Here are the richest countries in Africa | Africanews (2024)

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Here are the richest countries in Africa | Africanews? ›

It is Nigeria, a country in West Africa, which stands out as the most powerful economy on the continent. With a GDP estimated at $477 billion in 2022, Nigeria is at the top of the ranking of the richest African countries, ahead of Egypt and South Africa.

Of Africa's 54 countries, Seychelles currently stands as the richest with a GDP per capita (PPP) of $43,151, in international dollars, as per the 2024 IMF report. Mauritius follows in second, with $32,094, Libya in third with $26,456, Botswana in fourth with $20,097 and Gabon in fifth with $19,452.

Johannesburg ranks as Africa's wealthiest city according to the 2024 Africa Wealth Report, a publication by Henley & Partners Johannesburg is home to 12,300 millionaires, 25 centi-millionaires, and two billionaires. Holding the second spot is another South African city, Cape Town.

Nigeria sits in 3^rd place with 8,200 HNWIs, followed by Kenya (7,200 millionaires), Morocco (6,800), Mauritius (5,100), Algeria (2,800), Ethiopia (2,700), Ghana (2,700), and Namibia (2,300) all making it into the Top 10 Wealthiest Countries in Africa.

South Africa ranks sixth, with a GDP per capita of $6,140, behind Botswana ($7,640), Equatorial Guinea ($6,660) and Libya ($6,580). In half of these countries (Gabon, Equatorial Guinea, Libya), the economy remains highly dependent on oil revenues.

The African continent is no doubt the most resource-abundant continent. Resources such as gold, diamond, oil, natural gas, copper, uranium, among others are mined in different parts of the continent. Almost every country in Africa has a deposit of natural resources.

Looking at the data in terms of cities, then South Africa's Johannesburg comes first as the place with most HNWIs in Africa, with 12,300 millionaires, 25 centi-millionaires and 2 billionaires, followed by Cape Town with 7,400 millionaires, 28 centi-millionaires and 1 billionaire.

Safest countries in Africa 2024

In 2024, Rwanda was the safest country in Africa. It had a score of roughly 73.2 points in the safety index, making it the African nation with the lowest crime incidents and the only country with high safety levels - over 60 index points.

Despite its rich endowment of resources, including oil and minerals, the nation struggles with staggering levels of poverty. Recent data from the World Bank paints a sobering picture: out of a population exceeding 200 million, over 104 million Nigerians live below the poverty line.

What is the poorest country in the world? ›

Referred to as the “Giant of Africa,” Nigeria is the most populous country on the continent with more than 60 percent of its population under 25 years of age. Nigeria has one of the largest economies in Africa and a population of an estimated 190 million people – all of which represents tremendous potential.

The official languages of Botswana are English and Tswana. English - Inherited from colonial rule and is used for official business and most written communication. Tswana - The language of the Tswana people—Setswana—is a country's national language, and is spoken by most of the population.

More than 70% of the population of Botswana is Christian. Most are members of the Anglican, United Congregational Church of Southern Africa, the Methodist Church of Southern Africa, and African independent churches. Anglicans are part of the Church of the Province of Central Africa.

GDP per capita in Botswana

Botswana had a GDP per capita of USD 7,735 in 2022, compared to USD 6,439 a decade earlier.