Facts in Q&A format

Africa’s top five fastest growing economies, which are projected to grow by more than 5.5% on average in 2023-2024, are Rwanda (7.9%), Côte d'Ivoire (7.1%), Benin (6.4%), Ethiopia (6.0%), and Tanzania (5.6%). ...

In nominal terms, Nigeria's GDP in the second quarter of 2022 stood at N45 million. The oil sector contributed 6.3% (N2.85 million) to the total real GDP in the second quarter of 2022, down from the figures recorded in the corresponding period of 2021 and the preceding quarter, where it contributed ...

While there are several ways to compare various nations' wealth, a commonly used method is to evaluate each country's gross domestic product (GDP). GDP is a measure of a country's overall economic activity. It represents the total value at current prices of final goods and services produced within a...

Sub-Saharan Africa’s public debt has increased steadily for more than a decade. Domestic government debt has increased from 15% of GDP in 2010 to 30% in 2020. In 2020, sub-Saharan Africa had a total external debt stock of US$702.4 billion, compared to US$380.9 billion in 2012. ...

Nigeria is West Africa’s largest recipient of foreign direct investment (FDI). The country saw its flows double to US$4.8 billion in 2021, mainly because of a resurgence in investments in the oil and gas sectors. ...

Equatorial Guinea (8% of its GDP), the Democratic Republic of the Congo (10.6 % of its GDP) and Botswana (23.2 % of its GDP) have the lowest external debt, according to the latest statistics from the International Monetary Fund. ...

Cabo Verde (159.2 % of its GDP), Eritrea (151.9% of its GDP) and Mozambique (102% of its GDP) have the highest debt, according to the latest statistics from the International Monetary Fund. ...

The International Monetary Fund and the World Bank’s Heavily Indebted Poor Countries (HIPC) initiative aims to ensure that “no poor country faces a debt burden it cannot manage”. Out of the 39 countries on this list, 34 are in Africa – Ghana among them. ...

Kenya's economy has demonstrated resilience to the Covid-19 shock, with output in the first half of 2021 rising above pre-pandemic levels. In 2021 as a whole, gross domestic product (GDP) grew by 5%, one of the faster recoveries among Sub-Saharan African countries. ...