Currently, Equatorial Guinea is the richest country in Africa, with a per capita income of $34,865. On top of this, Mauritius offers not just free education but also free universal healthcare for its citizens, meaning that in a sense, it is an interesting reminder of what the future could hold for Africa as African countries continue to resolve their issues. The prevailing favourable microeconomic environment that was witnessed from 2018-2019 was a huge driver in this growth. Over the last forty years, the country has been quite dependent on oil to sustain its economy. South Africa. The economic disparity among South Africa’s population is primarily a result of the apartheid regime in the country which ended in 1994. For proof, these are the 10 richest countries in Africa listed by World Atlas, which in turn, is using data on GDP per capita from the International Monetary Fund for 2017: The Republic of Namibia came into existence in 1990. … The last country on our list and the richest country in Africa in terms of per capita income is Equatorial Guinea. Equatorial Guinea used to be under the control of the Spanish before earning their independence in 1968. A large number of Egyptians also work abroad. Much of Tunisia’s economy has longtime been dependent on industries such as oil, tourism, and automobile parts. Sadly, Africa has been neglected as a travel destination because of rumors regarding the lack of safe places to travel in Africa. Though the country is rich in resources, the people of the country have been exploited for decades and are poverty stricken. Algeria. Nigeria is currently the most highly populated country in Africa, with a population of more than 190 million inhabitants. Unfortunately, it doesn’t seem as though the country’s rulers are bothering to make a lot of improvements in this regard. The unemployment rate in Namibia is also high, at around 27.4%. With a per capita GDP of $11,528, it is the tenth richest country in Africa. The economy of Gabon centers around oil. Tourism is one of the biggest revenue generating industries in South Africa. Home » FEATURED » Top 10 richest countries in Africa (Updated 2019). South Africa is enlisted among the top 10 countries in the world for income inequality. All figures are from the 2017 International Monetary Fund data. The GDP of Norway ranks as the second-largest in the world. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. With the declining state of oil production in Gabon, it is still one of the highest producers of oil in sub-Saharan Africa. Regardless, while Africa is still struggling with a wide range of issues, there are some African countries that have managed better economic performances in recent decades than others. Although agriculture used to play an important role in the country’s economy, its important has shrunken. Top Richest Tribes in Africa 2019 – Current Update. In the present time, Egypt is struggling with various issues such as political instability and the drying up of the Nile, which are hindering it from reaching its true potential. The country is sparsely populated, with a population of around 2 million. Qatar is the richest country in the world in 2020 with a GDP per capita of 138.91 thousand international dollars. msn back to msn home africa. Mauritius is a true success in spite of the odds being stacked against it at the time of its independence. This is quite easy to believe because the country’s population is far below a million inhabitants while the GDP hovers around $2.4 billion. What Does it Cost to Stay in a Retirement Home? Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. But more recently, it is trying to diversify and branch out into many other areas so as to have a diversified economy. This is a list of List of Richest Countries In Africa as of 2020.Mauritius, Seychelles, and Equatorial Guinea are the richest countries in Africa according to the latest research. The economy of Egypt depends on agriculture, tourism, natural gas, and petroleum imports, as well as revenues from the Suez Canal. The list of Richest Billionaires in Africa 2019 as published by Forbes is out and Nigeria’s Aliko Dangote remains on top of the list.. Aliko Dangote, Richest Man in Africa This year’s list shows that the number of African billionaires shrunk to 20 down from 23 a year ago.