- Business Insider Africa presents the top 10 African countries with the highest GDP growth in 2024.
- This list is courtesy of the World Bank’s Africa Pulse report.
- Rwanda ranks number 1 on the list.
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Real GDP growth is often associated with higher income levels, job creation, and improved access to basic services. For African countries, this means higher living conditions for the population and progress toward development objectives. Fortunately, many African countries are experiencing growth in this regard, despite the recent revision of growth projections by the World Bank that saw to marginal fall in the index of several sub-Saharan African countries.
In 2024, as indicated by the World Bank in its Africa Pulse report, real GDP growth in 27 Sub-Saharan African countries was projected to increase, with eight countries seeing growth of more than 5%, including Côte d'Ivoire (6.5%), Uganda (6.0%), and Tanzania (5.4%).
Improvements in performance were mostly driven by structural changes and public infrastructure expenditures.
Overall, in the April 2024 edition of the Africa Pulse report, SSA’s growth expectations for 2023 and 2024 were taken down by 0.2 and 0.4 percentage points, respectively.
For over half of the Sub-Saharan African nations, the growth projections for 2024 have been reduced (23 of 47).
This is a result of the violent tension in the eastern African nation of Sudan. Sudan is one of the large nations that continues to impede regional expansion.
According to growth forecasts, the economic impact of Sudan's devastating conflict is expected to cause an economic activity collapse of 20% in 2023 and 15% in 2024.
However, if Sudan is excluded from the overall estimates, growth in SSA seems more optimistic.
The region’s economic activity would then be set to rise by 3.5 percent in 2024, a drop of 0.1 percentage points from the previous estimate.
With that said, here are the 10 African countries with the highest GDP growth in 2024 so far.
Top 10 African countries with the highest real GDP growth in 2024
| 1. | Rwanda | 7.6% |
| 2. | Mauritania | 6.5% |
| 3. | Côte d'Ivoire | 6.5% |
| 4. | Benin | 6.3% |
| 5. | Ethiopia | 6.1% |
| 6. | Uganda | 6.0% |
| 7. | Niger | 5.7% |
| 8. | Mauritius | 5.6% |
| 9. | The Gambia | 5.6% |
| 10. | Tanzania | 5.4% |
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