Africa is a continent with an abundance of natural resources. It is home to many of the world’s poorest countries, as well as some of the richest. In this article, we will be looking at the top 20 richest countries in Africa, based on GDP per capita.
The Top 20 Richest Countries in Africa and Their Main Contributors
1. Seychelles
Seychelles is an archipelago nation located off the coast of East Africa. It is one of the smallest countries in Africa, with a population of just over 90,000. Seychelles has a GDP per capita of $28,252, making it the richest country in Africa.
The major contributor to Seychelles’ economy is tourism, with over a million visitors each year. The country’s tropical climate and pristine beaches make it a popular destination for honeymoons and vacations.
Furthermore, Seychelles’ offshore banking sector is another driver of economic growth. The country has become a popular destination for wealthy individuals and corporations seeking to avoid taxes.
2. Mauritius
Mauritius is an island nation located off the coast of southeastern Africa. It has a population of over 1.3 million people and a GDP per capita of $23,829.
The Mauritian economy is heavily reliant on tourism, with over 1 million visitors each year. The country’s tropical climate and beautiful beaches make it a popular destination for honeymoons and vacations. Furthermore, the Mauritian government has implemented policies to attract foreign investment, which has helped to spur economic growth.
3. Botswana
Botswana is a landlocked country located in southern Africa. It has a population of just over 2 million people and a GDP per capita of $22,183.
The Botswanan economy is driven by the mining sector, which accounts for over 80% of export earnings. Diamonds are the main mineral resource mined in Botswana, and the country is the world’s largest producer of gem-quality diamonds.
Furthermore, Botswana has one of the highest per capita incomes in Africa, due to its strong economic growth and fiscal discipline. The country has also been relatively unaffected by the political and economic turmoil that has plagued much of Africa.
4. Gabon
Gabon is a Central African country with a population of just over 2 million people. It has a GDP per capita of $20,266.
Gabon’s economy is driven by the oil sector, which accounts for over 80% of export earnings and 60% of government revenues. The country is Africa’s fourth largest producer of crude oil, and its reserves are estimated to be worth $1 trillion.
In addition to oil, Gabon also has significant reserves of forests and minerals. The country is the world’s leading producer of manganese, and it also produces timber, uranium, and gold.
5. Cape Verde
Cape Verde is an island nation located off the coast of West Africa. It has a population of 568,629 and a GDP per capita of $19,813.
Cape Verde’s economy is driven by the tourism and fishing sectors. The country’s mild climate and beautiful beaches make it a popular destination for vacations and holidays. Fish is also an important export commodity, and Cape Verde is one of the world’s leading exporters of tuna.
6. Algeria
Algeria is a North African country with a population of over 40 million people. It has a GDP per capita of $18,146.
The Algerian economy is driven by the oil and gas sector, which accounts for over 60% of export earnings and 95% of government revenues. Algeria is Africa’s largest producer of crude oil, and its reserves are estimated to be worth $1.5 trillion.
In addition to oil and gas, Algeria also has significant reserves of minerals and metals. The country is the world’s leading producer of iron ore, and it also produces copper, lead, zinc, and silver.
7. Namibia
Namibia is a southwestern African country with a population of 2.3 million people. It has a GDP per capita of $16,792. It is the second least densely populated sovereign state in the world, after Mongolia.
The Namibian economy is driven by the mining sector, which accounts for over 50% of export earnings and 20% of government revenues. Diamonds are the main mineral resource mined in Namibia, and the country is the world’s third largest producer of gem-quality diamonds.
In addition to diamonds, Namibia also has significant reserves of uranium, zinc, and copper. Furthermore, the country’s coastal location gives it access to rich fishing grounds, and fish is an important export commodity.
Namibia is known to have a small population and a low GDP per capita, but it is also one of the world’s most unequal countries. Nearly 70% of Namibia’s wealth is owned by the top 10% of the population, while the bottom 40% own less than 1%.
8. Mauritius
Mauritius is an island nation located in the Indian Ocean off the coast of East Africa. It has a population of 1.3 million people and a GDP per capita of $15,977.
The Mauritian economy is driven by the tourism, manufacturing, and financial services sectors. The country’s tropical climate and beautiful beaches make it a popular destination for vacations and holidays. Furthermore, Mauritius has developed into a hub for offshore banking and finance.
9. Libya
Libya is a North African country with a population of 6.4 million people. It has a GDP per capita of $15,853.
The Libyan economy is driven by the oil sector, which accounts for over 95% of export earnings and 80% of government revenues. Libya has Africa’s largest proven reserves of crude oil, and its production is estimated to be worth $1 trillion.
In addition to oil, Libya also has significant reserves of natural gas. The country is the continent’s second-largest producer of natural gas, and its production is estimated to be worth $700 billion.
10. Tunisia
Tunisia is a North African country with a population of 11.4 million people. It has a GDP per capita of $13,788.
The Tunisian economy is driven by the manufacturing, tourism, and agriculture sectors. Manufacturing accounts for approximately 25% of export earnings, while tourism contributes around 10%.
Tunisia’s agricultural sector is diverse and includes the production of olives, wheat, barley, citrus fruits, tomatoes, and wine. The country is also the world’s leading producer of dates.
11. Botswana
Botswana is a landlocked country located in southern Africa. It has a population of 2.2 million people and a GDP per capita of $13,131.
