Africa Dominates List of Fastest Growing Economies, Says AfDB President.

Brazzaville, Tuesday The head of the African Development Bank (AfDB), Sidi Ould Tah, shared some encouraging news on Tuesday: 12 out of the world’s 20 fastest-growing economies are right here in Africa.

Speaking at the launch of the bank’s 2026 African Economic Outlook during the AfDB Annual Meetings in Brazzaville, Tah highlighted how the continent is holding its own despite global turmoil.

“This report shows that African economies are staying resilient,” he said. “Even with geopolitical tensions, trade uncertainties, and shrinking development aid, the continent is pushing forward.”

According to the report, Africa’s real GDP growth held steady at 4.3% in 2026 and is expected to climb to 4.5% in 2027. The average person’s income is also trending upward GDP per capita growth improved from 0.9% in 2023 to 1.9% in 2025.

Foreign investment is flooding back too. In 2024, foreign direct investment jumped 75% to hit $97 billion. Meanwhile, money sent home by Africans living abroad rose 14% to $186 billion, making remittances a top source of external funding for the continent.

Inflation is also cooling down from a painful 21.8% in 2024 to 13.6% in 2025. Still, Tah warned that rising energy and import costs could stir up new pressures.

But challenges remain. Tah noted that structural issues and financing gaps are still major hurdles. His advice? African countries need to lock in their gains by investing more, building up human capital, and expanding infrastructure funding.

He also called for deeper financial reforms to help Africa rely less on foreign aid and strengthen its economic independence. “We must use our demographic strengths and growing investment flows to fuel long term growth,” Tah said.