Here are the top 10 African countries with the fastest growing economies right now

The IMF and AfDB both predict that there will be an overall improvement in the continent in

Lagos state, Nigeria is said to have the fastest growing economy in Africa

2019 and 2020.

The International Monetary Fund has high hopes for Africa, predicting that there will be a general improv

ement in economic growth.

According to the financial institution, there will be a 6 per cent increase across the continent with Libya leading with 10.8 per cent.

Likewise, the African Development Bank also predicts an improved economic growth in its 2019 African Economic Outlook report.

It estimates that the economy will increase to 4.0 per cent this year and 4.1 per cent in 2020.

According to Akinwumi Adesina, the AfDB President, "The state of the continent is good. Africa's general economic performance continues to improve."

However, he adds, that "it remains insufficient to address the structural challenges." These issues include "risks from uncertainty in escalating global trade tensions, normalization of interest rates in advanced economies, and uncertainty in global commodity prices could dampen growth."

Despite the challenges, Senior Vice President Charles Boamah remains hopeful saying, "Africa has the means to overcome them by joining hands together and removing barriers to integration and drivers of migration."

Here are IMF's top 10 African countries with the fastest growing economies right now:

  • Libya

IMF projects an economic growth of 10.8 per cent.

  • Ethiopia

Second place goes to Ethiopia with a projected growth of 8.5 per cent.

  • Rwanda

A 7.8 per cent increase is expected in economic growth.

  • Ghana

From 6.3 per cent in 2018 to 7.6 per cent in 2019.

  • Ivory Coast

Projected growth of 7.0 per cent.

  • Senegal

This West African country's economy is expected to grow by 6.7 per cent.'

  • Tanzania

From 5.8 per cent in 2018 to 6.6 per cent this year.

  • Benin

From 6.0 per cent growth in 2018 to 6.3 per cent in 2019.

  • Uganda

It is projected to grow by 6 per cent this year.

  • Kenya

From 6.0 in 2018 to 6.1 per cent in 2019.


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