12 of world’s top 20 fastest-growing economies in Africa - AfDB president

Africa is showcasing remarkable economic dynamism, with 12 of the world's top 20 fastest-growing economies situated on the continent, according to African Development Bank Group President Sidi Ould Tah. He highlighted this trend during the inauguration of the bank's 2026 African Economic Outlook report at the AfDB Annual Meetings in Brazzaville.

“

The report says African economies continue to demonstrate resilience in spite of global geopolitical tensions, trade uncertainties and declining development assistance.

Despite facing global geopolitical tensions, trade uncertainties, and declining development assistance, African economies have demonstrated resilience. Their real Gross Domestic Product (GDP) growth stabilized at 4.3% in 2026 and is projected to increase to 4.5% in 2027. This performance underscores the continent's growing economic momentum in a challenging global environment. Furthermore, Africa's GDP per capita growth has seen consistent improvement, rising from 0.9% in 2023 to 1.9% in 2025.

“

Africa’s real Gross Domestic Product (GDP) growth stabilised at 4.3 per cent in 2026 and is projected to rise to 4.5 per cent in 2027.

Foreign direct investment experienced a strong rebound in 2024, surging by 75% to $97 billion. Remittance flows also increased by 14% in the same year, reaching $186 billion, solidifying their role as a primary source of external financing for African economies. Inflation across the continent has declined significantly, from 21.8% in 2024 to 13.6% in 2025, although recent pressures from rising energy and import costs have emerged.

“

The performance highlights the continent’s growing economic dynamism in a challenging global environment.

However, Tah cautioned that significant structural challenges and financing gaps remain. He urged African nations to build upon their current gains through intensified investment-led growth, enhanced human capital development, and expanded infrastructure financing. The AfDB president emphasized the need for deeper financial reforms to reduce dependence on external aid and bolster Africa's economic sovereignty, advocating for the leveraging of demographic advantages and investment inflows to sustain long-term growth.

“

Africa’s GDP per capita growth has also continued to improve, rising from 0.9 per cent in 2023 to 1.9 per cent in 2025.