The British magazine recently published its ranking. It is based on the gross domestic product of different countries and purchasing power.

With a purchasing power adjusted GDP per capita of 2,840,985 CFA francs in 2023, Cameroon is Africa’s 23rd richest country. This is according to a report published by the UK-based magazine Global Finance.

Topping the list is Seychelles. It has a gross domestic product, adjusted for differences in purchasing power, of 24,154,158 FCFA.

At the global level, the richest countries in the world are, in order, Ireland (with a per capita GDP in PPP terms of $145,196), Luxembourg ($142,490) and Singapore ($133,895). They are followed by Qatar, Macau, the United Arab Emirates, Switzerland, Norway, the United States and San Marino.

In explaining their methodology, Global Finance said that a country’s GDP – the sum of all the goods and services it produces over the course of a year – cannot be used as the basis for a list of the world’s wealthiest countries because it measures the distribution of wealth. To get a more accurate picture of people’s living conditions, a country’s GDP must be divided by the number of its inhabitants.