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HomeNewsGDP growth: Top 10 fastest growing economies in Africa in 2023

GDP growth: Top 10 fastest growing economies in Africa in 2023

1. Rwanda (GDP Growth: 6.2%): Rwanda, the land of a thousand hills, boasts a remarkable GDP growth of 6.2%. This East African nation is not just a scenic beauty; it’s a growing economic force.

2. Côte d’Ivoire (GDP Growth: 6.2%): Côte d’Ivoire emerges as a West African dynamo, claiming the second spot with a GDP growth of 6.2%. Its economic vibrancy contributes significantly to the prosperity of the region.

3. Benin (GDP Growth: 5.5%): Securing the third sport on our list is Benin, a small but mighty player with a GDP growth of 5.5%. This West African gem is making waves, showcasing that size doesn’t determine strength in the economic arena.

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4. Uganda (GDP Growth: 5.4%): Uganda, part of the vibrant East African community, maintains momentum with a GDP growth of 5.4%. With a growing population, Uganda’s economic stride is a testament to East Africa’s potential.

5. Tanzania (GDP Growth: 5.2%): Tanzania, a cornerstone in East Africa, secures the fifth spot with a GDP growth of 5.2%. Its diverse economy contributes significantly to the region’s economic prowess.

6. Kenya (GDP Growth: 5%): Kenya, positioned as a beacon in East Africa, secures the sixth spot with a GDP growth of 5%. A diversified economy and strategic initiatives make Kenya a key driver of growth in the region.

7. Togo (GDP Growth: 4.6%): Togo, nestled in West Africa, displays resilience with a GDP growth of 4.6%. Despite challenges, Togo’s economy stands tall, making it a key player in the West African economic landscape.

8. Senegal (GDP Growth: 4.1%): Senegal, with a steady GDP growth of 4.1%, maintains its position as an economic force in West Africa. Stability and strategic initiatives characterise Senegal’s economic journey.

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9. Madagascar (GDP Growth: 4%): The enchanting island of Madagascar claims the ninth spot with a solid GDP growth of 4%. Despite its unique geography, Madagascar proves that economic growth knows no boundaries.

10. Algeria (GDP Growth: 3.8%): Closing our list is Algeria, providing North African stability with a GDP growth of 3.8%. As one of the largest economies on the continent, Algeria’s economic stability influences North Africa’s economic landscape.

Source: Africa Development Bank report – FROM MILLIONS TO BILLIONS: FINANCING THE DEVELOPMENT OF AFRICAN CITIES