Richest Countries in Africa
Africa's largest economies by nominal GDP, and the richest countries per person.
Last updated: September 2026
By total output, South Africa and Egypt are Africa's largest economies, each with a nominal GDP of roughly $400 billion in 2024, followed by Algeria and Nigeria. Per person, the richest African countries are Seychelles and Mauritius. The ranking changes from year to year because it is measured in US dollars and several currencies (the Nigerian naira, Egyptian pound and Ethiopian birr) have fallen sharply since 2023.
Largest Economies in Africa (Nominal GDP)
| Rank | Country | GDP 2024 (approx.) | Region |
|---|---|---|---|
| 1 | South Africa | ~$400B | Southern Africa |
| 2 | Egypt | ~$390B | North Africa |
| 3 | Algeria | ~$265B | North Africa |
| 4 | Nigeria | ~$250B | West Africa |
| 5 | Morocco | ~$155B | North Africa |
| 6 | Ethiopia | ~$145B | East Africa |
| 7 | Kenya | ~$125B | East Africa |
| 8 | Côte d'Ivoire (Ivory Coast) | ~$85B | West Africa |
| 9 | Angola | ~$85B | Central Africa |
| 10 | Tanzania | ~$80B | East Africa |
| 11 | Ghana | ~$75B | West Africa |
| 12 | DR Congo (Democratic Republic of the Congo) | ~$70B | Central Africa |
| 13 | Uganda | ~$55B | East Africa |
| 14 | Cameroon | ~$50B | Central Africa |
| 15 | Tunisia | ~$50B | North Africa |
Approximate 2024 nominal GDP in current US dollars, based on IMF World Economic Outlook estimates and rounded. Values for countries with recent devaluations or GDP rebasing (Nigeria revised its GDP statistics in 2025) should be treated as indicative; check the latest IMF release for exact figures.
Richest Countries in Africa per Person
GDP per capita gives a very different picture. Seychelles has the highest nominal GDP per person in Africa (roughly $20,000), followed by Mauritius (roughly $12,000). A second group, with roughly $5,000 to $9,000 per person, includes Gabon, Botswana, Libya, South Africa, Equatorial Guinea and Algeria. Most of these are small countries with tourism, financial services, diamonds or oil.
What "Richest" Means
- Nominal GDP measures the size of an economy in US dollars. It favours large countries such as Nigeria and Egypt.
- GDP per capita divides output by population, a better guide to average income.
- PPP (purchasing power parity) adjusts for local prices. On a PPP basis, Egypt and Nigeria rank higher and gaps between countries narrow.
Averages hide inequality: South Africa and Botswana have high GDP per capita but among the highest income inequality in the world. See also the poorest countries in Africa.
Frequently Asked Questions
What is the richest country in Africa?
By total GDP, South Africa and Egypt are the largest economies, each at roughly $400 billion in 2024. By GDP per person, Seychelles is the richest, followed by Mauritius.
Is Nigeria the largest economy in Africa?
Not in recent years. Nigeria was Africa's largest economy in US dollar terms for most of 2014 to 2022, but the fall of the naira since 2023 moved it behind South Africa, Egypt and Algeria in IMF estimates.
Which African country has the highest GDP per capita?
Seychelles, with a nominal GDP per person of roughly $20,000. Mauritius is second.