The HelloSafe Prosperity Index 2026 has ranked Africa’s most prosperous nations using a 0–100 scale based on key indicators such as GDP (PPP), Gross National Income (GNI), Human Development Index (HDI), income distribution, and poverty levels.

The latest ranking highlights a clear leader, with Seychelles dominating the continent by a wide margin.

1. Seychelles — 98.09

Seychelles leads comfortably, driven by high per capita income, strong human development, and balanced income distribution. Its tourism-led economy and investment in social services continue to sustain high living standards.

2. Mauritius — 77.09

Mauritius ranks second with a diversified economy spanning finance, tourism, and manufacturing. Strong institutions and political stability make it one of Africa’s most successful economic models.

3. Algeria — 54.24

Algeria’s position is supported by oil and gas revenues, which fund social programmes and infrastructure. However, long-term growth depends on economic diversification.

4. Gabon — 52.45

Gabon benefits from oil wealth and a small population, boosting income levels. Still, inequality and reliance on extractive industries remain key concerns.

5. Egypt — 52.17

Egypt’s ranking reflects its large economy and ongoing reforms. Infrastructure development is strong, but inflation and currency pressures affect household prosperity.

6. Libya — 46.61

Libya’s oil wealth supports its ranking, but political instability continues to limit its economic potential.

7. Tunisia — 45.19

Tunisia has a diversified economy but faces challenges such as unemployment and slow growth, which weigh on its prosperity score.

8. Botswana — 41.92

Botswana remains stable with strong governance and diamond exports, though diversification and job creation remain pressing issues.

9. Morocco — 36.73

Morocco’s economy is growing through manufacturing and renewable energy investments, but inequality and rural disparities persist.

10. South Africa — 26.53

Despite being Africa’s most industrialised economy, South Africa ranks lowest in the top 10 due to high unemployment, inequality, and energy challenges.

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Key Insights from the 2026 Prosperity Ranking

The index reveals a significant gap between wealth creation and wealth distribution across Africa. While countries like Seychelles and Mauritius demonstrate balanced growth and high human development, others struggle with inequality and structural economic issues.

Notably, nations with strong institutions, diversified economies, and lower income inequality tend to rank higher. In contrast, countries heavily reliant on natural resources or facing political instability show weaker overall prosperity outcomes.

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South Africa has taken a cautious approach to monetary policy, opting to hold its benchmark interest rate at 6.75%, amid easing inflation risks and a firmer currency. This pause, the first since September 2025, marks a shift in the central bank’s strategy as global uncertainty persists.

The South African Reserve Bank (SARB)’s Monetary Policy Committee (MPC) voted 4–2 in favor of maintaining rates, with two members advocating a 25-basis-point cut. The decision follows cumulative reductions of 100 basis points over the past year, which brought the policy rate down from 7.75% to 6.75%.

Governor Lesetja Kganyago noted that the near-term inflation forecast has softened due to a stronger rand and lower oil price assumptions. December’s 3.6% inflation print may represent the peak for the year, although food and electricity prices remain potential upside risks. The central bank also revised its 2026 inflation projection to 3.3%, edging closer to its 3% target anchor within the 3–6% target band.

“Global volatility continues to challenge our outlook,” Kganyago said, citing geopolitical tensions and oil price fluctuations as key uncertainties. He highlighted that while South Africa has paused its easing cycle, other African economies are pursuing different approaches.

For instance, Angola cut its benchmark rate by 100 basis points to 17.5% in January, reflecting improving domestic conditions and easing inflation. Ghana surprised markets with a 250-basis-point cut to 15.5%, the lowest since February 2022. Tanzania, meanwhile, held its policy rate at 5.75% to sustain economic growth.

In Nigeria, analysts anticipate a gradual shift toward rate easing at the next Monetary Policy Committee meeting in February. Last September, the central bank cut its policy rate by 50 basis points to 27%—the first reduction in five years—but has since maintained a cautious hold.

The current environment underscores a broader trend in Africa, where central banks balance domestic inflation control with global financial shocks. The SARB’s approach emphasizes careful monitoring of inflation drivers and currency movements, aiming to stabilize the economy while maintaining investor confidence.

SARB’s decision also reflects the growing complexity of monetary policy in a globally interconnected market. With renewed foreign investor interest in South Africa and neighboring countries, the central bank’s cautious stance seeks to ensure that domestic stability is not compromised by external shocks.

As 2026 progresses, policymakers across the continent are expected to navigate a delicate balance between stimulating growth, controlling inflation, and maintaining financial market stability. South Africa’s measured approach signals that monetary policy will remain responsive but prudent, prioritizing long-term economic resilience over short-term gains.

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Inflation pressures across Africa’s largest economies moderated in 2025, reversing the sharp price increases recorded in 2023 and 2024, according to a BusinessDay analysis based on World Bank data.

Tighter monetary policies, easing food and energy prices, and improved currency stability helped slow consumer price growth across much of the continent, providing relief to households and businesses

Inflation Trends Across Africa’s Biggest Economies

The analysis of Africa’s 10 largest economies shows that Morocco recorded the lowest average inflation between January and October 2025 at 0.94 percent, followed by South Africa at 3.15 percent.

