Africa’s richest countries in 2024, based on World Bank nominal GDP per capita figures, reflect both progress and persistent disparities across the continent.
Despite persistent global and domestic pressures, from tighter financial conditions to fluctuating commodity prices, some African economies have sustained strong per-capita income levels.
These variations reveal how structural advantages, quality of governance, and sectoral performance continue to shape economic outcomes.
GDP per capita is a country’s gross domestic product (GDP) divided by its total population, representing the average economic output per person. It is used to assess a nation’s standard of living and economic development. A higher GDP per capita can indicate a higher standard of living, as it represents the average share of a country’s economic production for each resident.
Seychelles tops the list with a modest contraction from 2023, followed by Mauritius and Gabon. Taken together, the leading economies demonstrate the role of strategic planning, resource management, and macroeconomic stability in driving higher living standards.
Below are the African countries with the highest GDP per capita.
Namibia recorded a GDP per capita of $4,413.13 in 2024, reflecting a 5.39% increase from $4,187.61 in 2023. This steady growth highlights the country’s improving economic momentum, supported by rising mining output (particularly diamonds, uranium, and gold) alongside stronger performance in tourism and services.
The growth also benefits from Namibia’s continued investment in renewable energy and logistics infrastructure, which has helped strengthen external earnings and drive modest income gains. Despite structural challenges such as high unemployment, Namibia’s 2024 GDP per capita affirms its position among Southern Africa’s relatively stronger mid-income economies.
Cabo Verde achieved a GDP per capita of $5,272.85 in 2024, the highest growth rate in the group, with an 8.47% surge from $4,861.29 in 2023.
The sharp rise reflects robust tourism recovery, improved diaspora remittances, and strengthened service sector activity. Cabo Verde’s strong 2024 performance highlights its growing resilience as a small island economy, supported by stable governance and an outward-looking economic model.
Algeria recorded a GDP per capita of $5,631.18 in 2024, reflecting a 4.98% increase from $5,364.03 in 2023. The expansion is supported by firm energy prices, elevated gas exports to Europe, and steady government spending.
The country’s strong external buffers and hydrocarbon-driven earnings continue to push its GDP per capita upward, though diversification remains a long-term priority.
South Africa posted a GDP per capita of $6,253.37 in 2024, rising 3.83% from $6,022.54 in 2023. This improvement signals a gradual recovery driven by easing inflation, improved electricity supply stability, and stronger performance in finance, services, and mining.
However, structural constraints such as high unemployment and logistics bottlenecks continue to limit the pace of income growth.
Libya’s GDP per capita increased to $6,318.40 in 2024, up 2.36% from $6,172.81 in 2023. The improvement reflects relatively stable crude oil production amid intermittent political disruptions.
Despite ongoing governance and security challenges, Libya continues to benefit from strong hydrocarbon revenues, which keep its income levels among the highest in North Africa.
Despite ongoing governance and security challenges, Libya continues to benefit from strong hydrocarbon revenues, which keep its income levels among the highest in North Africa.
Equatorial Guinea recorded a GDP per capita of $6,745.40 in 2024, a slight 1.01% increase from $6,677.79 in 2023.
The marginal uptick reflects stabilized hydrocarbon production and cautious fiscal reforms aimed at reducing vulnerabilities. However, the country’s growth trajectory remains closely tied to oil market fluctuations, underscoring the ongoing need for diversification.
Botswana posted a GDP per capita of $7,695.24 in 2024, reflecting a –1.68% decline from $7,826.35 in 2023. The contraction highlights the impact of softer global diamond demand, Botswana’s key export, alongside domestic pressures stemming from inflation and weaker external revenue flows.
Despite the dip, the country maintains a strong macroeconomic foundation anchored by prudent fiscal management and a stable investment climate.
Gabon’s GDP per capita rose to $8,218.76 in 2024, representing a 1.83% improvement from $8,071.40 recorded in 2023. The modest growth reflects stability in the country’s oil output, modest gains in mining activity, and ongoing fiscal efforts to maintain macroeconomic balance.
While growth remains gradual, Gabon continues to rank among Africa’s richer nations due to its resource endowment and relatively small population.
Mauritius recorded a GDP per capita of $11,871.73 in 2024, marking a 6.17% increase from $11,182.19 in 2023. This solid expansion reflects the country’s sustained post-pandemic recovery, supported by strong tourism inflows, financial services growth, and rising private consumption.
The improvement underscores Mauritius’ position as one of Africa’s most diversified and stable upper-middle-income economies, with steady structural reforms continuing to cushion external risks.
In 2024, Seychelles remained the richest country in Africa with a GDP per capita of $17,858.82, despite recording a –2.21% contraction from the $18,262.71 posted in 2023. The slight decline points to mild economic headwinds during the year, likely linked to softer tourism activity, elevated import costs, and broader global financial tightening, pressures that small island economies tend to feel more intense.
Even so, Seychelles continues to maintain a wide lead over other African economies, supported by its strong service-driven structure, high-value tourism, and relatively stable macroeconomic environment. The 2024 figure underscores not only its resilience but also its consistently high standard of living compared with the rest of the continent.