30/08/2025
No country, African or otherwise, has ever sustainably become the world’s wealthiest by relying solely on natural resources. The most prosperous and advanced economies, such as China, the United States, Germany, Japan, South Korea, and Switzerland, have built their wealth through industrialization, innovation, trade, services, and strong institutions, not merely through resource extraction.
Africa’s two largest economies, South Africa and Egypt, have diversified economic structures where industry, finance, and services play significant roles. Their prosperity is not solely tied to natural resources. Among the five African countries with the highest GDP per capita, three, Seychelles, Mauritius, and Botswana, stand out. While Botswana’s economy was historically anchored by diamond mining, its sustained growth is more accurately attributed to sound governance and strategic reinvestment in public goods.