SEE Africa's Top 10 Most Prosperous Countries

What is Africa's most prosperous country? According to new research from the Legatum Institute, which last week ranked prosperity in 38 African countries around criteria ranging from economics to education to health, the title belongs to Botswana, the diamond-rich country in southern Africa. As well as posting a relatively high per capita Gross Domestic Product (GDP) of $15,176, Botswana also fared well in terms of governance, education and personal freedom. As the country spends 8% of its GDP on education, it is among the biggest proportional spenders in the world according to the World Bank. This is the third year in a row that Botswana has topped the index. In contrast, the Central African Republic was the lowest ranked country on the continent. The country, which has a per capita GDP of $584, has seen increasing violence since the end of 2012, and only 21.5% of the population have access to sanitation according to the prosperity index. 10. Senegal Senegal ranks as the continent's 10th most prosperous nation, according to Legatum Institute's 2014 Africa Prosperity Report, up nine places since 2012. 9. Burkina Faso Burkina Faso ranks ninth in the 2014 report, having risen by five places since 2012. 8. Rwanda Rwanda was ranked the eighth most prosperous African nation. The report praised the country for "actively encouraging women" to shape the future of their country. 7. Ghana Ghana has a vibrant economic spirit. The West African nation was ranked seventh in the prosperity rankings and was considered the second safest nation on the continent. 6. Algeria The sixth most prosperous nation in Africa is Algeria. The country, where 93% of respondents have a cell phone, topped the economy index. 5. Tunisia Tunisia is the fifth most prosperous African nation in 2014 according to the Legatum Institute. The country ranks first in the health sub-index and citizens have a life expectancy of 75 years -- 17 years higher than the African average. 4. Namibia Fourth most prosperous African country: Namibia, ranked second in the governance sub- index. 3. Morocco Morocco is the third most prosperous African nation. 2. South Africa South Africa ranked as the second most prosperous country in Africa, with nearly 40% of people surveyed saying it's a good time to find a job. 1. Botswana As well as beautiful natural heritage, Botswana is the most prosperous African country according to research conducted by the Legatum Institute. The landlocked country ranks first in the report's governance index.