By 
The President of the African Development Bank (AfDB), Sidi Ould Tah, has revealed that 12 of the world’s 20 fastest-growing economies are located in Africa, underscoring the continent’s growing economic momentum despite global uncertainty.
Tah made the disclosure on Tuesday while unveiling the 2026 African Economic Outlook during the ongoing annual meetings of the African Development Bank Group in Brazzaville.
According to him, African economies have continued to demonstrate resilience amid geopolitical tensions, global trade uncertainties, and declining development assistance.
He noted that the continent’s real Gross Domestic Product (GDP) growth stabilised at 4.3 per cent in 2026 and is projected to rise further to 4.5 per cent in 2027, reflecting what he described as increasing economic dynamism in a challenging global environment.
Tah also highlighted improvements in GDP per capita growth, which rose from 0.9 per cent in 2023 to 1.9 per cent in 2025, signalling gradual economic progress across African countries.
Foreign direct investment into Africa also recorded a significant rebound, increasing by 75 per cent to $97bn in 2024, while remittance inflows climbed by 14 per cent to $186bn, reinforcing their role as one of the continent’s largest sources of external financing.
The AfDB President further noted a decline in inflation across the continent, which dropped from 21.8 per cent in 2024 to 13.6 per cent in 2025, although he cautioned that rising energy prices and import costs have recently introduced new inflationary pressures.
Despite the encouraging economic indicators, Tah warned that Africa still faces structural challenges and substantial financing gaps that could slow long-term development if not addressed.
He urged African governments to consolidate current gains through stronger investment-led growth, improved human capital development, and increased infrastructure financing.
Tah also called for deeper financial sector reforms to reduce dependence on external aid and strengthen the continent’s economic sovereignty.
He stressed the importance of leveraging Africa’s youthful population, rising investment inflows, and emerging economic opportunities to sustain long-term and inclusive growth.
Comments