Richest African Countries 2023 - Wisevoter (2024)

Algeria

Algeria is the ninth richest country in Africa with a GNI per capita of $3,660. Its GDP per capita is $3,691, and its GDP is $163,044,400,000. Algeria is a member of the Organization of the Petroleum Exporting Countries (OPEC), and its economy is heavily dependent on its oil and gas sector, which accounts for more than 95% of its export revenue. It also has a well-developed agriculture sector, which contributes to its economy. Despite its wealth, Algeria faces economic challenges such as high youth unemployment and a need for diversification of its economy.

Angola

Benin

Botswana

Botswana is the sixth richest country in Africa, with a GNI per capita of $6,430. Botswana has a GDP per capita of $6,805 and a GDP of $17,614,790,000. Botswana's diamond industry has been a major contributor to the country's economic growth over the years, while its well-established infrastructure and stable political environment have made it an attractive destination for foreign investment. Additionally, the government has implemented policies to promote economic diversification, with a particular focus on the tourism sector.

Burkina Faso

Burundi

Cameroon

Cape Verde

Central African Republic

Chad

Comoros

Democratic Republic of the Congo

Djibouti

Egypt

Egypt is the thirteenth richest country in Africa with a GNI per capita of $3,350. Its GDP per capita is $3,699 and its GDP is $404,142,800,000. Egypt's economy is the largest in North Africa and the Middle East and is driven by a mix of services, manufacturing, and agriculture. Despite recent economic and political challenges, Egypt has maintained a relatively stable economy in recent years, with moderate growth rates and low inflation. The country has also implemented a number of economic reforms aimed at improving the business climate and attracting foreign investment.

Equatorial Guinea

Equatorial Guinea is the seventh richest country in Africa, with a GNI per capita of $5,150. Equatorial Guinea has a GDP per capita of $7,507 and a GDP of $12,269,390,000. Equatorial Guinea is considered one of the richest African countries due to its significant oil and gas reserves, which account for the majority of the country's export earnings. However, despite its natural resource wealth, Equatorial Guinea faces significant challenges related to poverty and inequality, as well as political instability and corruption.

Eritrea

Eswatini

Eswatini is the tenth richest country in Africa with a GNI per capita of $3,650. Its GDP per capita is $3,978, and its GDP is $4,743,340,000. Eswatini, formerly known as Swaziland, is a small landlocked country in Southern Africa. Its economy is largely dependent on its agriculture sector, specifically sugar, and forestry. It also has a growing manufacturing sector, including textiles and food processing. Eswatini has attracted foreign investment in recent years, but it still faces challenges such as high poverty and HIV/AIDS rates.

Ethiopia

Ethiopia is the thirty-fifth richest country in Africa with a GNI per capita of $940. Its GDP per capita is $925 and its GDP is $111,271,100,000. Ethiopia has one of the fastest-growing economies in Africa and is projected to become a middle-income country by 2025. The country has a large agriculture sector, which employs most of the population, and has recently been diversifying into manufacturing and services. Additionally, Ethiopia has significant natural resources, including gold, coffee, and hydropower. However, Ethiopia also faces challenges such as political instability, ethnic tensions, and limited infrastructure.

Gabon

Gabon is the fifth richest country in Africa, with a GNI per capita of $6,440. Gabon has a GDP per capita of $8,635 and a GDP of $20,216,840,000. Gabon is considered one of the richest African countries due to its significant oil reserves, which account for the majority of the country's export earnings. Gabon has also pursued policies to promote economic diversification and has made significant investments in infrastructure and human capital development.

Ghana

Ghana is the seventeenth richest country in Africa with a GNI per capita of $2,280. Its GDP per capita is $2,363 and its GDP is $77,594,280,000. Ghana's economy is one of the fastest-growing in Africa, driven by a mix of services, manufacturing, and agriculture. The country has made significant progress in reducing poverty and improving human development indicators in recent years. Ghana has also implemented a number of economic reforms aimed at improving the business climate and attracting foreign investment.

Guinea

Guinea-Bissau

Ivory Coast

Kenya

Kenya is the nineteenth richest country in Africa with a GNI per capita of $2,080. Its GDP per capita is $2,082 and its GDP is $110,347,100,000. Kenya has a relatively diversified economy with agriculture, manufacturing, and services being its major sectors. The country is the leading tea and horticultural producer in the region and has a large tourism industry. Additionally, Kenya has a rapidly growing technology sector and is considered one of the top innovation hubs in Africa. However, despite its wealth, Kenya faces challenges such as high levels of unemployment, poverty, and inequality, as well as political instability and security threats.