Other relatively low-inflation economies included Tanzania (3.33 percent) and Kenya (4.04 percent), while inflation remained elevated in countries such as Ethiopia, Egypt, Ghana, Angola, and Nigeria.

Nigeria, Africa’s most populous nation, recorded an average inflation rate of 14.45 percent in November, marking the eighth consecutive monthly slowdown, according to the National Bureau of Statistics.

Regional Outlook

Excluding Algeria, which recorded episodes of deflation, the nine remaining economies posted an average inflation rate of 10.74 percent in 2025, down from 16.28 percent in 2024 and 15.57 percent in 2023.

The World Bank’s latest Africa Pulse report projects regional economic growth of 3.8 percent in 2025, up from 3.5 percent in 2024, with further acceleration expected in 2026 and 2027.

The report noted that easing inflation has created room for gradual monetary policy relaxation, supporting household consumption and private investment, even as fiscal consolidation remains a constraint in some economies.

Low-Inflation Economies

Morocco

Morocco maintained Africa’s lowest inflation in 2025, supported by lower food prices, easing imported inflation, and subdued core price pressures. The central bank kept its policy rate at 2.25 percent to support economic growth.

South Africa

Inflation remained within the central bank’s target range, helped by declining fuel costs and weak domestic demand. The South African Reserve Bank cut its benchmark rate multiple times during the year as price pressures eased.

Kenya and Tanzania

Kenya and Tanzania recorded moderate inflation, driven mainly by food, housing, and transport costs. Both countries maintained accommodative monetary policies to support economic activity.

Moderate- to High-Inflation Economies

Ethiopia

Ethiopia’s inflation slowed to 13.6 percent, down from over 30 percent in 2023, although food prices, currency pressures, and supply constraints continued to pose challenges.

Egypt

Egypt’s urban inflation declined to 14.4 percent, reflecting tight monetary policy and IMF-backed reforms following earlier currency devaluations.

Ghana

Ghana recorded inflation of 15.4 percent, supported by a stronger cedi and improved export earnings from cocoa and gold. The central bank responded with significant rate cuts as price pressures eased.

High-Inflation Markets

Angola

Inflation in Angola remained elevated at 20.8 percent, driven by food and energy costs, import dependence, and currency volatility, despite gradual monetary easing.

Notable Exception: Algeria

Algeria stood out as the only country to record negative inflation, with consumer prices falling by 0.40 percent in parts of 2025. The deflation reflected weak domestic demand and subdued price pressures.

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Africa’s skylines are rising fast. From highways to power plants, ports to housing estates, a wave of construction is sweeping the continent, fuelled by rapid urbanisation, industrial growth, and a swelling population. This transformation is reshaping economies and creating one of the world’s fastest-growing construction markets.

The sector, currently worth an estimated $200 billion, is expected to expand to $300 billion by 2032, according to new figures from Afreximbank. Nigeria alongside Algeria, Egypt, Tanzania, and Ethiopia will drive more than half of this growth, with Nigeria standing out as the continent’s most dynamic and influential player.

“Africa is undergoing a transformation,” said Anthony Coleman, Director of Development Research at Afreximbank, during the 4th Intra-African Trade Fair in Algiers. “Population growth, rapid urbanisation, and the push for energy sufficiency are combining to reshape the construction landscape.”

The surge is not isolated from global dynamics. Stagnant growth in Europe has slowed the global construction sector, but the geopolitical fallout of the Russia-Ukraine war has redirected focus toward energy security. That shift has driven demand for liquefied natural gas infrastructure and reconfigured logistics networks trends that are fueling additional construction opportunities in Africa.

“We are seeing companies rethink supply chains and governments invest in energy infrastructure,” Coleman explained. “This has created a ripple effect across African markets.”

Yet the boom is uneven. North Africa dominates, with Algeria and Egypt together accounting for almost one-third of activity in the region. Central, East, and West Africa are beginning to show promise, with Cameroon and Rwanda emerging as bright spots. Still, most countries face a wide infrastructure gap, particularly in transport, energy, and housing.

“The need is clear,” Coleman said. “To keep up with economic expansion, we must match it with roads, ports, power plants, and homes.”

Despite the impressive numbers, African contractors remain largely absent from the biggest deals. Afreximbank’s research revealed that limited technical know-how, weak financing options, and poor visibility of opportunities prevent many local firms from securing government and donor-funded projects.

“Many contractors simply don’t know where the opportunities are,” Coleman noted. “And when they do, they often lack the support needed to win.”

Government agencies voiced parallel concerns, citing doubts over local firms’ ability to deliver at scale and highlighting restrictive financing rules that tilt in favour of foreign companies. “Sometimes the obstacle is written into the financing terms themselves,” Coleman emphasised.

To address these barriers, Afreximbank is launching a centralised digital platform to improve project transparency and access. It is also investing in capacity-building programmes to strengthen the financial, operational, and technical readiness of African contractors.

Perhaps most crucially, the bank is pressing governments and funding partners to reform procurement policies to ensure African EPC firms are directly involved in the continent’s infrastructure build-out.

