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It is Mauritius in terms of citizen wealth, South Africa in terms of development and could be Nigeria or Libya in terms of economic potential.
If we use per capita income, then Mauritius is the wealthiest country with a per capita income of $13,100, followed by South Africa $12,000, Libya $ 11,400 and Seychelles $ 7,800. In GDP or national economic sense, South Africa is the biggest or the wealthiest economy with a GDP of $533 billion, followed by Nigeria $174 billion and Libya $65.79 billion.
The reason for countries like Mauritius and Seychelles having high per capita incomes but low GDP is that they are island nations with small populations and economically well developed small territories. Countries such as Libya and Nigeria have very small populations compared to area, very little development but are major oil exporters. South Africa is the most developed nation in Africa even though development is regional. Its economy has a manufacturing, trading and service base rather than just tourism or oil.
It is also the only African nuclear power and has its stock exchange listed amongst the top 10 in the world.
If we use per capita income, then Mauritius is the wealthiest country with a per capita income of $13,100, followed by South Africa $12,000, Libya $ 11,400 and Seychelles $ 7,800. In GDP or national economic sense, South Africa is the biggest or the wealthiest economy with a GDP of $533 billion, followed by Nigeria $174 billion and Libya $65.79 billion.
The reason for countries like Mauritius and Seychelles having high per capita incomes but low GDP is that they are island nations with small populations and economically well developed small territories. Countries such as Libya and Nigeria have very small populations compared to area, very little development but are major oil exporters. South Africa is the most developed nation in Africa even though development is regional. Its economy has a manufacturing, trading and service base rather than just tourism or oil.
It is also the only African nuclear power and has its stock exchange listed amongst the top 10 in the world.
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Pls remove nigeria ,,we have the worst leaders ever in the history of man.they are self centered and greedy..someone like our x president
Olusegun obasanjo..i should be in school studing now but we are strike becos the government refuse to pay our lecturers and summit to some other terms..whereas all there own kids are studying overseas.pls dont hype nigeria the leaders are rich and the ppl are poor..
Olusegun obasanjo..i should be in school studing now but we are strike becos the government refuse to pay our lecturers and summit to some other terms..whereas all there own kids are studying overseas.pls dont hype nigeria the leaders are rich and the ppl are poor..
Ii think South Africa tends to be the richest because its the only African country that's nearest to the NICs.
But Nigeria might be joining soon if the can control their economy.
But Nigeria might be joining soon if the can control their economy.
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I think Nigeria should be ranked as the richest. Yes, South Africa might be more developed infra-structurally, but have you seen the economic progress in Nigeria within the last 8 years?
Nigeria has the fastest growing telecommunication sector in the world! Beating China, India and USA. Nigeria has the fastest growing banking sector in Africa.
With over 150 million people, it has the fastest growing number of billionaires and multi- millionaires. Haven't you heard of people like, Aliko Dangote, Mike Adenuga (Globacom), Femi Otedola, Jim Ovia, Adedoyin, Wale Tinubu, etc...
These are just a few names. Nigerian banks and companies are very busy buying up other companies and starting up business in many countries in Africa.
You need to visit Nigeria and see the amount of growth in different sectors. The middle class is growing at a fast rate too. The direct foreign investment coming into Nigeria is amazing and everyone wants to do business in Nigeria now.
The income from Oil and the many new industries is fast growing. I think the rest of the world should watch out for Nigeria.
Nigeria has the fastest growing telecommunication sector in the world! Beating China, India and USA. Nigeria has the fastest growing banking sector in Africa.
With over 150 million people, it has the fastest growing number of billionaires and multi- millionaires. Haven't you heard of people like, Aliko Dangote, Mike Adenuga (Globacom), Femi Otedola, Jim Ovia, Adedoyin, Wale Tinubu, etc...
These are just a few names. Nigerian banks and companies are very busy buying up other companies and starting up business in many countries in Africa.
You need to visit Nigeria and see the amount of growth in different sectors. The middle class is growing at a fast rate too. The direct foreign investment coming into Nigeria is amazing and everyone wants to do business in Nigeria now.
The income from Oil and the many new industries is fast growing. I think the rest of the world should watch out for Nigeria.
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Guest
answered 8 months ago
Guest
answered 7 months ago
Mauritius No doubt about it, the tourist sector booming, the economy and the impressive number of off shore companies now implanted in Mauritius. Mauritius is the tiger of the Indian Ocean..
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Guest
answered 7 months ago
Guest
answered 6 months ago
Guest
answered 6 months ago
Guest
answered 6 months ago
With the development level and infrastructures in Nigeria.I think it should be consider as the richest Africa nation
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South africa wit our per capita+GDP way ahead of other african countries not to mention development infrastructure.
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Guest
answered 5 months ago
Guest
answered 2 months ago
South Africa, no doubt. If Nigeria is so rich then what are all these Nigerians doing in South Africa?
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Guest
answered 2 months ago
Agreed, They all here doinging things that should not be done.
They come to SA looking for Asylum if theire country is doing so well why would they flee?
I live in SA but was born in Europe and can say we are doing very well although botswana is also one of the fastest growing in AFrica.
They come to SA looking for Asylum if theire country is doing so well why would they flee?
I live in SA but was born in Europe and can say we are doing very well although botswana is also one of the fastest growing in AFrica.
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