Despite facing severe challenges, several African countries have made significant progress in boosting their GDP per capita. According to the World Bank, “GDP per capita is the sum of gross value added by all resident producers in the economy plus any product taxes (less subsidies) not included in the valuation of output, divided by mid-year population.”
greater GDP per capita in African countries translates directly into greater living conditions. When governments have additional financial resources, they can spend in infrastructure, healthcare, and education to increase access to fundamental services and promote overall well-being.
More disposable income allows people to pay for better housing, healthcare, and education, promoting social mobility and improving health outcomes.
Furthermore, a high GDP per capita has an impact on other sectors of the economy, including investments in cutting-edge infrastructure such as telecommunications, energy, and transportation networks.
According to the International Monetary Fund, the following African countries have the greatest GDP per capita as of 2024.
| Rank | Country | GDP per capita |
|---|---|---|
| 1. | Seychelles | 44.06 thousand |
| 2. | Mauritius | 31.16 thousand |
| 3. | Libya | 26.53 thousand |
| 4. | Botswana | 20.31 thousand |
| 5. | Gabon | 19.87 thousand |
| 6. | Egypt | 17.79 thousand |
| 7. | Equatorial Guinea | 17.74 thousand |
| 8. | South Africa | 16.63 thousand |
| 9. | Algeria | 14.23 thousand |
| 10. | Tunisia | 13.69 thousand |