“We want these projects to be African-led and African-delivered,” Coleman said. “That is how we build resilience and ownership.”

Kanayo Awani, Executive Vice President of the Intra-African Trade Bank, reinforced this point, stressing that local firms play a more strategic role than is often recognised. “Most African EPCs are not merely contractors,” she said. “They are development enablers and key partners in overcoming the financing challenges facing the continent.”

Businessday

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Mauritanian economist and development finance expert, Sidi Ould Tah, has officially assumed office as the 9th president of the African Development Bank (AfDB) Group, succeeding Akinwumi Adesina after a decade of leadership. His election, held during the AfDB’s annual meetings in Abidjan, Côte d’Ivoire, saw him secure a decisive 76.18 percent of the votes, reflecting strong continental support.

In his inaugural speech, Tah pledged to steer the bank with a renewed focus on collaboration, reforms, and accelerated development, stressing that his administration will prioritise economic transformation, job creation, and social progress.

He expressed gratitude to President Alassane Ouattara of Côte d’Ivoire for hosting the historic swearing-in, as well as to President Mohamed Ghezouani of Mauritania for mobilising national support throughout his candidacy. Tah also acknowledged the contributions of AfDB governors, African leaders, civil society, and development partners who rallied behind his vision.

Promising to build on the foundation laid by his predecessors, he vowed to work “in a spirit of consultation and collegiality” to strengthen the AfDB’s role as Africa’s premier financial institution.

Tah highlighted debt management, climate resilience, peace-building, and sustainable development as urgent priorities, while pledging to bridge divides between vision and execution, public and private sectors, and urgency and bureaucracy.

Expanding AfDB’s Reach

Looking ahead, Tah announced plans to broaden the AfDB’s partnerships by engaging sovereign funds, pension funds, and private investors to scale up financing for Africa’s development agenda.

He outlined a 100-day action plan anchored on four priorities:

1. Listening to stakeholders, partners, and AfDB staff to align with real-world needs.

2. Fast-tracking reforms to improve efficiency and cut red tape.

3. Deepening partnerships with African and global institutions to mobilise capital.

4. Delivering solutions that expand access to finance, create jobs, and empower women and youth.

With these commitments, Tah positions the AfDB as a catalyst for inclusive growth and long-term prosperity across the continent.

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Miller said Africa’s rise is certain but depends on strong and strategic leadership. He warned that without careful planning, the continent risks repeating past mistakes.

He criticized past global partnerships, saying many only took resources and left broken promises. He called for private sector-led investments instead of debt-driven deals.

Miller urged African countries to focus on real value, avoid unsustainable loans, and build strong infrastructure like roads, ports, and data centers.

He also highlighted Africa’s young population and rich resources, saying these could make the continent a key player in the global AI supply chain.

“This is like the Industrial Revolution,” he said. “Africa has a chance to shape its future if it acts now.”

The post Nigeria to Join World’s Top 10 Economies by 2050 — Jason Miller appeared first on Housing TV Africa.

Dr. Elombi, a Cameroonian national and long-serving executive at the bank, is the fourth President since Afreximbank was founded in 1993. His appointment was confirmed at the bank’s 32nd annual general meetings, held from June 25 to 28 in Abuja. Shareholders gave their final approval on Saturday.

He will officially replace Professor Benedict Oramah, who has led the bank since 2015 and is set to step down in September 2025.

Dr. Elombi began his career at Afreximbank in 1996 as a Legal Officer. Over nearly 30 years, he rose through the ranks, taking on key roles such as Executive Vice President for Governance, Legal and Corporate Services, Director and Executive Secretary, and Chief Legal Officer. Before joining Afreximbank, he taught law at the University of Hull in the United Kingdom.

Dr. Elombi has played a central role in the bank’s growth. He helped establish several subsidiaries and expand the bank’s reach across Africa. During the COVID-19 pandemic, he chaired the Emergency Response Committee, leading efforts to mobilise over $2 billion for vaccine procurement and distribution across Africa and the Caribbean. Under his leadership, the Equity Mobilisation and Investor Relations department raised $3.6 billion in equity as of April 2025.

In his acceptance speech, Dr. Elombi expressed his commitment to the bank’s mission. “I have had the privilege of working with visionary leaders and colleagues to shape this institution’s mandate and growth,” he said. “Looking ahead, I see Afreximbank as a driver of Africa’s industrialisation and a symbol of dignity for Africans everywhere. I will work to preserve and grow this legacy.”

He also pledged to continue pursuing the bold target set by his predecessor: transforming Afreximbank into a $250 billion institution within the next decade.

Dr. Elombi holds a Master of Laws (LL.M.) and a Ph.D. in commercial arbitration from the London School of Economics, University of London. He also earned a Maitrise-en-Droit from the University of Yaoundé.

His appointment followed a rigorous global selection process that began in January 2025. The search included an open international call for applications, interviews by a top executive search firm, and a final recommendation from the Board of Directors to the shareholders.

Under the Afreximbank charter, the President is appointed by the general meeting of shareholders on the Board’s recommendation. The term is five years and may be renewed once.

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