Lesotho

Liberia

Libya

Libya is the third richest country in Africa, with a GNI per capita of $8,700. Libya has a GDP per capita of $6,357 and a GDP of $42,817,470,000. Libya's rich oil and gas reserves, coupled with its well-established infrastructure, have enabled it to develop a highly industrialized economy. Despite political instability and conflict in recent years, the country has maintained a significant level of economic activity and remains an important player in the global energy markets.

Madagascar

Malawi

Mali

Mauritania

Mauritius

Mauritius is the second richest country in Africa, with a GNI per capita of $9,920. Mauritius has a GDP per capita of $9,106 and a GDP of $11,529,040,000. The country is considered one of the richest African countries because of its highly diversified and thriving economy, supported by sectors such as financial services, tourism, and manufacturing. The country's government has pursued pro-business policies, and has implemented a range of initiatives to support entrepreneurship and innovation.

Morocco

Morocco is the eleventh richest country in Africa with a GNI per capita of $3,620. Its GDP per capita is $3,795 and its GDP is $142,866,300,000. Morocco's economy is diversified and relatively open to foreign trade and investment. Its major industries include agriculture, tourism, and manufacturing. Morocco has made significant progress in economic and social development in recent years, with poverty rates declining and human development indicators improving. The country has also implemented economic reforms aimed at attracting foreign investment and improving the business climate.

Mozambique

Namibia

Namibia is the eighth richest country in Africa with a GNI per capita of $4,650. Its GDP per capita is $4,866, and its GDP is $12,310,600,000. Namibia's economy is heavily dependent on its mining sector, specifically diamonds, uranium, and other minerals. It has a stable legal and political environment, making it an attractive destination for foreign investment.

Niger

Nigeria

Nigeria is the twentieth richest country in Africa with a GNI per capita of $2,080. Its GDP per capita is $2,066 and its GDP is $440,833,600,000. Nigeria has the largest economy in Africa and is heavily dependent on oil exports. Despite this, the country has made significant progress in diversifying its economy in recent years, with growth in non-oil sectors such as agriculture, manufacturing, and services. Nigeria also has a large and growing consumer market, with a young and increasingly urban population. However, the country also faces a number of economic challenges, including high levels of poverty and inequality, and an unstable business environment.

Republic of the Congo

Rwanda

São Tomé and Príncipe

Senegal

Seychelles

Seychelles is the richest country in Africa, with a GNI per capita of $14,540. It has a GDP per capita of $14,653 and a GDP of $1,454,460,000. Seychelles is considered one of the richest African countries due to its thriving tourism industry, as well as its strong financial sector and well-established infrastructure. The country's government has implemented policies to promote economic growth, resulting in a stable and prosperous economy.

Sierra Leone

Somalia

Somalia is the thirty-third richest country in Africa with a GNI per capita of $430. Its GDP per capita is $447 and its GDP is $7,628,000,000. Somalia is one of the poorest and most unstable countries in Africa, with a protracted conflict that has lasted for decades. The country has a large informal economy, with agriculture and livestock being the main sources of livelihood for most of the population. Additionally, Somalia has significant natural resources, including oil and gas, but has not been able to exploit them due to insecurity and lack of infrastructure. The country also faces challenges such as high levels of poverty, unemployment, and limited access to basic services such as healthcare and education.

South Africa

South Africa is the fourth richest country in Africa, with a GNI per capita of $6,530. South Africa has a GDP per capita of $7,055 and a GDP of $419,015,000,000. South Africa is considered one of the richest African countries due to its highly developed industrial and service sectors, supported by a well-established infrastructure and a large, skilled workforce. The country is also rich in mineral resources, including gold, diamonds, and platinum, which have helped to drive economic growth over the years.

South Sudan

Sudan

Tanzania

The Gambia

Togo

Tunisia

Uganda

Western Sahara

Zambia

Zimbabwe

What is the richest country in Africa ?

The richest country in Africa is Seychelles, with a GNI per capita of $14,540.

Is South Africa the richest country in Africa ?

No, South Africa is not the richest country in Africa. It is the fourth richest country in Africa, with a GNI per capita of $6,530.

Is Nigeria the richest country in Africa ?

No, Nigeria is not the richest country in Africa. It is the twentieth richest country in Africa based on its GNI per capita of $1,970. Based on GDP however, Nigeria is the richest country in Africa with a GDP of $440,833,600,000.