Last updated on January 15th, 2024 at 10:10 am
The world’s poorest countries are classified as low-income economies in the World Bank’s four-tier rating system. This ranking is based on each country’s gross domestic product (GDP) per capita, which is a measure of that country’s GDP divided by its population. In this article, we will talk about the top 10 poorest countries in Africa in 2024.
1. Burundi (GDP Per Capita: $239)
Burundi is the poorest country in Africa and the world because of its landlocked geography and underdeveloped manufacturing sector. The economy is predominantly agricultural, accounting for more than 50% of GDP in 2021 and employing more than 60% of the population. According to the World Food Programme, approximately 70% of Burundi’s population lives in poverty. This is the poorest country in Africa in 2024.
2. Somalia (GDP Per Capita: $438.3)
According to the IMF, the country’s GDP per capita in 2021 was around 438.3 USD. About 43% of the population lives on less than US$1 a day, with about 24% living in urban areas and 54% living in rural areas. It is also the hungriest country in Africa.
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3. Mozambique (GDP Per Capita: $448.5)
Since 2001, Mozambique’s average annual GDP growth has been among the highest in the world. However, the country is still one of the most underdeveloped and poorest countries in Africa, with low GDP per capita, human development, inequality levels and life expectancy.
4. Republic of Madagascar (GDP Per Capita: $471.5)
The Republic of Madagascar is an island nation in the Indian Ocean. Its main economic sources are tourism, textiles, agriculture and mining. With a GDP estimated at US$13 billion and a GDP per capita of US$471.5, Madagascar is the fourth poorest country in Africa.
5. Central American Republic (GDP Per Capita: $492.8)
The Central African Republic is a country landlocked in Central Africa. In 2019, according to the Human Development Index (HDI), the country had the second lowest level of human development (only ahead of Niger), ranking 188 out of 189 countries.
6. Sierra Leone (GDP per Capita: $509.4)
The economy of Sierra Leone is a least developed country with a GDP of approximately US$4.06 billion in 2020 and a GDP per capita of US$509.4, making it the sixth poorest country in Africa.
7. Congo (GDP Per Capita: $544)
The Democratic Republic of the Congo, located in Central Africa, is the second-largest country in Africa and the 11th-largest in the world. However, it is one of the poorest countries in Africa. With approximately 108 million inhabitants, the Democratic Republic of the Congo is also the most populous francophone country in the world.
8. Niger (GDP Per Capita: $567.7)
Niger, a landlocked country in West Africa, is named after the Niger River. Niger is amongst the least developed countries in the world. It consistently ranks last in the United Nations Human Development Index (HDI) and is also one of the poorest countries in Africa.
9. Eritrea (GDP Per Capita: $569)
With a GDP estimated at US$2 billion and a GDP per capita of US$569, northeastern Eritrea is the ninth poorest country in Africa. Eritrea’s main economic source is agriculture. However, most people live in poor economic conditions.
10. Liberia (GDP Per Capita: $632.9)
Despite being the first African republic to declare its independence and Africa’s first and oldest modern republic, Liberia is still one of the poorest countries in Africa. Around more than 70% of the population of this country is living on less than US$1.25 a day. In 2021, the country’s GDP per capita was US$632.9, the tenth lowest figure in Africa.
