Africa Dominates Global Growth Rankings with 12 of World’s 20 Fastest-Growing Economies, Says AfDB President

The President of the African Development Bank Group (AfDB), Sidi Ould Tah, announced on Tuesday that 12 of the 20 fastest-growing economies in the world are in Africa. He made the remarks during the launch of the 2026 African Economic Outlook at the AfDB’s Annual Meetings in Brazzaville.

According to Tah, the report highlights Africa’s resilience despite global tensions, trade uncertainties, and falling development aid.

Africa’s real GDP growth held steady at 4.3% in 2026 and is expected to rise to 4.5% in 2027. GDP per capita growth also improved, climbing from 0.9% in 2023 to 1.9% in 2025.

Tah noted that foreign direct investment into Africa surged by 75% in 2024, reaching $97 billion, while remittances grew by 14% to $186 billion, becoming a key source of external financing.

Inflation across the continent dropped from 21.8% in 2024 to 13.6% in 2025, though rising energy and import costs pose new risks.

Despite these positive trends, Tah cautioned that structural challenges and funding gaps remain. He urged African nations to build on their gains through investment-led growth, better human capital development, and expanded infrastructure financing.

He also called for deeper financial reforms to reduce reliance on foreign aid and strengthen Africa’s economic sovereignty, emphasizing the need to harness demographic advantages and rising investment inflows for long-term growth.