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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The immediate past President of the African Development Bank (AfDB), Akinwumi Adesina, is set to receive the prestigious African Lifetime Achievement Award for his outstanding contributions to Africa’s economic growth, agricultural development, and sustainable initiatives.

The award ceremony, organised by the African Heritage Awards, is scheduled for April 11, 2026, in Accra, Ghana. Former Ghanaian President John Mahama will formally present the honour in recognition of Adesina’s decades-long commitment to advancing the continent’s development agenda.

Described by the organisers as a visionary leader, Adesina’s tenure at AfDB is credited with driving major interventions in infrastructure, food security, and energy access, significantly improving the livelihoods of millions of Africans.

“Adesina’s leadership at the African Development Bank has left a lasting legacy of innovation, economic transformation, and sustainable development across Africa,” the organisers stated.

Other distinguished honourees at the event include Dame Marcella and Antoinette Monsio Sayeh, recognised for their remarkable contributions in their respective fields.

The African Heritage Awards have previously honoured notable African leaders, including former Nigerian President Goodluck Jonathan, Ngozi Okonjo-Iweala, and President Mahama, demonstrating the platform’s ongoing commitment to celebrating excellence and leadership across Africa.

The 2026 ceremony is expected to draw top dignitaries, policymakers, and development experts from across the continent, further cementing the awards as a key platform for recognising African achievement and inspiring future generations.

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Nigeria has been ranked as the third-largest recipient of United States foreign aid in Sub-Saharan Africa, according to a new analysis by Cable Index.

The report, which tracked aid disbursements across 20 African nations as of September 2025, shows that Nigeria received a total of $516.69 million in U.S. assistance. The country trails Ethiopia and the Democratic Republic of Congo (DRC), which received $617.35 million and $571.35 million, respectively.

According to the analysis, U.S. foreign assistance remains largely directed toward humanitarian relief, health care programs, education, and governance initiatives aimed at strengthening democratic institutions and promoting stability across Africa.

Other notable beneficiaries include Sudan ($514.55 million), Kenya ($402.84 million), Somalia ($402.57 million), and Mozambique ($325.41 million). At the lower end of the chart, Ghana ranked 20th with $114.56 million in disbursements.

The findings underscore Washington’s ongoing engagement with African nations through development aid and humanitarian partnerships.

Below is the full list of U.S. foreign aid recipients as of September 2025:

1. Ethiopia – $617.35m

2. Democratic Republic of Congo – $571.35m

3. Nigeria – $516.69m

4. Sudan – $514.55m

5. Kenya – $402.84m

6. Somalia – $402.57m

7. Mozambique – $325.41m

8. Uganda – $324.17m

9. South Sudan – $308.43m

10. Tanzania – $288.80m

11. Zambia – $214.42m

12. Senegal – $205.74m

13. Burkina Faso – $202.22m

14. Mali – $183.07m

15. Malawi – $181.98m

16. Zimbabwe – $173.48m

17. South Africa – $166.08m

18. Niger – $162.08m

19. Côte d’Ivoire – $129.59m

20. Ghana – $114.56m

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Announced in 2020, the project called Akon City was planned as a futuristic city inspired by Marvel’s Wakanda. The city was supposed to be powered by solar energy and use Akon’s own cryptocurrency, Akoin. It was to be built in Mbodiène, a quiet village on Senegal’s Atlantic coast.

The goal was to transform Mbodiène into a modern tech hub, with hospitals, schools, hotels, and housing. But five years later, construction never began.

The Senegalese government has now taken back most of the 136 acres of land that had been given to Akon for the project. Officials said financial commitments were not fulfilled.

“That project no longer exists,” said Serigne Mamadou Mboup, head of SAPCO, the agency responsible for developing Senegal’s coast and tourism zones.

Instead, the government will now move forward with a new, smaller project in the same location. This updated plan will focus on tourism development. It will be supported by private investors and have a revised budget of about $1.2 billion USD.

Akon will keep only 8 hectares of the original land. That area will be included in the new state-led project. The revised plan is expected to create up to 15,000 jobs in its first phase. This offers real economic hope for the people of Mbodiène.

Despite all the media attention over the years, Akon City only produced a youth center, a basketball court, and an information kiosk. No major buildings were ever constructed. The first phase, which included a hospital, was meant to be completed by 2023 but nothing happened.

