5) Mauritius – $16,100 (GDP per capita)
Mauritius place on this list owes very much to the
attitude of its government. Since the country’s independence in 1968,
successions of governments have implemented free-market economics which have in
turn created a highly competitive market. With no natural resources to exploit
Mauritius economy has relied heavily on tourism, information technology and
financial services. A booming economy has seen the country also attract lots of
foreign investors, seeing the World Bank rank it as a middle income economy.
4) Botswana – $17,101 (GDP per capita)
Since gaining independence in 1966, Botswana has had one
of the world’s highest economic growth rates. This has seen Botswana
transformed from one of the poorest countries in the world to a competent
middle income economy, owing to stringent fiscal discipline and management by
the country’s government. Whilst the economy is dominated by diamond mining,
there are also strong farming, tourism and financial service sectors. Although
the country is in rude financial health; there is still has a long way to go to
deal with HIV/AIDS within Botswana, with the country having the second highest
adult prevalence rate in the world.
3) Gabon – $20,612 (GDP per capita)
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 – $23,370 (GDP per capita)
Equatorial Guinea owes its high position on this list to
a small population of just 736,296, which has also helped it to 32nd in the
world in terms of gross domestic product per capita. Whilst the country has a
relatively low population it has enormous oil reserves and is one of the
largest oil producers in Africa. Whilst many would believe this to be reflected
in the country’s living conditions, inequality is rife within the country with
the government and officials renowned for corrupt behavior. This means that
whilst the country may rank highly on this list the majority of the population
actually live under the poverty line.
1) Seychelles – $25,229 (GDP per capita)
With the highest gross domestic product per capita, the
Seychelles is ranked as the richest country in Africa. The country is made up
of one-hundred and sixteen small islands with a population of just 92,000 (as
of 2012). This owes much to the ample opportunity for shipments and fishing due
to a plethora of coastline. Furthermore, the country has long been known as a
getaway for the rich and famous meaning it contains numerous hotels and
shopping resorts. Seychelles has the best beaches in Africa.
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