The Botswanan economy is driven by the mining sector, which accounts for over 80% of export earnings and 30% of government revenues. Diamonds are the main mineral resource mined in Botswana, and the country is the world’s leading producer of gem-quality diamonds.
In addition to diamonds, Botswana also has significant reserves of copper, nickel, gold, and coal. The country also has a large livestock sector, and beef is an important export commodity.
12. Egypt
Egypt is a North African country with a population of 92 million people. It has a GDP per capita of $12,456.
The Egyptian economy is driven by the agriculture, manufacturing, and tourism sectors. Agriculture accounts for approximately 21% of GDP, while manufacturing contributes around 14%.
Tourism is a vital part of the Egyptian economy, and the country is home to some of the world’s most famous historical sites, such as the Great Pyramids and the Sphinx. In addition, Egypt’s sunny climate and Red Sea beaches make it a popular destination for vacations and holidays.
13. Morocco
Morocco is a North African country with a population of 35 million people. It has a GDP per capita of $11,929.
The Moroccan economy is driven by the agriculture, manufacturing, and tourism sectors. Agriculture accounts for approximately 16% of GDP, while manufacturing contributes around 22%.
Tourism is an important part of the Moroccan economy, and the country is home to a number of historical and cultural attractions, such as the medina of Marrakesh and the Hassan II Mosque. In addition, Morocco’s coastal location gives it access to a number of popular beach resorts.
14. Algeria
Algeria is a North African country with a population of 40 million people. It has a GDP per capita of $11,519.
The Algerian economy is driven by the oil and gas sector, which accounts for over 95% of export earnings and 60% of government revenues. Algeria has Africa’s largest reserves of natural gas, and its production is estimated to be worth $1 trillion.
In addition to oil and gas, Algeria also has significant reserves of iron ore, zinc, lead, and copper. The country’s agricultural sector is also diversified and includes the production of wheat, barley, oats, grapes, oranges, lemons, tomatoes, potatoes, and beef.
15. Nigeria
Nigeria is a West African country with a population of 182 million people. It has a GDP per capita of $11,271.
The Nigerian economy is driven by the oil sector, which accounts for over 95% of export earnings and 80% of government revenues. Nigeria is Africa’s largest oil producer, and its production is estimated to be worth $600 billion.
In addition to oil, Nigeria also has significant reserves of coal, iron ore, tin, and columbite. The country’s agricultural sector is also diversified and includes the production of rice, yams, maize, millet, sorghum, peanuts, cocoa beans, palm kernels, and rubber.
16. Ghana
Ghana is a West African country with a population of 27 million people. It has a GDP per capita of $10,890.
The Ghanaian economy is driven by the agriculture and mining sectors. Agriculture accounts for approximately 36% of GDP and employs over 60% of the workforce, while mining contributes around 5%.
Ghana is a leading producer of gold, and the country also has significant reserves of bauxite, manganese, and diamonds. The country’s agricultural sector is also diversified and includes the production of cocoa beans, coffee, rice, millet, sorghum, yams, and cotton.
17. Angola
Angola is a Southern African country with a population of 24 million people. It has a GDP per capita of $10,772.
The Angolan economy is driven by the oil sector, which accounts for over 95% of export earnings and 70% of government revenues. Angola is Africa’s second-largest oil producer after Nigeria, and its production is estimated to be worth $400 billion.
In addition to oil, Angola also has significant reserves of diamonds, iron ore, copper, manganese, and uranium. The country’s agricultural sector is also diversified and includes the production of coffee, sugarcane, maize, tobacco, cassava, bananas, and pineapples.
18. Sudan
Sudan is a North African country with a population of 40 million people. It has a GDP per capita of $10,752.
The Sudanese economy is driven by the agriculture and oil sectors. Agriculture accounts for approximately 30% of GDP and employs over 70% of the workforce, while oil contributes around 90% of export earnings.
Sudan has Africa’s third largest reserves of oil, and its production is estimated to be worth $200 billion. In addition to oil, Sudan also has significant reserves of gold, iron ore, and copper. The country’s agricultural sector is also diversified and includes the production of cotton, peanuts, sesame seeds, sorghum, millet, and wheat.
19. Tunisia
Tunisia is a North African country with a population of 11 million people. It has a GDP per capita of $10,345.
The Tunisian economy is driven by the agriculture and manufacturing sectors. Agriculture accounts for approximately 15% of GDP and employs over 30% of the workforce, while manufacturing contributes around 25%.
Tunisia is a leading producer of olives and olive oil, and the country also has significant reserves of iron ore, phosphates, and zinc. The country’s agricultural sector is also diversified and includes the production of wheat, barley, oats, grapes, oranges, tomatoes, potatoes, and beef.
20. Morocco
Morocco is a North African country with a population of 34 million people. It has a GDP per capita of $9,874.
The Moroccan economy is driven by the agriculture and tourism sectors. Agriculture accounts for approximately 16% of GDP and employs over 40% of the workforce, while tourism contributes around 10%.
Morocco is a leading producer of phosphate rock, and the country also has significant reserves of copper, zinc, lead, and cobalt. The country’s agricultural sector is also diversified and includes the production of wheat, barley, oats, citrus fruits, olives, tomatoes, potatoes, and sheep.
