of richest countries in Africa. Due to the result of poor management and corrupt practices, Botswana GDP fell to the least and ranked them the poorest country some years back, as a result of change in government, less corrupt practices, deliberate use of manpower in a manner of generating more income, natural deposit of coal which serves as raw material for diamond, has placed this country at a focal point of the most rapid and fast-growing nation with a good practices.

 

 

  • 7. NAMIBIA 

    • GDP per capita: $6020.90

With an economy based heavily on mineral mining and exportation. Namibia is the world’s largest producer of uranium. With inputs from diamond exportation and with a population of fewer than 3 million people, Namibia a South African nation, is the 7th richest country in Africa. Population density which always served as a deterring factor to economic growth was totally absent in Namibia, production of raw material for nuclear equipment, explosive and other ammunition, in which most developed countries invest in preparation for III world war. This has increased the GDP of this small country but in stature and economy well developed.

 

  • 8. LIBYA 

    • GDP per capita: $5449.03

There’s not much to say about this north African nation. They are an oil exporting giant and owe their position on this list to the abundance of this mineral. The then president (Gadaffi) has really to see stable and goo economy been witnessed by the citizen today. The major source of this country has lie solely on the exportation of oil and its derivatives.

 

  • 9. ALGERIA 

    • GDP per capita: $4846.40

Located in the northern parts of the continent, Algeria has the second-best economy in the region. With an energy industry contributing more than 90% of the GDP, especially from exports of fossil fuels, Algeria is the 9th richest country in Africa.  Fossil fuels are adopted in biogas and as a result of different countries working tirelessly on how to generate power from fossil fuels and biogas, the demand for this has been high which pave way for the economic growth of the country

 

  • 10. TUNISIA 

    • GDP per capita: $4265.40

With a very vibrant economy making over $100 billion in gross domestic value, Tunisia is the 10th on this list of richest countries in Africa. Making them the third richest country in North Africa. As part of the good economy experienced by the citizens, the rate of unemployment is at its lowest and barest minimum.

 

  • 11. SWAZILAND 

    • GDP per capita: $3911.40

Completely landlocked by South Africa, Swaziland makes the 11th position basically due to its agricultural industry. With less than 2 million people, Swaziland is heavily dependent on subsistence farming. As a country who has no seaport, where goods can be imported or exported by sea, this has placed them at the 11th position, as this country believes in economic diversification but due to natural phenomenon.

 

  • 12. ANGOLA 

    • GDP per capita: $3606.60

Known for their oil, Angola is the second largest oil producer on the continent. Angola also enjoys inputs from the agriculture and mining industries but has an economy that is predominantly based on oil exportation.

 

  • 13. MOROCCO 

    • GDP per capita: $3196.00

Also, predominantly a white population, Morocco is a north-eastern country known for its exports of fertilizer inputs. This country has also made a name for itself in the tourism sector and rakes in a lot of income from agriculture and the textile industry. They came in thirteenth on this list. Most Africa countries depend on the fertilizers from Morocco to fertilize their farmland, most developed countries also import fertilizer from Morocco

 

  • 14. DEMOCRATIC REPUBLIC OF THE CONGO 

    • GDP per capita: $2798.10

Formally known as Zaire, DR Congo is a heavily populated African nation, with more than 75 million occupants. The Congo is generally considered to be blessed with abundant natural resources even though more 50% of these resources remain untapped. This nation comes in at the fourteenth position mainly due to the income generated from the exports of its abundant mineral resources. Due to low technological advancement, and lack of technical know-how, this country has continually maintained this position, there is a record of poor diversification o the economy and judicious use of available natural resources.

  • 15. Cape Verde 

    • GDP per capita: $2738.31

Officially called the Republic of Cabo Verde, this little nation is located in the mist of the Atlantic Ocean. With a population of less than a million occupants, Cape Verde makes the fifteenth position on this list of richest countries in Africa. As beautiful as this country is, it also acts as center of tourism to many outside the shore of the country.

 

  • 16. EGYPT 
    • GDP per capita: $2724.40

With a predominantly white population, Egypt is located at the northeast corner of Africa. Historically home to one of the very first civilizations, Egypt’s economy depends heavily on tourism as well as agriculture, media and natural gas.  

  • 17. NIGERIA 

    • GDP per capita: $2457.80

Popularly known as the giant of Africa, Nigeria has the largest economy on the continent. Plagued with an ever-rising population, the Nigerian economy has failed to properly diversify from the influence of oil exploration and exportation.

  • 18. UGANDA 

    • GDP per capita: $1713.90

Uganda; a landlocked country located in East Africa is multilingual with more than 5 languages spoken within its borders. With an economy based heavily on the export of oil, maize, base metals, tea and others, the country has experienced constant economic growth and has finally made this list for the first time. Coming 19th on this list, Uganda is also home to Lake Victoria, the 2nd largest pure water lake in the world.

 

  • 19. SUDAN 

    • GDP per capita: $1923.00

Sudan is also known as North Sudan is a country in the northern parts of the continent. It is divided into east and west by the Nile river and has almost 40 million inhabitants. Sudan used to be very oil rich until the independence oil-rich South Sudan. Sudan is blessed with arable soil and so agriculture employees over 80% of its population. The effect of oil exports on its economy brings North Sudan at number eighteen on this list.

  • 20. GHANA 

    • GDP per capita: $1707.70

With more than 28 million people living within its borders, Ghana is one of the most populated African nations. Abundant with natural resources like gold and internationally known as the 2nd largest producer of cocoa, Ghana made our top 20 richest countries in Africa 2018. Ghana economy has over time survive the attack the world economic forces are pulling on her due to her large area of investment, conducive environment for investors, reduction in the rate of corruption, Ghana was recorded to be one of the Africa countries that is less corrupt. Ranges from Hollywood, music industry, textile industry, the production rate of raw material in top notch was recorded, this has added value to their gross domestic point and this places them in the top list of the richest Africa countries.

Read Also: 

Top 20 Richest Countries In Africa Based On GDP Per Capita

CONCLUSION

With a thorough exegesis we have done to the list of the richest countries in Africa in regards to their GDP, we can see Africa Countries depend majorly on the natural resources which are the oil deposit and farming, these two has really helped the continent called Africa, country on the top list are observed to be majorly countries with less population and good economy plan. Most countries made the list as a result of good governance and less corrupt leaders. Predominantly among the leaders of most countries are those that have less or no qualification in resources management and related field more reasons most Africa countries has been stagnated and unable to diversify the economy.

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