Many African countries have seen steady economic growth, driven by sectors like oil, gas, mining, and telecommunications. Sub-Saharan Africa is home to half of the world’s fastest-growing economies. GDP per capita, calculated by dividing a country’s total GDP by its population, reflects a nation’s economic output per person.
In 2024, several African nations show strong GDP per capita, highlighting their economic progress. Read also: Five countries contribute to half of Africa’s $1.4 tn GDP According to the data from the International Monetary Fund comparing the GDP per capita of every African country in 2024, here are the top 10 African countries by GDP per Capita in 2024 Seychelles ranks as the highest in Africa, with a GDP per capita of $21,875 in 2024.
This small island nation, known for its tourism industry, has built a strong economy through luxury travel and services. Its natural beauty attracts millions of visitors annually, contributing significantly to its GDP. Mauritius has a GDP per capita of $12,973.
This island nation has successfully diversified its economy, moving beyond sugar and textiles to include financial services, tourism, and technology. Its strong governance and favourable business environment have made it an attractive destination for foreign investment. Read also: Top 10 largest economies of 2024 With a GDP per capita of $9,308, Gabon ranks third in Africa.
Gabon’s economy is driven by oil exports, along with manganese and timber. Despite it.