Mauritius takes the top spot in terms of highest GDP-PPP per capita, followed by Libya and Botswana, as per the IMF’s rankings. This analysis explores the factors that contribute to the financial success and economic stability of these African nations, from the thriving financial centers in Mauritius to the abundance of resources in Libya. Middle-ranked countries include Gabon, Equatorial Guinea, and Egypt.
South Africa, Algeria, Tunisia, and Morocco occupy the lower end of the ranking, with Morocco positioned at the 10th spot. When considering the wealthiest nations in Africa, one typically considers the GDP per capita of each country. The International Monetary Fund (IMF) provides a list of Africa’s top 10 richest countries based on this metric.
However, if you are watching out for the GDP per capita of Nigeria or the GDP per capita of Kenya, this list may surprise you since the countries that emerge on top are also some of the smallest countries in the continent.
GDP, or the gross domestic product, is a parameter for the value of all goods and services produced in a nation. Dividing this output by the number of full-time residents in a country is a better way of determining how rich or poor a country’s general populace is.
However, only when taking into account inflation rates and the cost of local goods and services, can we get a more accurate picture of a nation’s average standard of living. Considering both factors, the resulting figure is called PPP or purchasing power parity, often expressed in dollars to allow comparisons between countries.
