The International Monetary Fund (IMF) has identified Benin Republic, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda as Africa’s fastest-growing economies, leaving Nigeria off the list of the continent’s top performers.
The announcement came during the launch of Sub-Saharan Africa’s latest Regional Economic Outlook, as stated by Abebe Selassie, Director of the IMF’s African Department, in a press briefing on Thursday.
Selassie credited the strong growth in these five countries to sustained policy reforms, improved fiscal management, and investments in infrastructure and manufacturing, positioning them among the world’s fastest-expanding economies.
In contrast, Nigeria, despite being Africa’s largest economy, did not make the cut due to ongoing economic challenges.
The IMF projects Sub-Saharan Africa’s growth to stabilize at 4.1 percent in 2025, with a slight increase expected in 2026, driven by macroeconomic stabilization and reform efforts in key economies.
Selassie emphasized that the success of Benin, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda stems from their focus on fiscal reforms and macroeconomic stability, offering a model for other nations in the region.
CURTESY: nigerianeye
