12 of world’s 20 fastest-growing economies are in Africa, says AfDB president
The President of the African Development Bank Group, Sidi Ould Tah, has said that 12 of the world’s 20 fastest-growing economies are currently in Africa, underscoring what he described as the continent’s growing economic resilience.
Tah made the remark on Tuesday while inaugurating the 2026 African Economic Outlook at the ongoing African Development Bank (AfDB) Annual Meetings in Brazzaville.
He said African economies have continued to demonstrate resilience despite global geopolitical tensions, trade uncertainties, and declining development assistance.
According to him, 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, reflecting sustained economic momentum across the continent.
“The report says African economies continue to demonstrate resilience in spite of global geopolitical tensions, trade uncertainties and declining development assistance,” he said.
Tah noted that Africa’s GDP per capita growth has also improved, rising from 0.9 per cent in 2023 to 1.9 per cent in 2025, while foreign direct investment rebounded significantly in 2024, increasing by 75 per cent to $97 billion.
He added that remittance inflows rose by 14 per cent in 2024 to $186 billion, making them one of the continent’s most important sources of external financing.
On inflation, he said the rate declined from 21.8 per cent in 2024 to 13.6 per cent in 2025, although he warned that recent pressures linked to energy and import costs were emerging.
