Algeria has the lowest level of wealth inequality in Africa, with an index of 27.6%. This means money and resources are more evenly shared among its people compared to other African countries. Globally, Algeria ranks 152nd for inequality.
Right behind Algeria is Egypt, with a score of 31.5%, placing it 133rd in the world. Seychelles is third in Africa, with a score of 32.1% and ranks 129th globally.
Around the world, a small group of people holds most of the wealth. Reports from Oxfam and the World Inequality Lab show that the richest 1% of people own more than the other 99% combined. This gap isn’t just about income; it also includes things like houses, stocks, and businesses.
Most of the world’s wealth is in rich countries like the U.S., Canada, and those in Europe. But even there, the gap between rich and poor is growing. This is due to tax laws that benefit the wealthy, fewer good jobs for the middle class due to machines and technology, and the high cost of education and healthcare.
In Africa, the wealth gap has its own causes. The continent has valuable resources like oil, diamonds, and gold. But most people don’t benefit from these riches. Instead, a small group of wealthy people gets most of the profits, while the average person sees very little change in their lives.
According to the World Bank, Sub-Saharan Africa is one of the most unequal places in the world. South Africa, in particular, has a very high level of inequality, partly because of its past under apartheid and the unequal sharing of land and money.
A report by Henley & Partners in 2024 says there are 135,200 millionaires in Africa, each with more than $1 million in wealth. There are also 342 people worth over $100 million and 21 billionaires. Most of these rich individuals live in South Africa, Egypt, Nigeria, Kenya, and Morocco—together, these five countries have over half of Africa’s millionaires and almost all of its billionaires.
Here are the 10 African countries with the lowest wealth inequality:
| Rank | Country | Inequality Index | Global Rank |
|---|---|---|---|
| 1 | Algeria | 27.6% | 152nd |
| 2 | Egypt | 31.5% | 133rd |
| 3 | Seychelles | 32.1% | 129th |
| 4 | Mauritania | 32.6% | 126th |
| 5 | Tunisia | 32.8% | 123rd |
| 6 | Mali | 33.0% | 117th |
| 7 | Guinea | 33.7% | 110th |
| 8 | Niger | 34.3% | 107th |
| 9 | Ethiopia | 35.0% | 102nd |
| 10 | Nigeria | 35.1% | 99th |