Richest Country in Africa

It wouldn’t be astonishing for anyone that South Africa is the richest country in Africa. According to a new survey, there’s an increase in the United States, China, and India’s wealth, while European countries are experiencing a decline in their growth and wealth in the last decade. There are more than 5 lac millionaires globally, and $184 trillion wealth is spread across the planet earth. We haven’t listed the ten richest countries in Africa but have come up with Africa’s richest country. However, only Mauritius competes South Africa in terms of GDP and Per Capita Income (PCI). 

Richest Country in AfricaImage Credit: Career Advise

South African Economy 

South Africa enjoys a relatively high GDP as compared to other sub-Saharan Africa. The South African economy is majorly based on manufacturing but has extended itself beyond the lines and has moved ahead by becoming a diversified economy by incorporating technological advancements and establishing various industries. In 1996, international sanctions came to an end, and since then, the economy has tripled its GDP growth. The state owns the majority of the enterprises. However, the private sector has started dominating in the last decade, and the market share is diverting from state to private sector, which is a sign of positive growth. It is also increasing the number of millionaires. Therefore, South Africa is the richest country in Africa. 

Top 5 Richest South Africans 

In Africa, many individuals have made their fortune by investing in multiple domains. Most of them come from diamonds, retail, and oil business. Patrice Motsepe is the first South African emerging on the richest Africans list on Forbes. It seems odd to list down the billionaires from a continent where poverty and inequality dominates. However, the richest South Africans have stepped ahead and moved beyond their confines to explore avenues for them. It’s motivational that people hailing from a poor continent has become billionaires by their dedication towards work. Below you will find the richest people from the richest country in Africa. 

5. Patrice Motsepe – Net Worth: $1.4 Billion

Source: Forbes

In 2008, the founder and Chairman of African Rainbow Minerals became a billionaire. He is the black African to acquire space on the Forbes list. Later on, he launched African Rainbow Capital, and the primary purpose was to promote investment in Africa. He has also shared in financial services Firm Sanlam. His fortune starts when he purchased ow-producing gold mine shafts and later turn them into a profitable business. He has signed the promising pledge to give half of the fortune to charity. Patrice ranks at number 5th with a net worth of $1.4 Billion. 

4. Koos Bekker – Net Worth: $2 Billion 

Source: Forbes

Koos Bekker could be regarded as an exception; he has transformed South African newspaper publisher Naspers into a cable TV powerhouse and e-commerce investor. He retired as CEO of Naspers back in 2014 but rejoined the company as Chairman in 2015. He has made a big fortune after investing in Chinese firm Tencent in 2001. His company has the largest market capitalization in the media industry outside the United States and China. The company has extended its operation in 130 countries and is listed on the London Stock Exchange and Johannesburg Stock Exchange. Koss Bekker’s net worth is estimated to be around $2 Billion. He stands at number 4 for being the richest person in South Africa, the richest country in Africa. 

3. Johann Rupert – Net Worth: $4.6 Billion 

Source: News24

He is Chairman of Swiss luxury goods firm Compagnie Financiere Richemont. It is known for its brand Cartier and Montblanc. Rupert has inherited the business from his father and now stands at number 3 for being the richest person from South Africa, the richest country in Africa. He has worked in New York for some big financial companies. His Cartier brand is popular around the world and is donned by even the British Royals. Currently, Johann Rupert’s net worth is approximately $4.6 Billion. 

2. Nicky Oppenheimer – Net Worth: $7.6 Billion

Source: YouTube

Nicky is heir to his family’s fortune. In 2012, he had sold a 40% stake in diamond firm DeBeers for $5.1 Billion. The Oppenheimer Family occupied a controllable state in the world’s diamond trade for 85 years until 2012. In 2014, he launched Fireblade Aviation in Johannesburg. Nicky also owns 720 square miles of conservation land in Botswana, Zimbabwe, and South Africa. He is the second richest man in South Africa. Nicky has inherited a diamond fortune, and he has been listed on Forbes several times. Currently, Nicky Oppenheimer Net Worth is approximately $7.6 Billion. 

1. Elon Musk – Net Worth: $82 billion

Source: The Verge

Elon Musk is the richest South African. He is even the third richest person in the world. The youngest billionaire is a workaholic and loves to spend his time in office. He is the CEO of the famous automotive company TESLA, which makes electric cars. He is also the founder of the American company SpaceX. Over the years, he has made a big fortune and now ranks the third richest person globally. Currently, Elon Musk’s net worth is estimated to be around $82 Billion. He is the world’s third-richest person from the richest country in Africa. 

Richest Country in Africa

The South African rich list proves that it is the richest country in Africa. Moreover, The cultural and living lifestyle of South Africa has also dramatically enhanced over the years. Nevertheless, South Africa tops the list with high individual net worth. The cumulative wealth of the richest in South Africa accounts for more than $550 Billion. Johannesburg is the richest country in South Africa, followed by Cape Town, Paarl, and Franschhoek. It’s been projected that the wealth of individuals will grow by 30% in the next decade.