High economic growth: 7 African countries top World Bank forecasts
Economic growth in Africa
Written by: Ayman Ragab
New data released by the World Bank reveals that seven African countries will achieve high annual growth rates during the period 2026-2027, with Nigeria being the most prominent, while Guinea is expected to be the fastest growing country on the continent.
The 7 countries are Nigeria, Guinea, Ethiopia, Uganda, Rwanda, Tanzania, Benin and Niger.
The state of the African economy
According to the World Bank report issued in April 2026 entitled “The State of the African Economy: Activating Industrial Policies in Africa”, Nigeria stands out as one of the countries that have benefited relatively from the current Middle East war crisis.
Nigeria is expected to record growth of 4.1% in 2026, supported by its oil sector and the impact of the Dangote refinery, while South Africa is expected to achieve modest growth of 1.0% during the same year.
Guinea leads the list of the fastest-growing economies on the continent, with expectations of recording 8.8% in 2026, before jumping to 11.6% and 10.7% in 2027 and 2028 respectively.
The promising outlook for Nigeria is driven by the massive Simandu iron ore mining project, which is expected to bring about a structural transformation in the country’s economy and enhance its global standing in the metals market.
The forecasts also included Ethiopia, Uganda, Rwanda, Tanzania, Benin and Niger, which are expected to achieve growth exceeding 6% over the next three years.
A double crisis in energy and food
These countries benefit from the agriculture, energy and services sectors, along with economic reforms and infrastructure investments.
This comes as a World Bank report confirmed that the ongoing war between the United States, Israel and Iran has exacerbated a dual energy and food crisis within the continent, especially after the disruption of hydrocarbon supplies as a result of tensions in the Strait of Hormuz.
The report noted that high debt burdens limit the ability of African governments to finance economic responses or support development priorities.
However, the report reiterated that these expectations depend on developments in the Middle East conflict, as its continuation could lead to higher energy and food prices globally, and disrupt investments, especially from the Gulf states, which had previously announced investment plans exceeding $100 billion in Africa.
