The African Development Bank has revealed that Africa currently accounts for 12 of the world’s 20 fastest-growing economies, underscoring the continent’s resilient economic momentum despite global headwinds.
AfDB President Dr. Akinwumi Adesina made this known at an economic summit in Abidjan, projecting that the trend would continue as African nations adopt digital innovation, improve infrastructure, and deepen trade integration under the African Continental Free Trade Area.
He cited countries like Rwanda, Ethiopia, Côte d’Ivoire, Ghana, and Senegal as leading the growth trajectory, with GDP expansion averaging over 6 per cent annually.
Interestingly, Nigeria was not among those listed as top 20 fastest-growing economies, reflecting the sluggish recovery of Africa’s largest economy.
The bank chief called on African governments to tackle inflation, currency instability, and debt burdens to sustain growth.
He also urged them to invest heavily in human capital to convert economic expansion into tangible improvements in living standards.
