Confidence in the economy has grown again, helped by falling unemployment and more stable public finances.

Johannesburg Skyline At Johannesburg In Gauteng South Africa.

The country tops the list with a GDP of $410 billion (Image: Getty)

Many countries across Africa have growing and developing economies, with some even expanding faster than expected over the last few years. Several nations have also been building stronger financial sectors, attracting overseas investment and increasing the number of high-net-worth individuals. 

But one country now stands out more than any other when it comes to total wealth. Statista’s GDP comparison for 2025 places South Africa first with a GDP of $410 billion, followed by Egypt at $347 billion, Algeria at $268 billion, Nigeria at $188 billion and Morocco at $165 billion. 

Cape Town and the 12 Apostels from above

South Africa is home to the continent’s largest concentration of wealthy individuals (Image: Getty)

South Africa is also home to the continent’s largest concentration of wealthy individuals. 

Henley & Partners’ Africa Wealth Report says it has around 41,100 millionaires, eight billionaires and, according to the report’s definition, 112 centi-millionaires (those worth over $100 billion). 

The experts attribute this to decades of industrial development, a diverse economy and strong financial services.

The South African Government News Agency says confidence in the economy has grown again, helped by falling unemployment and more stable public finances.

According to official figures, the unemployment rate fell to 31.9% in the third quarter of 2025, down 1.3% from the previous quarter.

Johannesburg city centre on an early sunrise

The Johannesburg Stock Exchange remains Africa’s largest (Image: Getty)

The latest news from around the world Invalid email

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy

The government says economic reforms have also played an important role. 

It highlighted progress on transport restructuring, new access rules for freight rail and major upgrades to Durban port. 

It added that load shedding had not occurred for more than five months, something it credited to increased energy capacity and improved management in the power sector.

International lenders have also taken notice. The World Bank Group approved a $925 million programme this year to support South Africa’s eight biggest metro areas.

Cape Town city skyline twilight

Unemployment rate fell to 31,9% in the third quarter of 2025, down by 1,3% from the previous quarte (Image: Getty)

It forms part of a wider $3 billion government reform package. The World Bank says the aim is to improve local services, upgrade infrastructure and strengthen accountability in cities that play a large role in national economic output.

What’s more, South Africa’s financial sector is among the strongest on the continent. 

Cape Town has grown as a major tech hub, and the Johannesburg Stock Exchange remains Africa’s largest. 

The country has also become one of the top global destinations for international offshoring services in 2025.

For all the latest news from South Africa, click here.