1. Niger
Niger claims the top spot as the fastest-growing African country in 2024, with a remarkable real GDP growth rate of 11.1% and a real GDP per capita growth rate of 7.1%. Despite facing challenges such as political instability and economic sanctions, Niger’s optimistic economic outlook underscores its resilience and potential for sustained growth and development.
2. Senegal
Senegal, situated on the coastline of the Atlantic Ocean, will emerge as the 2nd fastest-growing African economy in 2024, with a real GDP growth rate of 8.8% and a real GDP per capita growth rate of 5.9%. Senegal’s economic expansion is driven by investments in key sectors such as oil and gas, infrastructure, agriculture, and tourism, highlighting its potential as a major economic powerhouse in West Africa.
3. Libya
Libya, a West African country bordering the Mediterranean Sea, ranks among the top 3 fastest-growing African economies in 2024, with a real GDP growth rate of 7.5%. Despite facing challenges, Libya’s economy demonstrates resilience and potential for sustained growth, supported by favorable economic indicators and projections.
4. Rwanda
Rwanda emerges as the 4th fastest-growing African economy in 2024, boasting a real GDP growth rate of 7% and a real GDP per capita growth rate of 4.2%. Rwanda’s success can be attributed to stable governance, long-term planning, and a strong emphasis on accountability and anti-corruption measures, which have fostered an environment conducive to sustainable growth and development.
5. Côte d’Ivoire
Côte d’Ivoire, a West African nation, secures the 5th position with a real GDP growth rate of 6.6% and a real GDP per capita growth rate of 3.9% in 2024. As a regional economic hub and a leading producer of cocoa and cashews, Côte d’Ivoire’s economic growth underscores its pivotal role in driving economic development in West Africa.
6. Burkina Faso
Positioned in West Africa, Burkina Faso ranks as the 6th fastest-growing African economy in 2024, with a real GDP growth rate of 6.4% and a real GDP per capita growth rate of 3.5%. Despite facing challenges such as insecurity in certain regions, Burkina Faso’s economy demonstrates resilience and potential for advancement.
7. Benin
Benin, a West African nation, secures the 7th position on our list with a real GDP growth rate of 6.3% and a real GDP per capita growth rate of 3.4% in 2024. Benin’s strong economic performance reflects its focus on sectors such as agriculture and transit trade, driving sustainable growth and development.
8. Ethiopia
Ethiopia, one of East Africa’s largest economies, ranks 8th with a real GDP growth rate of 6.2% and a real GDP per capita growth rate of 4.5% in 2024. Despite facing challenges such as the civil war and the impact of COVID-19, Ethiopia’s economy demonstrates resilience and prospects for growth.
9. The Gambia
Ranking 9th on our list, The Gambia, a West African country, showcases a real GDP growth rate of 6.2% and a real GDP per capita growth rate of 3.1% in 2024. The Gambia’s economic momentum underscores its potential for sustainable development and prosperity.
10. Tanzania
Tanzania, an East African nation, clinches a spot in the top 10 fastest-growing African economies in 2024 with a real GDP growth rate of 6.1% and a real GDP per capita growth rate of 3%. Tanzania’s robust economic performance reflects its diversification efforts and investment-friendly policies.
11. Burundi
Situated in the Eastern part of Africa, Burundi secures the 11th position with a real GDP growth rate of 6% and a real GDP per capita growth rate of 2.9% in 2024. Despite facing various challenges, Burundi’s economy demonstrates resilience and potential for advancement.
12. Djibouti
As the 12th fastest-growing African economy in 2024, Djibouti, an East African nation, records a commendable real GDP growth rate of 6%. Djibouti’s strategic location at the crossroads of East Africa and the Arabian Peninsula contributes to its economic vitality and growth prospects.
13. Uganda
Uganda, positioned in East Africa, claims the 13th position on our list with a robust real GDP growth rate of 5.7% and a real GDP per capita growth rate of 2.7% in 2024. This underscores Uganda’s steady economic progress and its role as a key player in the East African economic landscape.
14. Guinea
Another West African nation, Guinea, secures the 14th spot on our list of the fastest-growing African economies in 2024. With a real GDP growth rate of 5.6% and a real GDP per capita growth rate of 3%, Guinea demonstrates its emergence as an economic force in the region, buoyed by its strategic location along the Atlantic Ocean.
15. Togo
Togo, a West African nation, showcases a promising economic trajectory with a real GDP growth rate of 5.3% and a real GDP per capita growth rate of 2.8% in 2024. Ranking as the 15th fastest-growing African economy this year, Togo’s performance reflects its resilience and potential for sustained development.
Read also;