Top 5 Richest African Countries – 2015
The following are the 5 richest countries in Africa:
Mauritius has implemented a free-market economic model, creating a very competitive market. The country’s success depends on tourism, information technology and financial services. It is ranked as a middle income economy by the World Bank.
Botswana’s economy grew exceptionally rapidly, thus transforming it from a very poor country to a fast-paced middle income economy. The country’s economy is based on diamond mining, farming, tourism and financial services.
Although Gabon has declining oil production, it is still the fifth largest oil producer in Sub—Saharan Africa. An over reliance on the oil sector for the past 40 years has seen the country attempt to develop a more diverse economy, to little success so far. The high oil production within the country has helped them to develop and advance the education system within the country. Although with oil reserves running low maintenance of the school system is beginning to suffer with no alternative funding yet found.
2. Equatorial Guinea
Equiatorial Guinea’s population is quite small, giving it a larger GDP per capita. You’d think that the country’s huge oil reserves would help improve the population’s quality of life, but until now the majority of the people are living under the poverty line.
The Seychelles have the highest GDP per capita, and is the richest country in Africa. Its economy is based on fishing, shipments and especially tourism. The country has the best beaches in Africa, and also has many hotels and resorts, which are a favorite destination for the world’s most rich and famous people.