The cancellation highlights the risks of large-scale private projects that lack proper funding and oversight. While the idea of Akon City was exciting, the failure to deliver has led Senegal to take control.

Authorities now say they want to focus on real, achievable results that will benefit the local community.

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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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Describing Oramah as a visionary leader, President Tinubu lauded his efforts in expanding intra-African trade, streamlining payment systems, and driving critical development initiatives across the continent. “Today is your day, Prof. Oramah,” Tinubu declared. “I have the privilege of bestowing upon you one of Nigeria’s highest honours in recognition of your outstanding service the Grand Commander of the Order of the Niger.”

Under Professor Oramah’s leadership, Afreximbank’s assets grew exponentially from $5 billion to over $37 billion. His tenure saw the bank play a pivotal role in Africa’s pandemic response, providing financing for over 400 million COVID-19 vaccine doses, supporting industrialisation, and strengthening the creative economy. The president noted that Nigeria alone had benefited from more than $52 billion in support across vital sectors such as energy, infrastructure, agriculture, manufacturing, and healthcare.

Tinubu highlighted landmark projects including the Dangote and BUA Refineries, the African Medical Centre of Excellence, and the Africa Quality Assurance Centre, describing them as emblematic of Africa’s rising potential and Nigeria’s strategic importance. He further commended Nigeria’s adoption of the Pan-African Payment and Settlement System (PAPSS), a move aimed at enhancing cross-border trade and reducing dependency on foreign currencies.

Looking ahead, Tinubu announced the upcoming launch of the Africa Energy Bank, to be headquartered in Abuja with a $5 billion initial capital base, designed to finance Africa’s energy transition and support renewable energy development. Other ongoing collaborations include scaling Nigeria’s fertiliser production capacity to 7.5 million tonnes annually and advancing critical infrastructure such as the $3.5 billion Bakassi Deep Seaport.

President Tinubu underscored Afreximbank’s evolving role as more than a financier but as a strategic partner in building Africa’s economic architecture. Through initiatives like FEDA, AQAC, CANEX, and PAPSS, the bank supports African entrepreneurship, boosts quality standards, and empowers creative and export-driven industries.

Reflecting on Nigeria’s broader economic trajectory, Tinubu reiterated his administration’s commitment to difficult yet essential reforms aimed at stabilising the macroeconomy, promoting inclusive growth, and enhancing productivity. “Since May 2023, under our Renewed Hope Agenda, we have undertaken bold measures, including the removal of the fuel subsidy and unification of exchange rates, to secure a sustainable economic future for all Nigerians,” he stated.

In honoring Professor Oramah, President Tinubu not only celebrated individual excellence but also reaffirmed Nigeria’s resolve to lead in shaping Africa’s economic renaissance.

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Over the last 32 years, more than $250 billion in investment has flowed into Africa. This figure highlights the growing confidence in the continent’s potential. However, Cardoso cautioned that Africa must go beyond attracting capital it must channel these funds into sustainable, inclusive development. Local expertise, innovation, and policy reforms, he said, will be the true drivers of transformation. He called for increased support for small businesses, infrastructure, and financial systems that empower citizens.

Africa’s economic resilience has been tested repeatedly by global disruptions, yet the continent continues to show strength. According to the African Development Bank, Africa’s GDP is projected to grow by 4% in 2025. Key growth sectors include digital technology, clean energy, and intra-African trade. Cardoso highlighted that regional initiatives like the African Continental Free Trade Area (AfCFTA) and the Pan-African Payment and Settlement System (PAPSS) are already improving trade efficiency and reducing reliance on foreign currencies.

Cardoso also addressed the critical role of the African diaspora. In 2023 alone, over $54 billion in remittances was sent back to the continent, according to World Bank data. These funds, he said, must be viewed not just as financial aid, but as vital capital for development. With the right policies, diaspora contributions can help scale local enterprises, invest in education, and close infrastructure gaps. Cardoso urged leaders to engage the diaspora as active partners in shaping Africa’s future.

Closing his remarks, Cardoso called for bold institutional reforms, stronger governance, and financial transparency. He reiterated the CBN’s commitment to exchange rate reform, digital banking expansion, and inclusive finance. Ultimately, he argued, Africa must move from dependency to leadership. With united efforts and African-led strategies, the continent can take charge of its development and achieve lasting prosperity on its own terms.

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