April 26, 2016 IBOMLLC Team

Here Are The Top 10 Fastest Growing Economies In Africa; Nigeria Not Among Them

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

In the period between 2014 and 2015, CNN-Money tipped Nigeria to be the third fastest growing economy in the world. It came in at third place after China (7.3%) and Qatar (7.1%), which was no mean feat by any standard. South Africa is also one of Africa’s biggest economy although in recent years there has been no particularly good report to write home.

With that in mind, it comes as a shock that none of these two big economies in Africa featured anywhere among the top ten fastest growing economies in Africa as reported by International Monetary Fund (IMF). As outlined in the IMF’s World Economic Outlook for 2016 report.

The latest (April) revised report by the IMF places Cote d’Ivoire as the fastest growing economy in Africa with a GDP of 8.5%. Below is a breakdown of IMF’s World Economic Outlook for 2016 revised in April of the top ten fastest growing economies in Africa:

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Rank Country Projected Growth
1. Cote d’Ivoire 8.5%
2. Tanzania 6.9%
3. Senegal 6.6%
4. Djibouti 6.5%
5. Rwanda 6.3%
6. Kenya 6.3%
7. Mozambique 6.0%
8. CAR 5.7%